Zacks: TCG BDC, Inc. (CGBD) Given $19.25 Consensus Target Price by Brokerages

TCG BDC, Inc. (NASDAQ:CGBD) has been assigned an average broker rating score of 1.25 (Strong Buy) from the four analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy recommendation and three have given a strong buy recommendation to the company.

Brokerages have set a one year consensus price target of $19.25 for the company and are predicting that the company will post $0.40 earnings per share for the current quarter, according to Zacks. Zacks has also given TCG BDC an industry rank of 89 out of 265 based on the ratings given to related companies.

Separately, Zacks Investment Research upgraded TCG BDC from a “sell” rating to a “hold” rating in a report on Monday, November 13th.

TCG BDC (NASDAQ:CGBD) opened at $17.40 on Tuesday. The company has a market capitalization of $1,090.00 and a PE ratio of 11.15. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.76. TCG BDC has a twelve month low of $16.76 and a twelve month high of $20.30.

TCG BDC (NASDAQ:CGBD) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $42.65 million for the quarter, compared to the consensus estimate of $43.50 million. TCG BDC had a return on equity of 8.82% and a net margin of 50.18%. equities research analysts anticipate that TCG BDC will post 1.7 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 17th. Stockholders of record on Friday, December 29th were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.51%. TCG BDC’s dividend payout ratio (DPR) is 94.87%.

In other news, Director John G. Nestor acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were bought at an average cost of $18.55 per share, for a total transaction of $185,500.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.10% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D raised its holdings in shares of TCG BDC by 18.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 650,000 shares of the company’s stock valued at $12,233,000 after buying an additional 100,000 shares during the period. Alyeska Investment Group L.P. raised its holdings in shares of TCG BDC by 1.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 519,375 shares of the company’s stock valued at $9,775,000 after buying an additional 9,275 shares during the period. Van ECK Associates Corp purchased a new stake in shares of TCG BDC during the 3rd quarter valued at about $8,410,000. Ameriprise Financial Inc. raised its holdings in shares of TCG BDC by 3.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 360,000 shares of the company’s stock valued at $6,775,000 after buying an additional 12,500 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD raised its holdings in shares of TCG BDC by 5.2% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 203,093 shares of the company’s stock valued at $4,069,000 after buying an additional 10,085 shares during the period. Institutional investors and hedge funds own 9.16% of the company’s stock.

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TCG BDC Company Profile

TCG BDC, Inc, formerly Carlyle GMS Finance, Inc, is a managed and non-diversified closed-end investment company. The Company is focused on lending to middle market companies. The Company’s investment objective is to generate current income and capital appreciation primarily through debt investments in the United States and middle market companies.

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