BlackRock TCP Capital (TCPC) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Share on StockTwits

BlackRock TCP Capital (NASDAQ:TCPC) issued its earnings results on Thursday. The investment management company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02, MarketWatch Earnings reports. BlackRock TCP Capital had a return on equity of 11.22% and a net margin of 32.55%. The company had revenue of $49.48 million during the quarter, compared to the consensus estimate of $48.06 million.

NASDAQ:TCPC opened at $14.15 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 6.38 and a current ratio of 6.38. BlackRock TCP Capital has a one year low of $13.71 and a one year high of $16.25. The stock has a market capitalization of $835.05 million, a P/E ratio of 7.11, a price-to-earnings-growth ratio of 1.81 and a beta of 0.70.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 17th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 10.18%. The ex-dividend date of this dividend is Friday, December 14th. BlackRock TCP Capital’s dividend payout ratio (DPR) is 72.36%.

Several brokerages have recently weighed in on TCPC. BidaskClub downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. National Securities reaffirmed a “buy” rating and issued a $19.00 target price on shares of BlackRock TCP Capital in a research report on Monday, August 13th. JMP Securities decreased their target price on BlackRock TCP Capital from $17.00 to $16.50 and set a “market outperform” rating for the company in a research report on Tuesday, August 28th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $17.00 target price on shares of BlackRock TCP Capital in a research report on Wednesday, August 8th. Finally, Wells Fargo & Co decreased their target price on BlackRock TCP Capital from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, October 4th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $16.92.

WARNING: This report was first reported by Week Herald and is owned by of Week Herald. If you are accessing this report on another website, it was stolen and republished in violation of United States & international trademark and copyright legislation. The legal version of this report can be viewed at https://weekherald.com/2018/11/10/blackrock-tcp-capital-tcpc-releases-quarterly-earnings-results-beats-expectations-by-0-02-eps.html.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.

Featured Article: How are Outstanding Shares Different from Authorized Shares?

Earnings History for BlackRock TCP Capital (NASDAQ:TCPC)

Receive News & Ratings for BlackRock TCP Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock TCP Capital and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply