Wall Street brokerages expect TCP Capital Corp. (NASDAQ:TCPC) to post $0.38 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for TCP Capital Corp.’s earnings, with the lowest EPS estimate coming in at $0.38 and the highest estimate coming in at $0.39. TCP Capital Corp. also posted earnings per share of $0.38 in the same quarter last year. The firm is expected to issue its next quarterly earnings report on Tuesday, August 8th.
According to Zacks, analysts expect that TCP Capital Corp. will report full-year earnings of $1.53 per share for the current year, with EPS estimates ranging from $1.50 to $1.56. For the next year, analysts expect that the firm will post earnings of $1.58 per share, with EPS estimates ranging from $1.54 to $1.60. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover TCP Capital Corp..
TCP Capital Corp. (NASDAQ:TCPC) last released its quarterly earnings results on Tuesday, May 9th. The investment management company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. TCP Capital Corp. had a return on equity of 12.48% and a net margin of 58.13%. The company had revenue of $39.34 million for the quarter, compared to analysts’ expectations of $38.75 million.
TCPC has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of TCP Capital Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Keefe, Bruyette & Woods restated a “buy” rating and set a $18.00 target price on shares of TCP Capital Corp. in a report on Friday, April 28th. National Securities restated a “neutral” rating and set a $17.00 target price on shares of TCP Capital Corp. in a report on Wednesday, April 26th. Finally, Deutsche Bank AG upgraded shares of TCP Capital Corp. from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $17.38.
TCP Capital Corp. (NASDAQ:TCPC) traded up 1.46% on Wednesday, reaching $16.72. The company’s stock had a trading volume of 177,813 shares. The firm has a 50 day moving average price of $16.95 and a 200 day moving average price of $16.99. TCP Capital Corp. has a 52 week low of $14.65 and a 52 week high of $17.47.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 8.61%. The ex-dividend date is Wednesday, June 14th. TCP Capital Corp.’s dividend payout ratio (DPR) is 88.34%.
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In other news, Director Kathleen A. Corbet purchased 3,500 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The shares were purchased at an average price of $16.54 per share, with a total value of $57,890.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.56% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Capstone Investment Advisors LLC purchased a new stake in TCP Capital Corp. during the fourth quarter valued at about $174,000. A.R.T. Advisors LLC purchased a new stake in TCP Capital Corp. during the fourth quarter valued at about $207,000. Two Sigma Investments LP increased its stake in TCP Capital Corp. by 3.6% in the fourth quarter. Two Sigma Investments LP now owns 162,087 shares of the investment management company’s stock valued at $2,739,000 after buying an additional 5,679 shares during the period. Guggenheim Capital LLC increased its stake in TCP Capital Corp. by 22.8% in the fourth quarter. Guggenheim Capital LLC now owns 342,096 shares of the investment management company’s stock valued at $5,781,000 after buying an additional 63,462 shares during the period. Finally, Nationwide Fund Advisors increased its stake in TCP Capital Corp. by 15.1% in the first quarter. Nationwide Fund Advisors now owns 40,359 shares of the investment management company’s stock valued at $703,000 after buying an additional 5,300 shares during the period. 50.43% of the stock is currently owned by hedge funds and other institutional investors.
About TCP Capital Corp.
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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