THL Credit Inc. (TCRD) Upgraded by Zacks Investment Research to Hold
THL Credit Inc. (NASDAQ:TCRD) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “THL Credit Inc. is a newly-organized, externally-managed, non-diversified closed-end management investment company that has filed an election to be treated as a business development company. The Company’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies. The Company invests primarily in private subordinated debt, or mezzanine debt, in middle market companies that require capital for growth and acquisitions. Such investments in many cases include an associated equity component such as warrants, preferred stock or other similar securities. The Company’s investment activities are managed by its investment adviser, THL Credit Advisors LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended. “
Several other analysts have also recently issued reports on TCRD. National Securities cut their price objective on THL Credit from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, September 23rd. Deutsche Bank AG cut their price objective on THL Credit from $12.25 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, August 11th. Citigroup Inc. cut their price objective on THL Credit from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday, August 12th. TheStreet upgraded THL Credit from a “hold” rating to a “buy” rating in a research report on Monday, July 11th. Finally, Janney Montgomery Scott initiated coverage on THL Credit in a research report on Friday, June 17th. They set a “neutral” rating and a $12.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $11.80.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/thl-credit-inc-tcrd-upgraded-by-zacks-investment-research-to-hold.html
Shares of THL Credit (NASDAQ:TCRD) traded down 0.21% during midday trading on Tuesday, hitting $9.50. The stock had a trading volume of 22,659 shares. The stock has a 50 day moving average of $9.83 and a 200-day moving average of $10.68. THL Credit has a one year low of $8.58 and a one year high of $12.22.
THL Credit (NASDAQ:TCRD) last announced its quarterly earnings data on Thursday, August 4th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. THL Credit had a positive return on equity of 11.80% and a negative net margin of 2.30%. The firm had revenue of $20.50 million for the quarter, compared to analysts’ expectations of $23.06 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. THL Credit’s revenue for the quarter was down 13.9% compared to the same quarter last year. Analysts anticipate that THL Credit will post $1.41 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a $0.34 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 14.29%. THL Credit’s payout ratio is currently -2,266.29%.
Hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates raised its position in THL Credit by 13.1% in the second quarter. Raymond James & Associates now owns 13,650 shares of the investment management company’s stock valued at $152,000 after buying an additional 1,585 shares during the period. National Planning Corp raised its position in THL Credit by 12.3% in the first quarter. National Planning Corp now owns 16,000 shares of the investment management company’s stock valued at $169,000 after buying an additional 1,750 shares during the period. WFG Advisors LP raised its position in THL Credit by 1.6% in the second quarter. WFG Advisors LP now owns 16,662 shares of the investment management company’s stock valued at $185,000 after buying an additional 263 shares during the period. Ironwood Investment Counsel LLC bought a new position in THL Credit during the second quarter valued at $221,000. Finally, Sigma Planning Corp raised its position in THL Credit by 115.7% in the second quarter. Sigma Planning Corp now owns 24,737 shares of the investment management company’s stock valued at $275,000 after buying an additional 13,271 shares during the period. Institutional investors own 42.17% of the company’s stock.
THL Credit Company Profile
THL Credit, Inc is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for THL Credit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for THL Credit Inc. and related companies with MarketBeat.com's FREE daily email newsletter.