Equities research analysts expect Triangle Capital Co. (NYSE:TCAP) to announce earnings per share of $0.43 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Triangle Capital’s earnings, with the lowest EPS estimate coming in at $0.41 and the highest estimate coming in at $0.45. Triangle Capital posted earnings of $0.49 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 12.2%. The business is scheduled to report its next quarterly earnings results on Wednesday, August 2nd.
On average, analysts expect that Triangle Capital will report full-year earnings of $1.76 per share for the current financial year, with EPS estimates ranging from $1.70 to $1.81. For the next year, analysts anticipate that the company will report earnings of $1.89 per share, with EPS estimates ranging from $1.83 to $2.00. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Triangle Capital.
Triangle Capital (NYSE:TCAP) last posted its earnings results on Wednesday, February 22nd. The credit services provider reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. Triangle Capital had a return on equity of 11.44% and a net margin of 31.88%. The business had revenue of $31.20 million during the quarter, compared to the consensus estimate of $29.49 million. During the same period in the previous year, the business earned $0.58 EPS. The business’s quarterly revenue was up 13.9% on a year-over-year basis.
A number of research firms recently commented on TCAP. Wunderlich began coverage on Triangle Capital in a research note on Wednesday. They issued a “buy” rating and a $23.00 price target for the company. Jefferies Group LLC reiterated a “buy” rating and issued a $23.00 price target on shares of Triangle Capital in a research note on Monday. Zacks Investment Research upgraded Triangle Capital from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Finally, National Securities reiterated a “buy” rating and issued a $22.00 price target on shares of Triangle Capital in a research note on Monday, May 8th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Triangle Capital currently has an average rating of “Buy” and a consensus price target of $21.60.
In other Triangle Capital news, Director W Mccomb Dunwoody sold 49,286 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $18.86, for a total value of $929,533.96. Following the transaction, the director now owns 106,278 shares of the company’s stock, valued at $2,004,403.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Muzinich & Co. Inc. boosted its position in shares of Triangle Capital by 95.5% in the first quarter. Muzinich & Co. Inc. now owns 1,788,633 shares of the credit services provider’s stock worth $34,145,000 after buying an additional 873,912 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Triangle Capital by 19.2% in the first quarter. Wells Fargo & Company MN now owns 1,378,214 shares of the credit services provider’s stock worth $26,310,000 after buying an additional 221,823 shares in the last quarter. UBS Group AG boosted its position in shares of Triangle Capital by 47.7% in the first quarter. UBS Group AG now owns 831,395 shares of the credit services provider’s stock worth $15,872,000 after buying an additional 268,535 shares in the last quarter. Confluence Investment Management LLC boosted its position in shares of Triangle Capital by 7.8% in the first quarter. Confluence Investment Management LLC now owns 513,924 shares of the credit services provider’s stock worth $9,811,000 after buying an additional 37,140 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its position in shares of Triangle Capital by 15.7% in the fourth quarter. Guggenheim Capital LLC now owns 427,831 shares of the credit services provider’s stock worth $7,846,000 after buying an additional 57,948 shares in the last quarter. 29.39% of the stock is currently owned by hedge funds and other institutional investors.
Triangle Capital (NYSE:TCAP) traded up 0.94% during mid-day trading on Friday, hitting $18.28. The stock had a trading volume of 185,268 shares. Triangle Capital has a 12-month low of $16.40 and a 12-month high of $20.60. The firm has a market cap of $871.61 million, a PE ratio of 24.37 and a beta of 0.86. The company has a 50-day moving average of $18.60 and a 200-day moving average of $18.80.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th will be issued a $0.45 dividend. The ex-dividend date is Monday, June 5th. This represents a $1.80 dividend on an annualized basis and a yield of 9.94%. Triangle Capital’s dividend payout ratio is currently 169.81%.
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About Triangle Capital
Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.
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