Stephens lowered shares of Triangle Capital Corporation (NYSE:TCAP) from an overweight rating to an equal weight rating in a research note published on Friday, November 3rd, MarketBeat.com reports.
Other equities research analysts have also issued reports about the stock. Jefferies Group LLC reissued a buy rating and issued a $18.00 target price (down from $23.00) on shares of Triangle Capital Corporation in a report on Wednesday, August 9th. ValuEngine raised shares of Triangle Capital Corporation from a hold rating to a buy rating in a report on Tuesday, August 1st. Hilliard Lyons raised shares of Triangle Capital Corporation from a neutral rating to a buy rating and set a $14.00 price objective for the company in a report on Wednesday, October 18th. Keefe, Bruyette & Woods set a $18.00 price objective on shares of Triangle Capital Corporation and gave the company a hold rating in a report on Thursday, October 5th. Finally, Zacks Investment Research raised shares of Triangle Capital Corporation from a sell rating to a hold rating in a report on Wednesday, October 11th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $16.57.
Triangle Capital Corporation (NYSE:TCAP) opened at $9.52 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 56.98 and a current ratio of 56.98. The stock has a market cap of $449.72, a PE ratio of 5.85, a price-to-earnings-growth ratio of 1.21 and a beta of 0.91. Triangle Capital Corporation has a one year low of $8.91 and a one year high of $20.35.
Triangle Capital Corporation (NYSE:TCAP) last issued its quarterly earnings data on Wednesday, November 1st. The credit services provider reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.05). The business had revenue of $29.88 million during the quarter, compared to the consensus estimate of $32.84 million. Triangle Capital Corporation had a positive return on equity of 10.67% and a negative net margin of 36.80%. Triangle Capital Corporation’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. equities research analysts forecast that Triangle Capital Corporation will post 1.56 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $1.20 annualized dividend and a dividend yield of 12.61%. Triangle Capital Corporation’s payout ratio is currently -202.24%.
Hedge funds have recently added to or reduced their stakes in the stock. WFG Advisors LP bought a new stake in shares of Triangle Capital Corporation in the second quarter valued at about $101,000. Financial Counselors Inc. purchased a new position in Triangle Capital Corporation in the third quarter valued at about $143,000. Commerce Bank purchased a new position in Triangle Capital Corporation in the third quarter valued at about $171,000. Sigma Planning Corp purchased a new position in Triangle Capital Corporation in the second quarter valued at about $181,000. Finally, Trust Co. of Vermont grew its stake in Triangle Capital Corporation by 139.9% in the second quarter. Trust Co. of Vermont now owns 13,342 shares of the credit services provider’s stock valued at $235,000 after purchasing an additional 7,781 shares during the last quarter. Hedge funds and other institutional investors own 33.83% of the company’s stock.
About Triangle Capital Corporation
Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.
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