BlackRock TCP Capital (TCPC) Scheduled to Post Earnings on Wednesday

BlackRock TCP Capital (NASDAQ:TCPC) will issue its quarterly earnings data before the market opens on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.40 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $71.53 million for the quarter, compared to the consensus estimate of $70.39 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 last year, the business earned $0.48 earnings per share. On average, analysts expect BlackRock TCP Capital to post $2 EPS for the current fiscal year and $1 EPS for the next fiscal year.

BlackRock TCP Capital Stock Down 1.3 %

Shares of TCPC stock opened at $8.20 on Wednesday. BlackRock TCP Capital has a one year low of $8.02 and a one year high of $12.43. The company has a debt-to-equity ratio of 1.51, a current ratio of 44.47 and a quick ratio of 44.47. The stock has a market cap of $701.84 million, a P/E ratio of -15.47 and a beta of 1.47. The stock has a fifty day moving average price of $8.57 and a 200 day moving average price of $9.83.

BlackRock TCP Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.34 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.36 dividend on an annualized basis and a yield of 16.59%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -256.60%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating for the company in a report on Tuesday. StockNews.com cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods lowered their price target on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Finally, LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.83.

Insider Activity

In related news, CEO Rajneesh Vig bought 25,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was purchased at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the transaction, the chief executive officer now owns 130,930 shares in the company, valued at $1,190,153.70. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Rajneesh Vig bought 25,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were purchased at an average cost of $9.09 per share, with a total value of $227,250.00. Following the acquisition, the chief executive officer now directly owns 130,930 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director Philip M. Tseng bought 10,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $9.10 per share, with a total value of $91,000.00. Following the completion of the transaction, the director now directly owns 27,481 shares in the company, valued at approximately $250,077.10. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 42,000 shares of company stock worth $381,875. Corporate insiders own 0.16% 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, 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.