TCP Capital Corp (TCPC) Receives Average Rating of “Buy” from Brokerages
Shares of TCP Capital Corp (NASDAQ:TCPC) have been assigned a consensus recommendation of “Buy” from the nine research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $17.60.
A number of brokerages have recently commented on TCPC. BidaskClub raised TCP Capital from a “hold” rating to a “buy” rating in a report on Wednesday, July 4th. ValuEngine lowered TCP Capital from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, Zacks Investment Research lowered TCP Capital from a “buy” rating to a “hold” rating in a report on Tuesday, May 15th.
A number of large investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. boosted its stake in TCP Capital by 7.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 85,070 shares of the investment management company’s stock valued at $1,300,000 after purchasing an additional 5,751 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of TCP Capital by 39.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 28,200 shares of the investment management company’s stock worth $401,000 after acquiring an additional 7,937 shares during the period. PNC Financial Services Group Inc. bought a new stake in shares of TCP Capital in the 1st quarter worth approximately $114,000. Punch & Associates Investment Management Inc. bought a new stake in shares of TCP Capital in the 1st quarter worth approximately $151,000. Finally, Great West Life Assurance Co. Can bought a new stake in shares of TCP Capital in the 1st quarter worth approximately $222,000. Hedge funds and other institutional investors own 50.78% of the company’s stock.
TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Wednesday, May 9th. The investment management company reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.02). The company had revenue of $44.22 million for the quarter, compared to analyst estimates of $45.10 million. TCP Capital had a net margin of 45.28% and a return on equity of 11.94%. equities research analysts forecast that TCP Capital will post 1.56 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 29th. Investors of record on Friday, June 15th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, June 14th. This represents a $1.44 annualized dividend and a yield of 9.84%. TCP Capital’s payout ratio is 72.36%.
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.
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