BlackRock TCP Capital (NASDAQ:TCPC) Releases Earnings Results

BlackRock TCP Capital (NASDAQ:TCPC) posted its earnings results on Wednesday. The investment management company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04), Zacks reports. The business had revenue of $70.93 million during the quarter, compared to the consensus estimate of $69.13 million. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. During the same period in the previous year, the business posted $0.49 EPS.

BlackRock TCP Capital Price Performance

Shares of BlackRock TCP Capital stock traded up $0.16 during trading hours on Thursday, hitting $8.71. The company’s stock had a trading volume of 1,090,442 shares, compared to its average volume of 500,794. The business has a 50 day moving average price of $8.44 and a two-hundred day moving average price of $9.74. BlackRock TCP Capital has a 12-month low of $7.71 and a 12-month high of $12.43. The company has a market cap of $745.49 million, a PE ratio of -16.57 and a beta of 1.47. The company has a debt-to-equity ratio of 1.51, a quick ratio of 44.47 and a current ratio of 44.47.

BlackRock TCP Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 20.21%. This is an increase from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date is Tuesday, December 17th. BlackRock TCP Capital’s payout ratio is presently -256.60%.

Insider Activity

In other news, CEO Rajneesh Vig bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were bought at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the completion of the transaction, the chief executive officer now owns 130,930 shares of the company’s stock, valued at approximately $1,190,153.70. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Philip M. Tseng acquired 5,000 shares of BlackRock TCP Capital stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $9.07 per share, with a total value of $45,350.00. Following the completion of the purchase, the director now directly owns 17,481 shares of the company’s stock, valued at $158,552.67. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Rajneesh Vig acquired 25,000 shares of BlackRock TCP Capital stock in a transaction on Thursday, August 29th. The shares were bought at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the completion of the purchase, the chief executive officer now directly owns 130,930 shares of the company’s stock, valued at $1,190,153.70. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 42,000 shares of company stock worth $381,875 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on TCPC shares. Wells Fargo & Company lifted their target price on BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a report on Thursday. Keefe, Bruyette & Woods cut their price objective on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. StockNews.com lowered BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Finally, LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $9.00.

BlackRock TCP Capital Company Profile

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.