JPMorgan Chase Lowers Tcg Bdc (CGBD) to Neutral

JPMorgan Chase lowered shares of Tcg Bdc (NASDAQ:CGBD) from an overweight rating to a neutral rating in a research note released on Wednesday, reports. JPMorgan Chase currently has $19.00 price objective on the stock.

A number of other equities analysts have also recently commented on the company. Citigroup assumed coverage on Tcg Bdc in a report on Wednesday, March 28th. They issued a buy rating for the company. Zacks Investment Research upgraded Tcg Bdc from a sell rating to a hold rating in a report on Thursday, February 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $19.50.

Shares of Tcg Bdc stock traded up $0.11 on Wednesday, reaching $17.84. The company had a trading volume of 2,211 shares, compared to its average volume of 130,202. The stock has a market cap of $1,122.48 and a price-to-earnings ratio of 10.19. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.53 and a current ratio of 0.53. Tcg Bdc has a 1 year low of $16.76 and a 1 year high of $20.30.

Tcg Bdc (NASDAQ:CGBD) last announced its earnings results on Tuesday, February 27th. The company reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.03. The firm had revenue of $49.51 million during the quarter, compared to analysts’ expectations of $46.10 million. Tcg Bdc had a return on equity of 8.93% and a net margin of 51.03%. sell-side analysts predict that Tcg Bdc will post 1.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 17th. Stockholders of record on Thursday, March 29th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date of this dividend is Wednesday, March 28th. Tcg Bdc’s dividend payout ratio (DPR) is 85.06%.

Institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its holdings in shares of Tcg Bdc by 3.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 360,000 shares of the company’s stock worth $6,775,000 after purchasing an additional 12,500 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Tcg Bdc by 117.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 227,656 shares of the company’s stock worth $4,562,000 after acquiring an additional 123,154 shares during the last quarter. Suntrust Banks Inc. bought a new stake in shares of Tcg Bdc during the 4th quarter worth approximately $2,033,000. Muzinich & Co. Inc. lifted its stake in shares of Tcg Bdc by 26.3% during the 4th quarter. Muzinich & Co. Inc. now owns 1,104,243 shares of the company’s stock worth $22,129,000 after acquiring an additional 229,783 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Tcg Bdc during the 4th quarter worth approximately $1,124,000. Hedge funds and other institutional investors own 13.86% of the company’s stock.

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About Tcg Bdc

TCG BDC, Inc, formerly Carlyle GMS Finance, Inc, is a managed and non-diversified closed-end investment company. The Company is focused on lending to middle market companies. The Company’s investment objective is to generate current income and capital appreciation primarily through debt investments in the United States and middle market companies.

Analyst Recommendations for Tcg Bdc (NASDAQ:CGBD)

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