EPS of $0.32 expected for BlackRock TCP Capital Corp. (NASDAQ:TCPC) this quarter
Wall Street brokerages expect BlackRock TCP Capital Corp. (NASDAQ: TCPC – Get Rating) is reporting earnings of $0.32 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have released earnings estimates for BlackRock TCP Capital. The highest EPS estimate is $0.33 and the lowest is $0.32. BlackRock TCP Capital reported earnings of $0.31 per share in the same quarter last year, which would indicate a positive growth rate of 3.2% year-over-year. The company is expected to announce its next results on Monday, January 1.
On average, analysts expect BlackRock TCP Capital to report annual earnings of $1.32 per share for the current fiscal year, with EPS estimates ranging from $1.28 to $1.37. For next year, analysts expect the company to post earnings of $1.41 per share, with EPS estimates ranging from $1.28 to $1.66. Zacks Investment Research’s EPS calculations are an average average based on a survey of analysts who cover BlackRock TCP Capital.
BlackRock TCP Capital (NASDAQ: TCPC – Get Rating) last released quarterly earnings data on Wednesday, May 4. The investment management firm reported earnings per share of $0.34 for the quarter, beating the consensus estimate of $0.32 by $0.02. BlackRock TCP Capital had a return on equity of 8.98% and a net margin of 66.68%. In the same quarter a year earlier, the company posted EPS of $0.32.
Several research analysts have recently published reports on the company. Zacks Investment Research upgraded BlackRock TCP Capital from a “hold” rating to a “buy” rating and set a target price of $15.00 for the company in a research report on Saturday, May 7. StockNews.com picked up coverage from BlackRock TCP Capital in a Thursday, March 31 research report. They set a “holding” rating for the company. Two analysts gave the stock a hold rating and two gave the company a buy rating. Based on MarketBeat data, BlackRock TCP Capital currently has an average rating of “Buy” and an average target price of $14.92.
Several hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management LP increased its position in shares of BlackRock TCP Capital by 1.2% in the third quarter. Rockefeller Capital Management LP now owns 67,328 shares of the investment management company worth $913,000 after acquiring 807 additional shares last quarter. Envestnet Asset Management Inc. increased its position in BlackRock TCP Capital by 3.4% in Q1. Envestnet Asset Management Inc. now owns 24,316 shares of the investment management company valued at $348,000 after buying an additional 810 shares last quarter. Calton & Associates Inc. increased its position in BlackRock TCP Capital by 6.5% in Q1. Calton & Associates Inc. now owns 17,890 shares of the investment management company valued at $255,000 after buying 1,093 additional shares last quarter. NEXT Financial Group Inc increased its position in BlackRock TCP Capital by 26.4% in Q4. NEXT Financial Group Inc now owns 5,338 shares of the investment management company valued at $72,000 after buying 1,115 additional shares last quarter. Finally, Covington Capital Management increased its position in BlackRock TCP Capital by 1.3% in the 4th quarter. Covington Capital Management now owns 96,000 shares of the investment management firm valued at $1,297,000 after buying an additional 1,190 shares last quarter. 24.89% of the shares are held by hedge funds and other institutional investors.
Shares of NASDAQ TCPC rose $0.21 in Thursday’s midday session, hitting $13.25. 11,141 shares of the stock were traded, against an average volume of 230,952. The company has a market capitalization of $765.41 million, a PE ratio of 6.90 and a beta of 1.50. The company has a debt ratio of 1.25, a current ratio of 23.74 and a quick ratio of 23.74. BlackRock TCP Capital has a 12-month low of $12.46 and a 12-month high of $15.05. The company has a 50-day simple moving average of $13.82 and a two-hundred-day simple moving average of $13.72.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30. Investors of record on Thursday, June 16 will receive a dividend of $0.30 per share. This represents an annualized dividend of $1.20 and a yield of 9.06%. The ex-dividend date is Wednesday, June 15. BlackRock TCP Capital’s dividend payout ratio is currently 62.50%.
About BlackRock TCP Capital (Get an evaluation)
BlackRock TCP Capital Corp. is a business development company specializing in direct middle market equity and debt investments, debt securities, senior secured loans, junior loans, insider loans, mezzanine securities, senior debt, bonds and secondary market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, clothing, textile mills, restaurants, retail, energy, oil extraction and gas, patent owners and lessors, state and federal credit agencies, insurance, hospitals and health centers, biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific consulting and related services , air freight charter, information technology consulting, application hosting services, software layout and design, computer aided design, communication equipment, electronic manufacturing equipment, computer components, chemicals.
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