BlackRock TCP Capital (NASDAQ:TCPC) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

BlackRock TCP Capital (NASDAQ:TCPC) released its quarterly earnings data on Wednesday. The investment management company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04), Zacks reports. The firm had revenue of $70.93 million during 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 period in the prior year, the company earned $0.49 EPS.

BlackRock TCP Capital Stock Up 1.9 %

Shares of TCPC traded up $0.16 during trading hours 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 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 1-year low of $7.71 and a 1-year high of $12.43. The firm has a 50 day simple moving average of $8.44 and a 200-day simple moving average of $9.74. The company has a debt-to-equity ratio of 1.51, a current ratio of 44.47 and a quick ratio of 44.47.

BlackRock TCP Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This is a positive change from BlackRock TCP Capital’s previous quarterly dividend of $0.34. This represents a $1.76 annualized dividend and a yield of 20.21%. BlackRock TCP Capital’s dividend payout ratio is currently -256.60%.

Insider Transactions at BlackRock TCP Capital

In other BlackRock TCP Capital news, Director Philip M. Tseng purchased 5,000 shares of BlackRock TCP Capital stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $9.07 per share, with a total value of $45,350.00. Following the transaction, the director now owns 17,481 shares in the company, valued at $158,552.67. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Rajneesh Vig acquired 25,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was purchased at an average cost of $9.09 per share, with a total value of $227,250.00. Following the completion of the purchase, the chief executive officer now directly owns 130,930 shares in the company, valued at $1,190,153.70. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip M. Tseng bought 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, for a total transaction of $45,350.00. Following the transaction, the director now owns 17,481 shares of the company’s stock, valued at $158,552.67. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 42,000 shares of company stock valued at $381,875 over the last ninety days. 0.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

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