Brokerages Anticipate BlackRock TCP Capital Corp (NASDAQ:TCPC) Will Announce Earnings of $0.30 Per Share

Wall Street analysts expect that BlackRock TCP Capital Corp (NASDAQ:TCPC) will report earnings of $0.30 per share for the current quarter, according to Zacks. Two analysts have provided estimates for BlackRock TCP Capital’s earnings. The lowest EPS estimate is $0.29 and the highest is $0.32. BlackRock TCP Capital reported earnings of $0.41 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 26.8%. The business is scheduled to announce its next quarterly earnings report on Thursday, August 13th.

On average, analysts expect that BlackRock TCP Capital will report full-year earnings of $1.28 per share for the current financial year, with EPS estimates ranging from $1.23 to $1.36. For the next financial year, analysts expect that the firm will post earnings of $1.31 per share, with EPS estimates ranging from $1.20 to $1.54. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow BlackRock TCP Capital.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Monday, May 11th. The investment management company reported ($2.74) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($3.11). The firm had revenue of $41.25 million for the quarter, compared to the consensus estimate of $45.37 million. BlackRock TCP Capital had a positive return on equity of 12.22% and a negative net margin of 33.37%.

A number of equities analysts have commented on TCPC shares. ValuEngine upgraded BlackRock TCP Capital from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 14th. Zacks Investment Research upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Friday, May 29th. JMP Securities lowered their price objective on BlackRock TCP Capital from $14.50 to $10.50 and set a “market outperform” rating on the stock in a research note on Friday, May 15th. BidaskClub upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, TheStreet lowered BlackRock TCP Capital from a “c” rating to a “d+” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $12.30.

In other BlackRock TCP Capital news, COO Rajneesh Vig bought 10,000 shares of BlackRock TCP Capital stock in a transaction on Monday, March 16th. The shares were purchased at an average price of $8.31 per share, with a total value of $83,100.00. Following the acquisition, the chief operating officer now owns 59,750 shares in the company, valued at approximately $496,522.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.71% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Barnett & Company Inc. acquired a new stake in shares of BlackRock TCP Capital in the 1st quarter valued at $28,000. Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of BlackRock TCP Capital during the 1st quarter valued at $29,000. Verus Capital Partners LLC acquired a new stake in shares of BlackRock TCP Capital during the 4th quarter valued at $105,000. IHT Wealth Management LLC acquired a new stake in shares of BlackRock TCP Capital during the 1st quarter valued at $66,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of BlackRock TCP Capital by 40.2% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 10,999 shares of the investment management company’s stock valued at $68,000 after acquiring an additional 3,153 shares in the last quarter. 31.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ TCPC traded up $0.68 during trading hours on Monday, reaching $10.16. 687,722 shares of the stock were exchanged, compared to its average volume of 356,505. The stock’s fifty day simple moving average is $9.05 and its 200 day simple moving average is $11.42. BlackRock TCP Capital has a 52 week low of $4.02 and a 52 week high of $14.76. The company has a debt-to-equity ratio of 1.42, a quick ratio of 3.43 and a current ratio of 3.43. The firm has a market capitalization of $547.63 million, a price-to-earnings ratio of 5.96 and a beta of 1.57.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 14.17%. The ex-dividend date of this dividend is Monday, June 15th. BlackRock TCP Capital’s dividend payout ratio is presently 89.44%.

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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