BlackRock TCP Capital (NASDAQ:TCPC) Posts Earnings Results, Meets Expectations

BlackRock TCP Capital (NASDAQ:TCPC) issued its earnings results on Wednesday. The investment management company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42, Zacks reports. The firm had revenue of $71.53 million during the quarter, compared to analyst estimates of $70.39 million. BlackRock TCP Capital had a net margin of 9.69% and a return on equity of 13.95%. During the same period in the previous year, the firm earned $0.48 earnings per share.

BlackRock TCP Capital Stock Down 1.3 %

Shares of TCPC stock traded down $0.12 during mid-day trading on Friday, hitting $9.01. 636,144 shares of the stock traded hands, compared to its average volume of 447,898. The stock has a market cap of $771.17 million, a P/E ratio of 25.74 and a beta of 1.49. The stock’s fifty day moving average is $10.75 and its two-hundred day moving average is $10.69. BlackRock TCP Capital has a 52-week low of $8.93 and a 52-week high of $12.77. The company has a debt-to-equity ratio of 1.37, a current ratio of 19.05 and a quick ratio of 19.05.

BlackRock TCP Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 15.09%. The ex-dividend date of this dividend is Monday, September 16th. BlackRock TCP Capital’s payout ratio is 388.57%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TCPC. Oppenheimer lowered their target price on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday. StockNews.com lowered shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.17.

About BlackRock TCP Capital

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.