Zacks: Brokerages Anticipate BlackRock TCP Capital Corp. (NASDAQ:TCPC) Will Post Quarterly Sales of $41.62 Million

Equities research analysts expect BlackRock TCP Capital Corp. (NASDAQ:TCPCGet Rating) to announce $41.62 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for BlackRock TCP Capital’s earnings. The lowest sales estimate is $40.45 million and the highest is $42.79 million. BlackRock TCP Capital posted sales of $41.65 million during the same quarter last year, which suggests a negative year-over-year growth rate of 0.1%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that BlackRock TCP Capital will report full year sales of $170.83 million for the current fiscal year, with estimates ranging from $164.34 million to $177.32 million. For the next financial year, analysts forecast that the business will post sales of $186.85 million, with estimates ranging from $166.98 million to $206.71 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover BlackRock TCP Capital.

BlackRock TCP Capital (NASDAQ:TCPCGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. BlackRock TCP Capital had a net margin of 66.68% and a return on equity of 8.98%. During the same period in the previous year, the business posted $0.32 earnings per share.

TCPC has been the subject of several analyst reports. Zacks Investment Research raised shares of BlackRock TCP Capital from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Saturday, May 7th. StockNews.com assumed coverage on BlackRock TCP Capital in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $14.92.

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC acquired a new position in BlackRock TCP Capital in the second quarter valued at approximately $287,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of BlackRock TCP Capital by 8.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 58,882 shares of the investment management company’s stock worth $799,000 after buying an additional 4,453 shares during the period. Mackenzie Financial Corp boosted its position in shares of BlackRock TCP Capital by 16.3% during the third quarter. Mackenzie Financial Corp now owns 82,260 shares of the investment management company’s stock worth $1,116,000 after buying an additional 11,545 shares during the period. Boston Private Wealth LLC grew its holdings in shares of BlackRock TCP Capital by 9.7% in the third quarter. Boston Private Wealth LLC now owns 28,189 shares of the investment management company’s stock valued at $382,000 after purchasing an additional 2,490 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in BlackRock TCP Capital by 8.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 268,006 shares of the investment management company’s stock valued at $3,637,000 after buying an additional 21,500 shares during the period. 24.89% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ TCPC traded up $0.03 during midday trading on Friday, reaching $13.38. 475,286 shares of the company’s stock traded hands, compared to its average volume of 212,545. The company has a market cap of $772.96 million, a price-to-earnings ratio of 6.97 and a beta of 1.50. The stock’s 50 day simple moving average is $13.95 and its 200-day simple moving average is $13.79. The company has a quick ratio of 23.74, a current ratio of 23.74 and a debt-to-equity ratio of 1.25. BlackRock TCP Capital has a one year low of $12.71 and a one year high of $15.05.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 16th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 8.97%. The ex-dividend date is Wednesday, June 15th. BlackRock TCP Capital’s payout ratio is 62.50%.

About BlackRock TCP Capital (Get Rating)

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, 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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