TCP Capital Corp. (TCPC) to Release Quarterly Earnings on Thursday
TCP Capital Corp. (NASDAQ:TCPC) is scheduled to announce its earnings results before the market opens on Thursday, August 3rd. Analysts expect the company to announce earnings of $0.38 per share for the quarter.
TCP Capital Corp. (NASDAQ:TCPC) last released its quarterly earnings results on Tuesday, May 9th. The investment management company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.09. The business had revenue of $39.34 million for the quarter, compared to analysts’ expectations of $38.75 million. TCP Capital Corp. had a net margin of 58.13% and a return on equity of 12.48%. On average, analysts expect TCP Capital Corp. to post $1.53 EPS for the current fiscal year and $1.58 EPS for the next fiscal year.
Shares of TCP Capital Corp. (TCPC) opened at 16.63 on Thursday. The company has a 50-day moving average of $16.79 and a 200 day moving average of $16.96. TCP Capital Corp. has a 12-month low of $15.33 and a 12-month high of $17.47.
The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 8.66%. The ex-dividend date of this dividend was Wednesday, June 14th. TCP Capital Corp.’s dividend payout ratio is presently 88.34%.
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In related news, Director Brian F. Wruble acquired 10,000 shares of the stock in a transaction on Friday, June 23rd. The shares were bought at an average price of $16.63 per share, with a total value of $166,300.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $332,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.56% of the company’s stock.
A number of analysts have recently issued reports on the company. Zacks Investment Research lowered TCP Capital Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, May 17th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $18.00 price target on shares of TCP Capital Corp. in a research note on Friday, April 28th. National Securities reaffirmed a “neutral” rating and issued a $17.00 price target on shares of TCP Capital Corp. in a research note on Wednesday, April 26th. BidaskClub lowered TCP Capital Corp. from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, Deutsche Bank AG raised TCP Capital Corp. from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $17.38.
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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