Blackrock Tcp Capital (NASDAQ:TCPC) Given New $5.50 Price Target at Wells Fargo & Company
Wells Fargo & Company has lowered its price target for Blackrock Tcp Capital (NASDAQ:TCPC) from $6.00 to $5.50, maintaining an "underweight" rating. This suggests a potential downside of 2.65% from the current price. Other analysts have mixed ratings, with one upgrading to "hold" and two maintaining a "sell" rating. The stock opened at $5.65, with a market cap of $480.45 million and a PE ratio of -33.27. Blackrock Tcp Capital reported earnings of $0.32 per share, missing estimates, and had a revenue of $50.52 million for the quarter.
Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) had its target price reduced by investment analysts at Wells Fargo & Company from $6.00 to $5.50 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "underweight" rating on the investment management company's stock. Wells Fargo & Company's target price would suggest a potential downside of 2.65% from the company's current price.
A number of other equities analysts have also weighed in on TCPC. Wall Street Zen upgraded shares of Blackrock Tcp Capital from a "sell" rating to a "hold" rating in a research report on Sunday, November 2nd. Weiss Ratings reiterated a "sell (d)" rating on shares of Blackrock Tcp Capital in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Sell" and a consensus target price of $6.50.
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Blackrock Tcp Capital Stock Down 0.9%
Shares of Blackrock Tcp Capital stock opened at $5.65 on Monday. The company has a 50-day simple moving average of $6.20 and a two-hundred day simple moving average of $7.00. The stock has a market capitalization of $480.45 million, a PE ratio of -33.27 and a beta of 1.03. Blackrock Tcp Capital has a 52-week low of $5.39 and a 52-week 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.
Blackrock Tcp Capital (NASDAQ:TCPC - Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The investment management company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). The company had revenue of $50.52 million for the quarter, compared to analysts' expectations of $51.01 million. Blackrock Tcp Capital had a negative net margin of 4.98% and a positive return on equity of 15.12%. On average, analysts anticipate that Blackrock Tcp Capital will post 1.65 EPS for the current fiscal year.
Institutional Investors Weigh In On Blackrock Tcp Capital
Institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in Blackrock Tcp Capital in the third quarter valued at $25,000. Nomura Asset Management Co. Ltd. acquired a new stake in Blackrock Tcp Capital in the 2nd quarter valued at $30,000. MTM Investment Management LLC purchased a new stake in Blackrock Tcp Capital in the 2nd quarter worth $46,000. Significant Wealth Partners LLC acquired a new position in Blackrock Tcp Capital during the third quarter worth $71,000. Finally, Spire Wealth Management purchased a new position in Blackrock Tcp Capital during the third quarter valued at $78,000.
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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