Brokerages forecast that BlackRock TCP Capital Corp (NASDAQ:TCPC) will post sales of $48.51 million for the current quarter, Zacks reports. Three analysts have provided estimates for BlackRock TCP Capital’s earnings, with the highest sales estimate coming in at $50.01 million and the lowest estimate coming in at $46.66 million. BlackRock TCP Capital reported sales of $47.11 million in the same quarter last year, which indicates a positive year over year growth rate of 3%. The business is scheduled to issue its next quarterly earnings report on Tuesday, February 26th.
On average, analysts expect that BlackRock TCP Capital will report full year sales of $189.70 million for the current year, with estimates ranging from $186.00 million to $192.12 million. For the next financial year, analysts expect that the company will post sales of $198.96 million, with estimates ranging from $190.00 million to $212.33 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for BlackRock TCP Capital.
BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings results on Thursday, November 8th. The investment management company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. BlackRock TCP Capital had a return on equity of 11.56% and a net margin of 31.79%. The company had revenue of $49.48 million for the quarter, compared to analyst estimates of $48.06 million.
Several research firms recently weighed in on TCPC. BidaskClub upgraded BlackRock TCP Capital from a “strong sell” rating to a “sell” rating in a report on Friday, October 12th. Wells Fargo & Co decreased their price target on BlackRock TCP Capital from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, October 4th. National Securities restated a “buy” rating and set a $19.00 price target on shares of BlackRock TCP Capital in a report on Monday, August 13th. Zacks Investment Research lowered BlackRock TCP Capital from a “buy” rating to a “hold” rating in a report on Thursday, November 22nd. Finally, JMP Securities decreased their price target on BlackRock TCP Capital from $17.00 to $16.50 and set a “market outperform” rating on the stock in a report on Tuesday, August 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. BlackRock TCP Capital currently has an average rating of “Buy” and an average price target of $16.90.
In other BlackRock TCP Capital news, CFO Paul L. Davis bought 2,000 shares of BlackRock TCP Capital stock in a transaction on Friday, December 7th. The shares were acquired at an average price of $14.24 per share, for a total transaction of $28,480.00. Following the completion of the purchase, the chief financial officer now directly owns 15,000 shares in the company, valued at approximately $213,600. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen A. Corbet bought 3,000 shares of BlackRock TCP Capital stock in a transaction on Friday, November 30th. The stock was acquired at an average price of $14.36 per share, for a total transaction of $43,080.00. Following the purchase, the director now owns 9,000 shares of the company’s stock, valued at $129,240. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 21,725 shares of company stock worth $304,044. Insiders own 0.55% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Cliffwater LLC increased its stake in BlackRock TCP Capital by 1.3% in the second quarter. Cliffwater LLC now owns 288,395 shares of the investment management company’s stock worth $4,167,000 after purchasing an additional 3,790 shares during the period. Van ECK Associates Corp increased its stake in BlackRock TCP Capital by 1.6% in the second quarter. Van ECK Associates Corp now owns 362,437 shares of the investment management company’s stock worth $5,237,000 after purchasing an additional 5,862 shares during the period. Northern Trust Corp increased its stake in BlackRock TCP Capital by 30.6% in the second quarter. Northern Trust Corp now owns 26,565 shares of the investment management company’s stock worth $384,000 after purchasing an additional 6,220 shares during the period. Oppenheimer & Co. Inc. increased its stake in BlackRock TCP Capital by 22.2% in the third quarter. Oppenheimer & Co. Inc. now owns 37,803 shares of the investment management company’s stock worth $538,000 after purchasing an additional 6,859 shares during the period. Finally, D.A. Davidson & CO. increased its stake in BlackRock TCP Capital by 4.2% in the third quarter. D.A. Davidson & CO. now owns 237,955 shares of the investment management company’s stock worth $3,386,000 after purchasing an additional 9,525 shares during the period. Institutional investors and hedge funds own 45.58% of the company’s stock.
NASDAQ:TCPC opened at $14.25 on Friday. BlackRock TCP Capital has a fifty-two week low of $13.71 and a fifty-two week high of $15.90. The firm has a market cap of $843.04 million, a P/E ratio of 7.16, a P/E/G ratio of 1.80 and a beta of 0.70. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.01 and a current ratio of 2.01.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be paid a $0.36 dividend. The ex-dividend date is Friday, December 14th. This represents a $1.44 dividend on an annualized basis and a yield of 10.11%. BlackRock TCP Capital’s payout ratio is 72.36%.
About BlackRock TCP Capital
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.
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