Triangle Capital Corporation (TCAP) Expected to Post Quarterly Sales of $32.53 Million
Analysts forecast that Triangle Capital Corporation (NYSE:TCAP) will announce $32.53 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Triangle Capital Corporation’s earnings, with the lowest sales estimate coming in at $30.19 million and the highest estimate coming in at $34.16 million. Triangle Capital Corporation posted sales of $28.42 million in the same quarter last year, which suggests a positive year over year growth rate of 14.5%. The firm is scheduled to announce its next earnings results on Wednesday, August 2nd.
According to Zacks, analysts expect that Triangle Capital Corporation will report full year sales of $32.53 million for the current fiscal year, with estimates ranging from $131.76 million to $138.89 million. For the next financial year, analysts expect that the business will report sales of $155.91 million per share, with estimates ranging from $144.86 million to $161.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Triangle Capital Corporation.
Several research firms have recently issued reports on TCAP. Zacks Investment Research lowered Triangle Capital Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. National Securities reissued a “buy” rating and set a $22.00 target price on shares of Triangle Capital Corporation in a report on Monday, April 10th. Wunderlich began coverage on Triangle Capital Corporation in a report on Wednesday, May 17th. They set a “buy” rating and a $23.00 target price on the stock. Jefferies Group LLC reissued a “buy” rating and set a $23.00 target price on shares of Triangle Capital Corporation in a report on Monday, May 15th. Finally, Aegis began coverage on Triangle Capital Corporation in a report on Monday, June 26th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Triangle Capital Corporation currently has an average rating of “Buy” and an average target price of $21.40.
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Triangle Capital Corporation (NYSE:TCAP) traded down 0.097% during midday trading on Friday, reaching $17.563. 69,148 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $17.87 and a 200 day moving average price of $18.65. The company has a market cap of $837.42 million, a P/E ratio of 23.417 and a beta of 0.90. Triangle Capital Corporation has a 12 month low of $16.40 and a 12 month high of $20.60.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 7th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 10.24%. The ex-dividend date of this dividend was Monday, June 5th. Triangle Capital Corporation’s dividend payout ratio (DPR) is currently 236.85%.
In other news, insider C. Robert Jr. Knox sold 3,000 shares of the stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $17.72, for a total transaction of $53,160.00. Following the sale, the insider now directly owns 75,716 shares of the company’s stock, valued at approximately $1,341,687.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in TCAP. Trust Co. of Vermont bought a new stake in Triangle Capital Corporation during the first quarter valued at about $106,000. Metropolitan Life Insurance Co. NY bought a new stake in Triangle Capital Corporation during the fourth quarter valued at about $109,000. Wilbanks Smith & Thomas Asset Management LLC bought a new stake in Triangle Capital Corporation during the first quarter valued at about $210,000. HL Financial Services LLC raised its stake in Triangle Capital Corporation by 2.7% in the first quarter. HL Financial Services LLC now owns 11,350 shares of the credit services provider’s stock valued at $217,000 after buying an additional 300 shares during the period. Finally, Sheaff Brock Investment Advisors LLC raised its stake in Triangle Capital Corporation by 8.1% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 14,053 shares of the credit services provider’s stock valued at $268,000 after buying an additional 1,048 shares during the period. 31.18% of the stock is currently owned by institutional investors.
Triangle Capital Corporation Company Profile
Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.
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