Zacks: Brokerages Expect Triangle Capital Co. (TCAP) Will Post Quarterly Sales of $28.71 Million

Wall Street analysts expect Triangle Capital Co. (NYSE:TCAP) to announce sales of $28.71 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Triangle Capital’s earnings, with the lowest sales estimate coming in at $28.06 million and the highest estimate coming in at $29.45 million. Triangle Capital reported sales of $31.19 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 8%. The company is expected to report its next quarterly earnings results on Wednesday, February 28th.

On average, analysts expect that Triangle Capital will report full-year sales of $28.71 million for the current financial year, with estimates ranging from $119.36 million to $120.74 million. For the next fiscal year, analysts anticipate that the company will report sales of $118.31 million per share, with estimates ranging from $115.20 million to $122.07 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Triangle Capital.

Triangle Capital (NYSE:TCAP) last issued its earnings results on Wednesday, November 1st. The credit services provider reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.05). The business had revenue of $29.88 million during the quarter, compared to analyst estimates of $32.84 million. Triangle Capital had a negative net margin of 36.80% and a positive return on equity of 10.67%. Triangle Capital’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $0.41 earnings per share.

A number of equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Triangle Capital from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Keefe, Bruyette & Woods set a $18.00 target price on shares of Triangle Capital and gave the company a “hold” rating in a research report on Thursday, October 5th. Raymond James Financial reiterated an “underperform” rating on shares of Triangle Capital in a research report on Tuesday, October 17th. Zacks Investment Research upgraded shares of Triangle Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, National Securities reduced their target price on shares of Triangle Capital from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, October 24th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $16.00.

Institutional investors have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC increased its position in Triangle Capital by 11.4% during the second quarter. IHT Wealth Management LLC now owns 2,450 shares of the credit services provider’s stock worth $249,000 after purchasing an additional 250 shares during the last quarter. WFG Advisors LP acquired a new stake in Triangle Capital during the second quarter worth about $101,000. Financial Counselors Inc. acquired a new stake in Triangle Capital during the third quarter worth about $143,000. Commerce Bank acquired a new stake in Triangle Capital during the third quarter worth about $171,000. Finally, Wasatch Advisors Inc. acquired a new stake in Triangle Capital during the second quarter worth about $235,000. Hedge funds and other institutional investors own 35.15% of the company’s stock.

Shares of Triangle Capital (NYSE TCAP) opened at $9.89 on Friday. The company has a market cap of $472.16, a PE ratio of -10.99, a PEG ratio of 1.37 and a beta of 0.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 56.98 and a quick ratio of 56.98. Triangle Capital has a 12-month low of $8.91 and a 12-month high of $20.35.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 12.13%. The ex-dividend date of this dividend was Tuesday, December 5th. Triangle Capital’s payout ratio is currently -133.33%.

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Triangle Capital 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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