$47.17 Million in Sales Expected for BlackRock TCP Capital Corp (TCPC) This Quarter

Wall Street brokerages expect BlackRock TCP Capital Corp (NASDAQ:TCPC) to post sales of $47.17 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for BlackRock TCP Capital’s earnings, with estimates ranging from $44.91 million to $48.30 million. BlackRock TCP Capital reported sales of $48.42 million in the same quarter last year, which indicates a negative year over year growth rate of 2.6%. The company is expected to issue its next earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that BlackRock TCP Capital will report full year sales of $191.81 million for the current year, with estimates ranging from $185.00 million to $196.63 million. For the next fiscal year, analysts forecast that the firm will report sales of $198.36 million, with estimates ranging from $192.00 million to $208.23 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover BlackRock TCP Capital.

BlackRock TCP Capital (NASDAQ:TCPC) last released its quarterly earnings results on Thursday, February 28th. The investment management company reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The firm had revenue of $48.38 million for the quarter, compared to analyst estimates of $49.43 million. BlackRock TCP Capital had a net margin of 21.88% and a return on equity of 11.27%.

A number of analysts have issued reports on the company. BidaskClub raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Tuesday. National Securities reaffirmed a “buy” rating and set a $18.00 price objective on shares of BlackRock TCP Capital in a research report on Monday, May 13th. Finally, Zacks Investment Research upgraded shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $16.50.

NASDAQ TCPC traded down $0.07 on Friday, reaching $14.57. The stock had a trading volume of 4,078 shares, compared to its average volume of 159,921. The firm has a market cap of $860.39 million, a price-to-earnings ratio of 9.16, a PEG ratio of 3.02 and a beta of 0.80. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.97. BlackRock TCP Capital has a 12-month low of $12.52 and a 12-month high of $14.98.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 9.88%. BlackRock TCP Capital’s payout ratio is currently 90.57%.

Hedge funds have recently modified their holdings of the stock. Spectrum Management Group Inc. acquired a new position in shares of BlackRock TCP Capital during the first quarter worth $142,000. Sheaff Brock Investment Advisors LLC acquired a new position in shares of BlackRock TCP Capital during the first quarter worth $147,000. CFO4Life Group LLC acquired a new position in shares of BlackRock TCP Capital during the fourth quarter worth $152,000. Trexquant Investment LP grew its stake in shares of BlackRock TCP Capital by 14.5% during the first quarter. Trexquant Investment LP now owns 12,494 shares of the investment management company’s stock worth $177,000 after purchasing an additional 1,582 shares in the last quarter. Finally, Joel Isaacson & Co. LLC acquired a new position in shares of BlackRock TCP Capital during the fourth quarter worth $209,000. Hedge funds and other institutional investors own 43.20% of the company’s stock.

About BlackRock TCP Capital

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.

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