TCG BDC (CGBD) Posts Earnings Results, Beats Estimates By $0.01 EPS

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TCG BDC (NASDAQ:CGBD) posted its earnings results on Tuesday. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01, Briefing.com reports. The business had revenue of $51.28 million for the quarter, compared to analyst estimates of $49.12 million. TCG BDC had a return on equity of 9.32% and a net margin of 45.15%. The firm’s revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 EPS.

NASDAQ CGBD remained flat at $$16.04 on Wednesday. The company’s stock had a trading volume of 263,700 shares, compared to its average volume of 137,581. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.76. TCG BDC has a 52-week low of $15.27 and a 52-week high of $20.30. The firm has a market cap of $992.34 million, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 4.76 and a beta of -0.05.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 17th. Shareholders of record on Friday, December 28th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 9.23%. The ex-dividend date of this dividend is Thursday, December 27th. TCG BDC’s dividend payout ratio is 85.06%.

CGBD has been the topic of a number of recent analyst reports. Wells Fargo & Co decreased their target price on TCG BDC from $17.75 to $15.00 and set a “market perform” rating on the stock in a report on Thursday, October 4th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $19.00 target price on shares of TCG BDC in a report on Thursday, August 9th. ValuEngine lowered TCG BDC from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Finally, Zacks Investment Research raised TCG BDC from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Wednesday, October 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. TCG BDC currently has a consensus rating of “Buy” and a consensus target price of $17.75.

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TCG BDC Company Profile

TCG BDC, Inc is a non-diversified closed-end investment company. The fund operates as a business development company. The company provides debt investments in the U.S. middle market companies. It also invests in first lien and second lien senior secured loans; middle market junior loans, such as corporate mezzanine loans, equity co-investments, syndicated first lien and second lien senior secured loans, high-yield bonds, structured finance obligations, and other opportunistic investments.

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Earnings History for TCG BDC (NASDAQ:CGBD)

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