TCP Capital Corp. (TCPC) Given Average Recommendation of “Buy” by Brokerages
TCP Capital Corp. (NASDAQ:TCPC) has earned an average rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $18.25.
TCPC has been the subject of a number of recent analyst reports. National Securities upgraded shares of TCP Capital Corp. from a “neutral” rating to a “buy” rating and raised their price objective for the company from $17.00 to $19.00 in a research report on Monday, August 7th. BidaskClub downgraded TCP Capital Corp. from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $18.00 price target on shares of TCP Capital Corp. in a research note on Tuesday, July 25th. Zacks Investment Research raised TCP Capital Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, National Bank Financial raised TCP Capital Corp. from a “sector perform” rating to an “outperform” rating in a report on Monday, August 7th.
TCP Capital Corp. (NASDAQ:TCPC) opened at 16.54 on Wednesday. The company has a 50-day moving average price of $16.37 and a 200-day moving average price of $16.78. TCP Capital Corp. has a 12-month low of $15.33 and a 12-month high of $17.47.
TCP Capital Corp. (NASDAQ:TCPC) last issued its earnings results on Thursday, August 3rd. The investment management company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.05. TCP Capital Corp. had a net margin of 54.74% and a return on equity of 12.93%. The business had revenue of $46.23 million for the quarter, compared to the consensus estimate of $40.37 million. On average, equities research analysts predict that TCP Capital Corp. will post $1.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 8.71%. The ex-dividend date was Thursday, September 14th. TCP Capital Corp.’s dividend payout ratio (DPR) is 92.90%.
Several large investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. grew its stake in TCP Capital Corp. by 3.6% in the 2nd quarter. Wedbush Securities Inc. now owns 29,631 shares of the investment management company’s stock valued at $501,000 after acquiring an additional 1,035 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in TCP Capital Corp. by 7.0% during the second quarter. Oppenheimer & Co. Inc. now owns 20,020 shares of the investment management company’s stock worth $338,000 after acquiring an additional 1,306 shares during the last quarter. Global X Management Co. LLC lifted its holdings in shares of TCP Capital Corp. by 49.8% in the first quarter. Global X Management Co. LLC now owns 7,578 shares of the investment management company’s stock valued at $132,000 after purchasing an additional 2,520 shares in the last quarter. Ares Management LLC lifted its holdings in shares of TCP Capital Corp. by 0.9% in the first quarter. Ares Management LLC now owns 453,342 shares of the investment management company’s stock valued at $7,897,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Caxton Associates LP lifted its holdings in shares of TCP Capital Corp. by 10.1% in the second quarter. Caxton Associates LP now owns 44,614 shares of the investment management company’s stock valued at $754,000 after purchasing an additional 4,105 shares in the last quarter. 53.33% of the stock is owned by institutional investors and hedge funds.
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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