BlackRock TCP Capital (NASDAQ:TCPC) Issues Earnings Results, Misses Estimates By $0.04 EPS

BlackRock TCP Capital (NASDAQ:TCPC) announced its quarterly earnings data on Wednesday. The investment management company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.04), Zacks reports. The firm had revenue of $70.93 million for the quarter, compared to analyst estimates of $69.13 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same quarter in the prior year, the firm earned $0.49 earnings per share.

BlackRock TCP Capital Trading Up 1.9 %

Shares of BlackRock TCP Capital stock traded up $0.16 on Thursday, hitting $8.71. The stock had a trading volume of 1,090,442 shares, compared to its average volume of 500,794. The stock has a 50 day moving average of $8.44 and a 200 day moving average of $9.74. The firm has a market capitalization of $745.49 million, a P/E ratio of -16.43 and a beta of 1.47. BlackRock TCP Capital has a twelve month low of $7.71 and a twelve month high of $12.43. The company has a debt-to-equity ratio of 1.51, a quick ratio of 44.47 and a current ratio of 44.47.

BlackRock TCP Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 20.21%. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Tuesday, December 17th. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -256.60%.

Insider Buying and Selling

In other BlackRock TCP Capital news, Director Philip M. Tseng purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was purchased at an average cost of $9.10 per share, for a total transaction of $91,000.00. Following the transaction, the director now owns 27,481 shares in the company, valued at $250,077.10. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Philip M. Tseng acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $9.07 per share, with a total value of $45,350.00. Following the completion of the purchase, the director now directly owns 17,481 shares in the company, valued at $158,552.67. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Philip M. Tseng bought 10,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average cost of $9.10 per share, with a total value of $91,000.00. Following the transaction, the director now directly owns 27,481 shares in the company, valued at approximately $250,077.10. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 42,000 shares of company stock worth $381,875 in the last ninety days. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TCPC shares. Keefe, Bruyette & Woods decreased their price target on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. LADENBURG THALM/SH SH cut BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company increased their target price on shares of BlackRock TCP Capital from $7.50 to $8.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, StockNews.com raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Thursday. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.00.

About BlackRock TCP Capital

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.