Triangle Capital Corporation (TCAP) Expected to Announce Earnings of $0.41 Per Share
Analysts expect Triangle Capital Corporation (NYSE:TCAP) to announce $0.41 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Triangle Capital Corporation’s earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $0.44. Triangle Capital Corporation posted earnings of $0.42 per share during the same quarter last year, which would suggest a negative year over year growth rate of 2.4%. The business is expected to issue its next earnings report on Wednesday, November 1st.
On average, analysts expect that Triangle Capital Corporation will report full year earnings of $1.66 per share for the current fiscal year, with EPS estimates ranging from $1.62 to $1.71. For the next fiscal year, analysts anticipate that the business will post earnings of $1.73 per share, with EPS estimates ranging from $1.55 to $1.85. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Triangle Capital Corporation.
Triangle Capital Corporation (NYSE:TCAP) last posted its earnings results on Wednesday, August 2nd. The credit services provider reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.01. Triangle Capital Corporation had a return on equity of 10.51% and a net margin of 16.92%. The business had revenue of $31.20 million for the quarter, compared to analysts’ expectations of $33.25 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Triangle Capital Corporation’s quarterly revenue was up 3.3% compared to the same quarter last year.
Several equities research analysts have recently issued reports on TCAP shares. Zacks Investment Research cut Triangle Capital Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of Triangle Capital Corporation in a report on Friday, May 5th. National Securities reaffirmed a “buy” rating and issued a $22.00 target price on shares of Triangle Capital Corporation in a report on Monday, May 8th. Wunderlich started coverage on Triangle Capital Corporation in a report on Wednesday, May 17th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, Hilliard Lyons raised Triangle Capital Corporation from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Monday, June 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.75.
Triangle Capital Corporation (NYSE:TCAP) traded down 1.50% during trading on Wednesday, reaching $13.75. The company had a trading volume of 201,659 shares. Triangle Capital Corporation has a one year low of $13.45 and a one year high of $20.35. The firm has a market capitalization of $656.49 million, a P/E ratio of 28.59 and a beta of 0.90. The firm’s 50-day moving average price is $16.67 and its 200 day moving average price is $18.14.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.80 annualized dividend and a yield of 12.89%. Triangle Capital Corporation’s dividend payout ratio is currently 346.16%.
In related news, insider C. Robert Jr. Knox sold 3,000 shares of Triangle Capital Corporation stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $17.72, for a total value of $53,160.00. Following the completion of the transaction, the insider now owns 75,716 shares in the company, valued at $1,341,687.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealthsource Partners LLC raised its position in shares of Triangle Capital Corporation by 2.7% in the first quarter. Wealthsource Partners LLC now owns 16,415 shares of the credit services provider’s stock valued at $313,000 after buying an additional 425 shares during the period. HL Financial Services LLC raised its position in shares of 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. Armor Investment Advisors LLC raised its position in shares of Triangle Capital Corporation by 6.9% in the first quarter. Armor Investment Advisors LLC now owns 147,692 shares of the credit services provider’s stock valued at $2,819,000 after buying an additional 9,555 shares during the period. Yorktown Management & Research Co Inc acquired a new position in shares of Triangle Capital Corporation during the first quarter valued at about $5,345,000. Finally, Trust Co. of Vermont acquired a new position in shares of Triangle Capital Corporation during the first quarter valued at about $106,000. Institutional investors and hedge funds own 32.35% of the company’s stock.
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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