Zacks: Analysts Expect THL Credit, Inc. (NASDAQ:TCRD) to Post $0.27 EPS
Analysts expect THL Credit, Inc. (NASDAQ:TCRD) to report $0.27 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for THL Credit’s earnings, with estimates ranging from $0.27 to $0.28. THL Credit posted earnings per share of $0.35 in the same quarter last year, which indicates a negative year-over-year growth rate of 22.9%. The company is scheduled to report its next quarterly earnings report after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that THL Credit will report full year earnings of $1.13 per share for the current financial year, with EPS estimates ranging from $1.10 to $1.15. For the next fiscal year, analysts forecast that the business will post earnings of $1.16 per share, with EPS estimates ranging from $1.11 to $1.23. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for THL Credit.
THL Credit (NASDAQ:TCRD) last announced its quarterly earnings data on Thursday, May 4th. The investment management company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.02. THL Credit had a return on equity of 10.49% and a net margin of 27.37%. The company had revenue of $19.80 million for the quarter, compared to analyst estimates of $20.13 million. During the same quarter in the previous year, the company earned $0.40 EPS. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year.
TCRD has been the topic of several research analyst reports. Keefe, Bruyette & Woods restated a “hold” rating and issued a $10.50 price target on shares of THL Credit in a research report on Tuesday, April 11th. TheStreet lowered shares of THL Credit from a “b-” rating to a “c” rating in a research report on Monday, April 10th. Maxim Group restated a “buy” rating and issued a $12.00 price target on shares of THL Credit in a research report on Friday, May 5th. National Securities upgraded shares of THL Credit from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $12.00 in a research report on Monday, May 8th. Finally, Deutsche Bank AG decreased their price target on shares of THL Credit from $10.75 to $10.50 and set a “buy” rating on the stock in a research report on Monday, May 8th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.92.
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In other THL Credit news, CEO Sam W. Tillinghast purchased 5,000 shares of the stock in a transaction dated Tuesday, June 6th. The stock was bought at an average price of $10.01 per share, for a total transaction of $50,050.00. Following the transaction, the chief executive officer now directly owns 127,704 shares in the company, valued at $1,278,317.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have bought 6,925 shares of company stock valued at $69,056. 0.79% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of TCRD. Oxford Asset Management purchased a new position in shares of THL Credit during the first quarter worth about $110,000. Stifel Financial Corp purchased a new position in shares of THL Credit during the first quarter worth about $130,000. Founders Financial Securities LLC purchased a new position in shares of THL Credit during the first quarter worth about $135,000. Nine Chapters Capital Management LLC purchased a new position in shares of THL Credit during the first quarter worth about $176,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of THL Credit by 19.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,117 shares of the investment management company’s stock worth $210,000 after buying an additional 3,388 shares in the last quarter. Hedge funds and other institutional investors own 48.85% of the company’s stock.
Shares of THL Credit (NASDAQ:TCRD) opened at 10.20 on Monday. The firm has a 50-day moving average price of $9.94 and a 200-day moving average price of $10.05. THL Credit has a one year low of $8.75 and a one year high of $11.84.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 10.66%. The ex-dividend date of this dividend was Tuesday, June 13th. THL Credit’s dividend payout ratio is 158.82%.
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 lower middle market companies.
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