Zacks: Brokerages Expect BlackRock TCP Capital Corp (NASDAQ:TCPC) Will Announce Quarterly Sales of $37.27 Million

Wall Street brokerages predict that BlackRock TCP Capital Corp (NASDAQ:TCPC) will report $37.27 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for BlackRock TCP Capital’s earnings, with the highest sales estimate coming in at $37.44 million and the lowest estimate coming in at $37.10 million. BlackRock TCP Capital reported sales of $48.18 million during the same quarter last year, which indicates a negative year-over-year growth rate of 22.6%. The company is scheduled to report its next earnings results on Thursday, August 13th.

On average, analysts expect that BlackRock TCP Capital will report full-year sales of $155.47 million for the current fiscal year, with estimates ranging from $152.56 million to $158.37 million. For the next financial year, analysts expect that the company will report sales of $172.38 million, with estimates ranging from $167.88 million to $176.88 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for BlackRock TCP Capital.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings results on Monday, May 11th. The investment management company reported ($2.74) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($3.11). The firm had revenue of $41.25 million during 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%.

TCPC has been the subject of several research reports. Keefe, Bruyette & Woods lowered shares of BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 31st. JMP Securities cut their target price on shares of BlackRock TCP Capital from $14.50 to $10.50 and set a “market outperform” rating for the company in a research report on Friday, May 15th. Oppenheimer started coverage on shares of BlackRock TCP Capital in a research report on Tuesday, May 12th. They set a “buy” rating and a $12.00 price target for the company. BidaskClub upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Zacks Investment Research upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Friday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. The company currently 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 the firm’s stock in a transaction on Monday, March 16th. The stock was acquired at an average price of $8.31 per share, with a total value of $83,100.00. Following the completion of the purchase, the chief operating officer now owns 59,750 shares of the company’s stock, valued at $496,522.50. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.71% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barnett & Company Inc. purchased a new stake in shares of BlackRock TCP Capital during the first quarter valued at approximately $28,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in shares of BlackRock TCP Capital during the first quarter valued at approximately $29,000. Verus Capital Partners LLC purchased a new stake in shares of BlackRock TCP Capital during the fourth quarter valued at approximately $105,000. IHT Wealth Management LLC purchased a new stake in shares of BlackRock TCP Capital during the first quarter valued at approximately $66,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of BlackRock TCP Capital by 40.2% during the first quarter. Steward Partners Investment Advisory LLC now owns 10,999 shares of the investment management company’s stock valued at $68,000 after buying an additional 3,153 shares during the last quarter. 31.25% of the stock is owned by institutional investors and hedge funds.

NASDAQ:TCPC traded up $0.68 during midday trading on Wednesday, hitting $10.16. The company had a trading volume of 687,722 shares, compared to its average volume of 356,505. BlackRock TCP Capital has a 52-week low of $4.02 and a 52-week high of $14.76. The stock’s fifty day moving average price is $9.05 and its 200-day moving average price is $11.42. The company has a market capitalization of $547.63 million, a PE ratio of 5.96 and a beta of 1.57. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 1.42.

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