BlackRock TCP Capital (TCPC) to Release Quarterly Earnings on Wednesday

BlackRock TCP Capital (NASDAQ:TCPC) will announce its earnings results before the market opens on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.40 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. BlackRock TCP Capital had a positive return on equity of 14.42% and a negative net margin of 20.11%. The business had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.39 million. During the same quarter last year, the company earned $0.48 EPS. On average, analysts expect BlackRock TCP Capital to post $2 EPS for the current fiscal year and $1 EPS for the next fiscal year.

BlackRock TCP Capital Price Performance

Shares of NASDAQ:TCPC opened at $7.81 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 44.47 and a quick ratio of 44.47. BlackRock TCP Capital has a 12 month low of $7.71 and a 12 month high of $12.43. The company’s fifty day moving average price is $8.50 and its 200 day moving average price is $9.78. The firm has a market capitalization of $668.47 million, a P/E ratio of -14.72 and a beta of 1.47.

BlackRock TCP Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 17.41%. The ex-dividend date of this dividend was Monday, September 16th. BlackRock TCP Capital’s payout ratio is currently -256.60%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. LADENBURG THALM/SH SH lowered BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. StockNews.com cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods lowered their target price on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a report on Thursday, August 8th. Finally, Wells Fargo & Company reduced their target price on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.83.

Insider Buying and Selling at BlackRock TCP Capital

In other BlackRock TCP Capital news, CEO Rajneesh Vig bought 25,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were bought at an average cost of $9.09 per share, with a total value of $227,250.00. Following the transaction, the chief executive officer now directly owns 130,930 shares in the company, valued at approximately $1,190,153.70. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Rajneesh Vig acquired 25,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was acquired at an average cost of $9.09 per share, for a total transaction of $227,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 130,930 shares of the company’s stock, valued at approximately $1,190,153.70. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Philip M. Tseng purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was acquired at an average price of $9.10 per share, for a total transaction of $91,000.00. Following the transaction, the director now owns 27,481 shares of the company’s stock, valued at $250,077.10. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 42,000 shares of company stock valued at $381,875 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.