UBS Group Upgrades Triangle Capital (TCAP) to Market Perform
UBS Group upgraded shares of Triangle Capital (NYSE:TCAP) from an underperform rating to a market perform rating in a research report report published on Thursday morning, The Fly reports.
TCAP has been the subject of several other reports. Raymond James Financial reiterated an underperform rating on shares of Triangle Capital in a research report on Tuesday, October 17th. National Securities decreased their price objective on Triangle Capital from $16.00 to $11.00 and set a neutral rating for the company in a research report on Monday, November 6th. Hilliard Lyons upgraded Triangle Capital from a neutral rating to a buy rating and set a $14.00 price objective for the company in a research report on Wednesday, October 18th. Stephens lowered Triangle Capital from an overweight rating to an equal weight rating in a research report on Friday, November 3rd. Finally, ValuEngine upgraded Triangle Capital from a hold rating to a buy rating in a research report on Friday, December 1st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $16.00.
Triangle Capital (TCAP) opened at $10.16 on Thursday. The stock has a market capitalization of $485.05, a PE ratio of -11.42, a PEG ratio of 1.47 and a beta of 0.82. Triangle Capital has a 12-month low of $8.91 and a 12-month high of $20.35. The company has a current ratio of 56.98, a quick ratio of 56.98 and a debt-to-equity ratio of 0.87.
Triangle Capital (NYSE:TCAP) last posted its earnings results on Wednesday, November 1st. The credit services provider reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.05). The company had revenue of $29.88 million for the quarter, compared to analyst estimates of $32.84 million. Triangle Capital had a positive return on equity of 10.67% and a negative net margin of 36.80%. Triangle Capital’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share. equities research analysts predict that Triangle Capital will post 1.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 11.81%. The ex-dividend date was Tuesday, December 5th. Triangle Capital’s payout ratio is -134.83%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atlantic Trust Group LLC bought a new stake in Triangle Capital in the 3rd quarter valued at approximately $1,693,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Triangle Capital by 59.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 38,299 shares of the credit services provider’s stock valued at $547,000 after acquiring an additional 14,305 shares in the last quarter. Financial Counselors Inc. bought a new stake in Triangle Capital in the 3rd quarter valued at approximately $143,000. BB&T Securities LLC lifted its stake in Triangle Capital by 86.8% in the 3rd quarter. BB&T Securities LLC now owns 293,689 shares of the credit services provider’s stock valued at $4,193,000 after acquiring an additional 136,508 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware bought a new stake in Triangle Capital in the 3rd quarter valued at approximately $3,075,000. Hedge funds and other institutional investors own 34.92% of the company’s stock.
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About Triangle Capital
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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