THL Credit Now Covered by Analysts at SunTrust (TCRD)
Equities researchers at SunTrust began coverage on shares of THL Credit (NASDAQ:TCRD) in a research report issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $15.00 price target on the stock. SunTrust’s price target indicates a potential upside of 11.11% from the stock’s previous close.
Shares of THL Credit (NASDAQ:TCRD) traded up 3.70% during mid-day trading on Thursday, hitting $14.00. 209,566 shares of the company’s stock traded hands. THL Credit has a one year low of $12.80 and a one year high of $17.00. The stock has a 50-day moving average of $13.31 and a 200-day moving average of $14.66. THL Credit also was the recipient of a significant increase in short interest in June. As of June 13th, there was short interest totalling 2,347,417 shares, an increase of 28.3% from the May 30th total of 1,829,184 shares. Based on an average daily trading volume, of 292,375 shares, the short-interest ratio is presently 8.0 days. Approximately 7.3% of the company’s shares are sold short.
THL Credit (NASDAQ:TCRD) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.32 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.33 by $0.01. The company had revenue of $20.90 million for the quarter, compared to the consensus estimate of $21.26 million. During the same quarter last year, the company posted $0.28 earnings per share. THL Credit’s revenue was up 45.1% compared to the same quarter last year. Analysts expect that THL Credit will post $1.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 10.07%. The ex-dividend date of this dividend is Thursday, June 12th.
Several other analysts have also recently commented on the stock. Analysts at Bank of America reiterated a “buy” rating on shares of THL Credit in a research note on Thursday, May 15th. They now have a $14.75 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of THL Credit from $16.00 to $15.00 in a research note on Thursday, May 15th. Finally, analysts at Maxim Group raised their price target on shares of THL Credit from $15.00 to $17.50 in a research note on Wednesday, May 14th. They now have a “buy” rating on the stock. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $15.92.
THL Credit, Inc is a non-diversified, closed-end management investment company. It operates as a business development company.
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