Blackrock Capital Investment Corp (NASDAQ:BKCC) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Tuesday, June 18th will be paid a dividend of 0.18 per share by the asset manager on Tuesday, July 9th. This represents a $0.72 annualized dividend and a yield of 11.56%. The ex-dividend date is Monday, June 17th.
Blackrock Capital Investment has decreased its dividend by an average of 5.0% annually over the last three years. Blackrock Capital Investment has a dividend payout ratio of 110.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Blackrock Capital Investment to earn $0.72 per share next year, which means the company may not be able to cover its $0.72 annual dividend with an expected future payout ratio of 100.0%.
NASDAQ BKCC traded down $0.01 during trading hours on Wednesday, hitting $6.23. The company had a trading volume of 2,401 shares, compared to its average volume of 297,225. Blackrock Capital Investment has a fifty-two week low of $5.06 and a fifty-two week high of $6.64. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market capitalization of $430.23 million, a PE ratio of 9.73, a P/E/G ratio of 9.63 and a beta of 0.78.
Blackrock Capital Investment (NASDAQ:BKCC) last issued its earnings results on Wednesday, May 1st. The asset manager reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.02). Blackrock Capital Investment had a return on equity of 9.17% and a net margin of 11.81%. The company had revenue of $19.32 million during the quarter, compared to analyst estimates of $21.20 million. Equities research analysts expect that Blackrock Capital Investment will post 0.64 earnings per share for the current fiscal year.
A number of brokerages have recently commented on BKCC. Zacks Investment Research lowered Blackrock Capital Investment from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. BidaskClub lowered Blackrock Capital Investment from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Blackrock Capital Investment presently has an average rating of “Hold” and an average target price of $6.00.
In other Blackrock Capital Investment news, CFO Michael Pungello purchased 4,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were bought at an average cost of $6.27 per share, with a total value of $25,080.00. Following the completion of the acquisition, the chief financial officer now owns 13,083 shares of the company’s stock, valued at $82,030.41. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.
A hedge fund recently raised its stake in Blackrock Capital Investment stock. Geode Capital Management LLC increased its position in shares of Blackrock Capital Investment Corp (NASDAQ:BKCC) by 66.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,927 shares of the asset manager’s stock after purchasing an additional 11,564 shares during the period. Geode Capital Management LLC’s holdings in Blackrock Capital Investment were worth $153,000 at the end of the most recent quarter. 31.27% of the stock is owned by institutional investors.
About Blackrock Capital Investment
BlackRock Capital Investment Corporation, formerly known as BlackRock Kelso Capital Corporation, is a Business Development Company specializing in investments in middle market companies. The fund invests in all industries. It prefers to invest between $10 million and $50 million and can invest more or less in companies with EBITDA or operating cash flow between $10 million and $50 million.
Read More: Preferred Stock
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