BlackRock TCP Capital (NASDAQ:TCPC) Releases Quarterly Earnings Results, Meets Estimates

BlackRock TCP Capital (NASDAQ:TCPC) issued its quarterly earnings results on Wednesday. The investment management company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45, Zacks reports. BlackRock TCP Capital had a return on equity of 14.59% and a net margin of 18.38%. The company had revenue of $55.73 million for the quarter, compared to analysts’ expectations of $50.99 million. During the same period last year, the firm earned $0.44 EPS.

BlackRock TCP Capital Stock Down 0.8 %

Shares of BlackRock TCP Capital stock traded down $0.08 during midday trading on Thursday, hitting $10.34. The company’s stock had a trading volume of 416,826 shares, compared to its average volume of 477,015. The firm has a market capitalization of $597.34 million, a P/E ratio of 15.91 and a beta of 1.42. The stock has a 50-day simple moving average of $10.34 and a 200-day simple moving average of $11.06. The company has a quick ratio of 30.47, a current ratio of 30.47 and a debt-to-equity ratio of 1.43. BlackRock TCP Capital has a 1-year low of $9.80 and a 1-year high of $13.00.

BlackRock TCP Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 14th were given a $0.34 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.36 annualized dividend and a dividend yield of 13.15%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 206.06%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TCPC shares. Raymond James cut BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, March 1st. Oppenheimer lowered their price target on BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Thursday. JMP Securities reiterated a “market perform” rating on shares of BlackRock TCP Capital in a research report on Friday, March 1st. Wells Fargo & Company lifted their price target on BlackRock TCP Capital from $11.00 to $11.50 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Finally, Keefe, Bruyette & Woods reduced their price objective on BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.00.

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.