TriplePoint Venture Growth BDC (NYSE:TPVG) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

TriplePoint Venture Growth BDC (NYSE:TPVG) released its earnings results on Wednesday. The investment management company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03), Yahoo Finance reports. The company had revenue of $29.27 million for the quarter, compared to analyst estimates of $31.25 million. TriplePoint Venture Growth BDC had a positive return on equity of 19.64% and a negative net margin of 29.68%. During the same period last year, the company posted $0.53 earnings per share.

TriplePoint Venture Growth BDC Stock Down 1.2 %

TriplePoint Venture Growth BDC stock traded down $0.11 during trading hours on Friday, hitting $9.20. The stock had a trading volume of 528,967 shares, compared to its average volume of 252,944. The stock has a market cap of $348.22 million, a price-to-earnings ratio of -8.29 and a beta of 1.75. TriplePoint Venture Growth BDC has a one year low of $8.88 and a one year high of $12.70. The business’s 50 day simple moving average is $9.56 and its 200-day simple moving average is $10.25.

TriplePoint Venture Growth BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 17.39%. TriplePoint Venture Growth BDC’s dividend payout ratio is presently -144.14%.

Wall Street Analysts Forecast Growth

TPVG has been the topic of several analyst reports. Wells Fargo & Company reduced their target price on TriplePoint Venture Growth BDC from $11.00 to $9.50 and set an “equal weight” rating on the stock in a report on Thursday, March 7th. StockNews.com lowered TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Keefe, Bruyette & Woods reduced their price objective on TriplePoint Venture Growth BDC from $9.50 to $9.00 and set an “underperform” rating on the stock in a research note on Thursday, March 7th. Compass Point raised TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 price objective on the stock in a research note on Friday, March 22nd. Finally, Piper Sandler reduced their price objective on TriplePoint Venture Growth BDC from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $10.38.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.