Zacks: Brokerages Anticipate BlackRock TCP Capital Corp (NASDAQ:TCPC) Will Announce Earnings of $0.40 Per Share

Wall Street analysts expect BlackRock TCP Capital Corp (NASDAQ:TCPC) to announce earnings of $0.40 per share for the current quarter, Zacks reports. Three analysts have issued estimates for BlackRock TCP Capital’s earnings, with estimates ranging from $0.39 to $0.41. BlackRock TCP Capital posted earnings per share of $0.42 during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.8%. The business is expected to report its next earnings results on Thursday, November 14th.

On average, analysts expect that BlackRock TCP Capital will report full year earnings of $1.60 per share for the current fiscal year, with EPS estimates ranging from $1.57 to $1.64. For the next financial year, analysts forecast that the firm will report earnings of $1.62 per share, with EPS estimates ranging from $1.58 to $1.66. Zacks’ EPS averages are an average based on a survey of research analysts that follow BlackRock TCP Capital.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its earnings results on Thursday, August 8th. The investment management company reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The firm had revenue of $48.18 million for the quarter, compared to the consensus estimate of $47.17 million. BlackRock TCP Capital had a net margin of 14.19% and a return on equity of 11.32%.

Several equities analysts have commented on TCPC shares. National Securities reissued a “buy” rating and set a $18.00 target price on shares of BlackRock TCP Capital in a research report on Monday, May 13th. Zacks Investment Research downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. BidaskClub raised shares of BlackRock TCP Capital from a “strong sell” rating to a “sell” rating in a research report on Friday, August 2nd. Finally, Oppenheimer set a $16.00 target price on shares of BlackRock TCP Capital and gave the stock a “buy” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $16.30.

BlackRock TCP Capital stock opened at $13.16 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.75 and a quick ratio of 3.75. The company has a market capitalization of $781.05 million, a price-to-earnings ratio of 8.28, a PEG ratio of 2.80 and a beta of 0.70. BlackRock TCP Capital has a one year low of $12.52 and a one year high of $14.88. The company’s fifty day moving average price is $14.04 and its two-hundred day moving average price is $14.34.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 10.94%. The ex-dividend date is Friday, September 13th. BlackRock TCP Capital’s payout ratio is 90.57%.

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its position in shares of BlackRock TCP Capital by 8.9% in the fourth quarter. Bank of America Corp DE now owns 405,430 shares of the investment management company’s stock valued at $5,287,000 after purchasing an additional 33,119 shares during the period. Jane Street Group LLC purchased a new stake in shares of BlackRock TCP Capital in the fourth quarter valued at $240,000. CFO4Life Group LLC grew its position in shares of BlackRock TCP Capital by 20.1% in the first quarter. CFO4Life Group LLC now owns 14,049 shares of the investment management company’s stock valued at $199,000 after purchasing an additional 2,356 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of BlackRock TCP Capital by 27.3% in the first quarter. Oppenheimer & Co. Inc. now owns 52,318 shares of the investment management company’s stock valued at $742,000 after purchasing an additional 11,228 shares during the period. Finally, Bank of Montreal Can grew its position in shares of BlackRock TCP Capital by 153.2% in the first quarter. Bank of Montreal Can now owns 308,900 shares of the investment management company’s stock valued at $4,380,000 after purchasing an additional 186,900 shares during the period. Institutional investors own 41.93% of the company’s stock.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.

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