Blackrock Tcp Capital (NASDAQ:TCPC) Issues Quarterly Earnings Results

Blackrock Tcp Capital (NASDAQ:TCPC) reported quarterly earnings of $0.32 per share, missing estimates of $0.33. The company had revenue of $50.52 million, below the expected $51.01 million. It declared a quarterly dividend of $0.25, yielding 17.5%. Analysts have mixed ratings, with a consensus rating of 'Sell' and an average price target of $6.75. The stock traded down to $5.70, with a market cap of $484.71 million and a P/E ratio of -33.53. The company specializes in investments in middle-market businesses and various debt instruments.

Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) released its quarterly earnings data on Thursday. The investment management company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.01), Zacks reports. Blackrock Tcp Capital had a positive return on equity of 15.12% and a negative net margin of 4.98%.The company had revenue of $50.52 million for the quarter, compared to the consensus estimate of $51.01 million.

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Blackrock Tcp Capital Price Performance

Shares of TCPC stock traded down $0.08 during trading on Friday, hitting $5.70. The company had a trading volume of 1,076,839 shares, compared to its average volume of 614,578. The firm has a market capitalization of $484.71 million, a P/E ratio of -33.53 and a beta of 1.03. Blackrock Tcp Capital has a one year low of $5.39 and a one year high of $9.72. The company has a debt-to-equity ratio of 1.59, a quick ratio of 14.07 and a current ratio of 14.06. The stock's 50-day moving average price is $6.20 and its 200 day moving average price is $7.00.

Blackrock Tcp Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 17.5%. The ex-dividend date is Wednesday, December 17th. Blackrock Tcp Capital's payout ratio is presently -588.24%.

Hedge Funds Weigh In On Blackrock Tcp Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning bought a new stake in shares of Blackrock Tcp Capital during the 2nd quarter valued at $85,000. Jane Street Group LLC acquired a new position in Blackrock Tcp Capital in the second quarter valued at about $157,000. XTX Topco Ltd bought a new stake in Blackrock Tcp Capital during the second quarter worth about $166,000. Caxton Associates LLP lifted its position in Blackrock Tcp Capital by 16.2% during the second quarter. Caxton Associates LLP now owns 60,779 shares of the investment management company's stock worth $468,000 after purchasing an additional 8,479 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its stake in Blackrock Tcp Capital by 4.4% during the second quarter. CANADA LIFE ASSURANCE Co now owns 86,364 shares of the investment management company's stock worth $664,000 after buying an additional 3,648 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Blackrock Tcp Capital in a report on Wednesday, October 8th. Wells Fargo & Company restated an "underweight" rating and set a $6.00 price objective (down previously from $6.50) on shares of Blackrock Tcp Capital in a report on Tuesday, August 12th. Finally, Wall Street Zen upgraded Blackrock Tcp Capital from a "sell" rating to a "hold" rating in a research note on Sunday, November 2nd. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Sell" and an average price target of $6.75.

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About Blackrock Tcp Capital

(Get Free Report)

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.

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