Analysts predict that TCP Capital Corp. (NASDAQ:TCPC) will report earnings of $0.38 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for TCP Capital Corp.’s earnings, with the highest EPS estimate coming in at $0.39 and the lowest estimate coming in at $0.38. TCP Capital Corp. reported earnings of $0.45 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 15.6%. The firm is expected to announce its next earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that TCP Capital Corp. will report full-year earnings of $1.56 per share for the current financial year, with EPS estimates ranging from $1.56 to $1.57. For the next financial year, analysts forecast that the company will report earnings of $1.58 per share, with EPS estimates ranging from $1.54 to $1.62. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover TCP Capital Corp..
A number of equities research analysts recently weighed in on the company. BidaskClub lowered TCP Capital Corp. from a “hold” rating to a “sell” rating in a research report on Sunday, July 16th. Keefe, Bruyette & Woods set a $18.00 price objective on TCP Capital Corp. and gave the stock a “buy” rating in a research report on Friday, October 6th. National Bank Financial upgraded TCP Capital Corp. from a “sector perform” rating to an “outperform” rating in a research report on Monday, August 7th. Finally, National Securities upgraded TCP Capital Corp. from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $17.00 to $19.00 in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $18.25.
TCP Capital Corp. (NASDAQ:TCPC) traded down $0.02 during trading on Thursday, hitting $15.90. The stock had a trading volume of 162,200 shares, compared to its average volume of 132,025. The firm has a market cap of $934.79, a PE ratio of 9.19, a P/E/G ratio of 2.03 and a beta of 0.73. TCP Capital Corp. has a 12 month low of $15.55 and a 12 month high of $17.47. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.18 and a quick ratio of 1.64.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.44 dividend on an annualized basis and a yield of 9.06%. TCP Capital Corp.’s dividend payout ratio is currently 102.13%.
TCP Capital Corp. announced that its Board of Directors has authorized a share repurchase program on Tuesday, November 7th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the investment management company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
A number of hedge funds have recently modified their holdings of TCPC. Sheaff Brock Investment Advisors LLC bought a new stake in shares of TCP Capital Corp. in the 2nd quarter valued at about $182,000. HighTower Advisors LLC bought a new stake in shares of TCP Capital Corp. in the 2nd quarter valued at about $189,000. Global X MANAGEMENT CO LLC grew its position in shares of TCP Capital Corp. by 51.4% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 11,472 shares of the investment management company’s stock valued at $189,000 after buying an additional 3,894 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of TCP Capital Corp. in the 3rd quarter valued at about $190,000. Finally, RFG Advisory Group LLC bought a new stake in shares of TCP Capital Corp. in the 2nd quarter valued at about $206,000. Institutional investors and hedge funds own 53.04% of the company’s stock.
TCP Capital Corp. Company Profile
TCP Capital Corp. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It invests in the debt of middle-market companies, as well as small businesses, including senior secured loans, junior loans, mezzanine debt and bonds.
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