BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives $9.00 Consensus Target Price from Brokerages

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) have earned a consensus recommendation of “Reduce” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $9.00.

TCPC has been the subject of a number of research analyst reports. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company raised their price objective on BlackRock TCP Capital from $7.50 to $8.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ:TCPC opened at $9.51 on Wednesday. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34. The company has a market cap of $813.96 million, a price-to-earnings ratio of -19.02 and a beta of 1.50. BlackRock TCP Capital has a 12 month low of $7.71 and a 12 month high of $12.03. The company has a 50-day moving average price of $8.70 and a 200-day moving average price of $9.47.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). 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 14.16% and a negative net margin of 15.22%. During the same quarter in the prior year, the business posted $0.49 earnings per share. As a group, equities analysts anticipate that BlackRock TCP Capital will post 1.65 EPS for the current year.

BlackRock TCP Capital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.44 dividend. The ex-dividend date is Tuesday, December 17th. This is a boost from BlackRock TCP Capital’s previous quarterly dividend of $0.34. This represents a $1.76 annualized dividend and a yield of 18.51%. BlackRock TCP Capital’s payout ratio is -271.99%.

Insider Activity at BlackRock TCP Capital

In other BlackRock TCP Capital news, President Jason Mehring bought 4,500 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was acquired at an average price of $9.30 per share, with a total value of $41,850.00. Following the transaction, the president now owns 19,914 shares in the company, valued at $185,200.20. This represents a 29.19 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.16% of the stock is owned by insiders.

Institutional Investors Weigh In On BlackRock TCP Capital

Hedge funds have recently added to or reduced their stakes in the stock. Barings LLC grew its position in BlackRock TCP Capital by 3,878.9% during the second quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock valued at $188,922,000 after buying an additional 17,053,151 shares during the period. Cetera Advisors LLC bought a new stake in shares of BlackRock TCP Capital during the 1st quarter valued at $185,000. Paloma Partners Management Co purchased a new stake in shares of BlackRock TCP Capital in the 3rd quarter worth $608,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in BlackRock TCP Capital by 40.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 218,881 shares of the investment management company’s stock worth $2,364,000 after purchasing an additional 63,509 shares during the period. Finally, Van ECK Associates Corp raised its holdings in BlackRock TCP Capital by 7.3% in the 3rd quarter. Van ECK Associates Corp now owns 2,107,130 shares of the investment management company’s stock worth $17,257,000 after purchasing an additional 143,667 shares during the period.

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.