Analysts expect that TCP Capital Corp (NASDAQ:TCPC) will post $44.77 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for TCP Capital’s earnings. The lowest sales estimate is $43.78 million and the highest is $45.36 million. TCP Capital reported sales of $39.53 million during the same quarter last year, which would suggest a positive year over year growth rate of 13.3%. The business is expected to announce its next earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that TCP Capital will report full-year sales of $44.77 million for the current financial year, with estimates ranging from $173.00 million to $174.22 million. For the next financial year, analysts expect that the company will post sales of $189.22 million per share, with estimates ranging from $185.30 million to $195.35 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for TCP Capital.
TCP Capital (NASDAQ:TCPC) last announced its earnings results on Tuesday, November 7th. The investment management company reported $0.38 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.38. TCP Capital had a net margin of 49.53% and a return on equity of 12.17%.
Large investors have recently bought and sold shares of the company. HighTower Advisors LLC purchased a new stake in shares of TCP Capital during the second quarter valued at approximately $189,000. Global X MANAGEMENT CO LLC grew its holdings in shares of TCP Capital by 51.4% during the third quarter. Global X MANAGEMENT CO LLC now owns 11,472 shares of the investment management company’s stock valued at $189,000 after buying an additional 3,894 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of TCP Capital during the third quarter valued at approximately $190,000. Hartland & Co. LLC purchased a new stake in shares of TCP Capital during the third quarter valued at approximately $218,000. Finally, Sigma Planning Corp purchased a new stake in shares of TCP Capital during the third quarter valued at approximately $242,000. Hedge funds and other institutional investors own 49.52% of the company’s stock.
TCP Capital (NASDAQ TCPC) opened at $15.46 on Friday. TCP Capital has a one year low of $14.98 and a one year high of $17.47. The firm has a market cap of $911.88, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 1.94 and a beta of 0.71. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.76.
TCP Capital announced that its board has approved a share buyback plan on Tuesday, November 7th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the investment management company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 9.31%. The ex-dividend date of this dividend was Thursday, December 14th. TCP Capital’s dividend payout ratio is 105.11%.
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About TCP Capital
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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