TCP Capital (TCPC) Lowered to “Sell” at BidaskClub

BidaskClub downgraded shares of TCP Capital (NASDAQ:TCPC) from a hold rating to a sell rating in a report published on Monday morning.

A number of other analysts have also recently commented on the company. Zacks Investment Research upgraded TCP Capital from a hold rating to a buy rating and set a $16.00 price objective for the company in a research report on Saturday. ValuEngine cut TCP Capital from a hold rating to a sell rating in a research report on Wednesday, May 2nd. JMP Securities reduced their price objective on TCP Capital from $17.50 to $17.00 and set a market outperform rating for the company in a research report on Thursday, March 1st. Wells Fargo reduced their price objective on TCP Capital from $17.25 to $17.00 and set an outperform rating for the company in a research report on Wednesday, February 28th. Finally, National Securities reiterated a buy rating and set a $19.00 price objective on shares of TCP Capital in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. TCP Capital presently has an average rating of Buy and an average target price of $17.33.

TCP Capital opened at $14.53 on Monday, MarketBeat reports. The firm has a market cap of $852.97 million, a P/E ratio of 8.63, a PEG ratio of 1.84 and a beta of 0.67. The company has a debt-to-equity ratio of 0.88, a current ratio of 8.22 and a quick ratio of 8.22. TCP Capital has a one year low of $14.53 and a one year high of $14.59.

TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings data on Wednesday, May 9th. The investment management company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $44.22 million for the quarter, compared to analysts’ expectations of $45.10 million. TCP Capital had a net margin of 45.28% and a return on equity of 11.94%. research analysts anticipate that TCP Capital will post 1.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 9.91%. The ex-dividend date of this dividend is Thursday, June 14th. TCP Capital’s payout ratio is 72.36%.

TCP Capital announced that its Board of Directors has approved a share repurchase program on Tuesday, February 27th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the investment management company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional investors and hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. purchased a new stake in TCP Capital in the first quarter worth about $114,000. Punch & Associates Investment Management Inc. purchased a new stake in TCP Capital in the first quarter worth about $151,000. Great West Life Assurance Co. Can purchased a new stake in TCP Capital in the first quarter worth about $222,000. Canal Capital Management LLC purchased a new stake in TCP Capital in the fourth quarter worth about $245,000. Finally, Virtu Financial LLC purchased a new stake in TCP Capital in the fourth quarter worth about $261,000. Institutional investors and hedge funds own 52.44% of the company’s stock.

TCP Capital Company Profile

TCP Capital Corp. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It invests in the debt of middle-market companies, as well as small businesses, including senior secured loans, junior loans, mezzanine debt and bonds.

Analyst Recommendations for TCP Capital (NASDAQ:TCPC)

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