$48.06 Million in Sales Expected for BlackRock TCP Capital Corp (TCPC) This Quarter

Analysts expect BlackRock TCP Capital Corp (NASDAQ:TCPC) to report $48.06 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for BlackRock TCP Capital’s earnings, with the highest sales estimate coming in at $49.11 million and the lowest estimate coming in at $46.44 million. BlackRock TCP Capital reported sales of $43.29 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11%. The business is expected to announce its next quarterly earnings results before the market opens on Thursday, November 8th.

According to Zacks, analysts expect that BlackRock TCP Capital will report full year sales of $189.66 million for the current year, with estimates ranging from $186.00 million to $192.92 million. For the next financial year, analysts expect that the business will report sales of $200.80 million, with estimates ranging from $190.00 million to $216.20 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for BlackRock TCP Capital.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its earnings results on Wednesday, August 8th. The investment management company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $48.42 million during the quarter, compared to analyst estimates of $47.46 million. BlackRock TCP Capital had a net margin of 32.55% and a return on equity of 11.22%.



A number of brokerages have weighed in on TCPC. BidaskClub lowered shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th. National Securities reiterated a “buy” rating and set a $19.00 target price on shares of BlackRock TCP Capital in a research report on Monday, August 13th. JMP Securities cut their target price on shares of BlackRock TCP Capital from $17.00 to $16.50 and set a “market outperform” rating for the company in a research report on Tuesday, August 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $17.00 target price on shares of BlackRock TCP Capital in a research report on Wednesday, August 8th. Finally, Wells Fargo & Co cut their target price on shares of BlackRock TCP Capital from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, October 4th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $16.92.

Several institutional investors have recently made changes to their positions in TCPC. PNC Financial Services Group Inc. purchased a new stake in shares of BlackRock TCP Capital in the first quarter worth about $114,000. First Republic Investment Management Inc. purchased a new stake in shares of BlackRock TCP Capital in the second quarter worth about $145,000. Stock Yards Bank & Trust Co. purchased a new stake in shares of BlackRock TCP Capital in the third quarter worth about $170,000. Financial Counselors Inc. purchased a new stake in shares of BlackRock TCP Capital in the second quarter worth about $201,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of BlackRock TCP Capital in the second quarter worth about $290,000. 48.21% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:TCPC traded up $0.05 on Monday, reaching $13.89. 206,029 shares of the company’s stock were exchanged, compared to its average volume of 235,959. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $813.59 million, a PE ratio of 6.98, a P/E/G ratio of 1.76 and a beta of 0.76. BlackRock TCP Capital has a 52 week low of $13.71 and a 52 week high of $16.40.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.

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