Brokerages Anticipate BlackRock TCP Capital Corp (NASDAQ:TCPC) Will Post Quarterly Sales of $48.62 Million
Equities research analysts expect that BlackRock TCP Capital Corp (NASDAQ:TCPC) will report $48.62 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for BlackRock TCP Capital’s earnings. The lowest sales estimate is $48.20 million and the highest is $49.04 million. BlackRock TCP Capital posted sales of $48.38 million during the same quarter last year, which suggests a positive year over year growth rate of 0.5%. The company is expected to announce its next earnings report on Thursday, February 27th.
According to Zacks, analysts expect that BlackRock TCP Capital will report full year sales of $195.97 million for the current fiscal year, with estimates ranging from $195.55 million to $196.39 million. For the next year, analysts forecast that the company will post sales of $195.85 million, with estimates ranging from $194.16 million to $197.54 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover BlackRock TCP Capital.
Several brokerages have weighed in on TCPC. BidaskClub upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. TheStreet downgraded BlackRock TCP Capital from a “b-” rating to a “c” rating in a research report on Friday, August 30th. Oppenheimer set a $16.00 price objective on BlackRock TCP Capital and gave the company a “buy” rating in a research report on Friday, August 9th. Zacks Investment Research downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th. Finally, ValuEngine downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $16.33.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.36 per share. The ex-dividend date is Monday, December 16th. This represents a $1.44 annualized dividend and a dividend yield of 10.22%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 90.57%.
In other BlackRock TCP Capital news, insider Michael E. Leitner bought 15,000 shares of BlackRock TCP Capital stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average cost of $13.31 per share, with a total value of $199,650.00. Following the completion of the purchase, the insider now owns 15,065 shares of the company’s stock, valued at $200,515.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Howard Levkowitz bought 10,000 shares of BlackRock TCP Capital stock in a transaction dated Thursday, September 5th. The shares were acquired at an average cost of $13.29 per share, for a total transaction of $132,900.00. Following the completion of the purchase, the chief executive officer now directly owns 135,905 shares of the company’s stock, valued at approximately $1,806,177.45. The disclosure for this purchase can be found here. 0.63% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Advisor Networks LLC increased its stake in shares of BlackRock TCP Capital by 2.9% during the third quarter. Cetera Advisor Networks LLC now owns 26,937 shares of the investment management company’s stock valued at $364,000 after buying an additional 768 shares during the period. Jag Capital Management LLC grew its stake in BlackRock TCP Capital by 1.3% in the third quarter. Jag Capital Management LLC now owns 57,954 shares of the investment management company’s stock worth $786,000 after purchasing an additional 769 shares during the period. Sandy Spring Bank purchased a new stake in BlackRock TCP Capital in the second quarter worth $29,000. Truvestments Capital LLC purchased a new stake in BlackRock TCP Capital in the second quarter worth $33,000. Finally, Monument Capital Management grew its stake in BlackRock TCP Capital by 2.9% in the third quarter. Monument Capital Management now owns 86,017 shares of the investment management company’s stock worth $1,166,000 after purchasing an additional 2,412 shares during the period. 41.44% of the stock is currently owned by hedge funds and other institutional investors.
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.
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