BlackRock TCP Capital (NASDAQ:TCPC) Announces Quarterly Earnings Results

BlackRock TCP Capital (NASDAQ:TCPC) announced its quarterly earnings data on Wednesday. The investment management company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45, Zacks reports. The firm had revenue of $55.73 million for the quarter, compared to analysts’ expectations of $50.99 million. BlackRock TCP Capital had a return on equity of 14.59% and a net margin of 18.38%. During the same quarter in the prior year, the firm posted $0.44 earnings per share.

BlackRock TCP Capital Price Performance

Shares of NASDAQ:TCPC traded down $0.05 on Thursday, reaching $10.37. 311,625 shares of the company traded hands, compared to its average volume of 476,063. BlackRock TCP Capital has a fifty-two week low of $9.80 and a fifty-two week high of $13.00. The company’s 50 day moving average is $10.34 and its 200-day moving average is $11.06. The stock has a market capitalization of $599.07 million, a PE ratio of 15.91 and a beta of 1.42. The company has a debt-to-equity ratio of 1.43, a current ratio of 30.47 and a quick ratio of 30.47.

BlackRock TCP Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 14th were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 13.11%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 206.06%.

Analyst Upgrades and Downgrades

TCPC has been the subject of several recent research reports. Wells Fargo & Company upped their target price on BlackRock TCP Capital from $11.00 to $11.50 and gave the company an “equal weight” rating in a report on Monday, January 29th. Raymond James lowered BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a report on Friday, March 1st. Oppenheimer lowered their target price on BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Thursday. JMP Securities reaffirmed a “market perform” rating on shares of BlackRock TCP Capital in a report on Friday, March 1st. Finally, Keefe, Bruyette & Woods lowered their target price on BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating for the company in a report on Friday, March 22nd. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.00.

About BlackRock TCP Capital

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.