Triangle Capital Corporation (TCAP) To Go Ex-Dividend on September 1st
Triangle Capital Corporation (NYSE:TCAP) announced a quarterly dividend on Thursday, August 3rd, Wall Street Journal reports. Stockholders of record on Wednesday, September 6th will be given a dividend of 0.45 per share by the credit services provider on Wednesday, September 20th. This represents a $1.80 annualized dividend and a dividend yield of 13.26%. The ex-dividend date of this dividend is Friday, September 1st.
Triangle Capital Corporation has decreased its dividend payment by an average of 4.4% annually over the last three years. Triangle Capital Corporation has a payout ratio of 108.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Triangle Capital Corporation to earn $1.73 per share next year, which means the company may not be able to cover its $1.80 annual dividend with an expected future payout ratio of 104.0%.
Shares of Triangle Capital Corporation (NYSE TCAP) opened at 13.57 on Friday. The firm has a market capitalization of $647.90 million, a price-to-earnings ratio of 28.21 and a beta of 0.90. Triangle Capital Corporation has a 12-month low of $13.18 and a 12-month high of $20.35. The stock’s 50 day moving average price is $15.76 and its 200 day moving average price is $17.83.
Triangle Capital Corporation (NYSE:TCAP) last posted its quarterly earnings results on Wednesday, August 2nd. The credit services provider reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.01. The business had revenue of $31.20 million for the quarter, compared to the consensus estimate of $33.25 million. Triangle Capital Corporation had a net margin of 16.92% and a return on equity of 10.51%. Triangle Capital Corporation’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 earnings per share. Equities research analysts expect that Triangle Capital Corporation will post $1.67 earnings per share for the current year.
TCAP has been the topic of a number of recent analyst reports. ValuEngine raised Triangle Capital Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. National Securities reissued a “buy” rating and set a $22.00 price target on shares of Triangle Capital Corporation in a report on Monday, May 8th. Jefferies Group LLC reissued a “buy” rating and set a $23.00 price target on shares of Triangle Capital Corporation in a report on Friday, May 5th. Aegis initiated coverage on Triangle Capital Corporation in a report on Monday, June 26th. They set a “buy” rating on the stock. Finally, Hilliard Lyons raised Triangle Capital Corporation from a “neutral” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Triangle Capital Corporation currently has an average rating of “Hold” and a consensus target price of $18.75.
In other news, insider C. Robert Jr. Knox sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $17.72, for a total transaction of $53,160.00. Following the completion of the transaction, the insider now owns 75,716 shares in the company, valued at $1,341,687.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.10% of the company’s stock.
Triangle Capital Corporation Company Profile
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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