THL Credit, Inc. (TCRD) Receives Average Rating of “Hold” from Analysts
Shares of THL Credit, Inc. (NASDAQ:TCRD) have been assigned an average rating of “Hold” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $10.70.
Several equities research analysts recently weighed in on TCRD shares. National Securities dropped their price objective on shares of THL Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, November 13th. ValuEngine upgraded shares of THL Credit from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Maxim Group reiterated a “buy” rating and set a $11.50 price objective on shares of THL Credit in a research note on Friday, November 10th. TheStreet lowered shares of THL Credit from a “b-” rating to a “c+” rating in a research note on Monday, October 9th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $10.50 price objective on shares of THL Credit in a research note on Monday, October 16th.
Several large investors have recently made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ increased its stake in shares of THL Credit by 2.4% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 1,419,629 shares of the investment management company’s stock valued at $13,245,000 after purchasing an additional 33,708 shares during the period. Van ECK Associates Corp increased its stake in shares of THL Credit by 12.6% in the second quarter. Van ECK Associates Corp now owns 271,385 shares of the investment management company’s stock valued at $2,700,000 after purchasing an additional 30,421 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of THL Credit by 6.6% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 247,077 shares of the investment management company’s stock valued at $2,305,000 after purchasing an additional 15,391 shares during the period. OxFORD Asset Management LLP increased its stake in shares of THL Credit by 7.6% in the third quarter. OxFORD Asset Management LLP now owns 147,823 shares of the investment management company’s stock valued at $1,361,000 after purchasing an additional 10,381 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of THL Credit in the second quarter valued at approximately $1,032,000. Institutional investors own 43.77% of the company’s stock.
THL Credit (NASDAQ:TCRD) last released its quarterly earnings data on Thursday, November 9th. The investment management company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.07. The firm had revenue of $20.10 million for the quarter, compared to analyst estimates of $19.74 million. THL Credit had a net margin of 23.15% and a return on equity of 10.53%. THL Credit’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. sell-side analysts forecast that THL Credit will post 1.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a $0.27 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.08 annualized dividend and a dividend yield of 11.84%. THL Credit’s payout ratio is currently 192.86%.
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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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