BlackRock TCP Capital (NASDAQ:TCPC) PT Set at $16.00 by Oppenheimer

BlackRock TCP Capital (NASDAQ:TCPC) has been given a $16.00 price objective by Oppenheimer in a note issued to investors on Friday, TipRanks reports. The brokerage presently has a “buy” rating on the investment management company’s stock. Oppenheimer’s target price indicates a potential upside of 18.78% from the stock’s current price. Oppenheimer also issued estimates for BlackRock TCP Capital’s Q3 2019 earnings at $0.40 EPS, Q4 2019 earnings at $0.40 EPS, Q1 2020 earnings at $0.40 EPS, Q2 2020 earnings at $0.39 EPS, Q3 2020 earnings at $0.39 EPS, Q4 2020 earnings at $0.40 EPS and FY2020 earnings at $1.58 EPS.

Several other research analysts have also recently weighed in on the company. Zacks Investment Research cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Friday, July 12th. TheStreet upgraded BlackRock TCP Capital from a “c+” rating to a “b” rating in a research report on Tuesday, May 28th. ValuEngine cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, July 24th. BidaskClub upgraded BlackRock TCP Capital from a “strong sell” rating to a “sell” rating in a research report on Friday, August 2nd. Finally, National Securities reiterated a “buy” rating and set a $18.00 price target on shares of BlackRock TCP Capital in a research report on Monday, May 13th. Three investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. BlackRock TCP Capital currently has a consensus rating of “Hold” and a consensus target price of $16.30.

Shares of NASDAQ:TCPC traded down $0.02 during trading on Friday, hitting $13.47. The stock had a trading volume of 551,650 shares, compared to its average volume of 244,423. BlackRock TCP Capital has a 12-month low of $12.52 and a 12-month high of $14.88. The firm has a market capitalization of $792.81 million, a PE ratio of 8.47, a price-to-earnings-growth ratio of 2.86 and a beta of 0.70. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.97. The business’s 50-day moving average price is $14.15.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Thursday, August 8th. The investment management company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. BlackRock TCP Capital had a return on equity of 11.32% and a net margin of 14.19%. The firm had revenue of $48.18 million during the quarter, compared to analysts’ expectations of $47.17 million. Equities research analysts anticipate that BlackRock TCP Capital will post 1.61 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC lifted its position in BlackRock TCP Capital by 82.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,412,570 shares of the investment management company’s stock worth $20,030,000 after acquiring an additional 639,240 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of BlackRock TCP Capital by 3.5% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,056,953 shares of the investment management company’s stock worth $14,988,000 after acquiring an additional 36,175 shares in the last quarter. Confluence Investment Management LLC raised its stake in shares of BlackRock TCP Capital by 4.8% during the first quarter. Confluence Investment Management LLC now owns 855,825 shares of the investment management company’s stock worth $12,135,000 after acquiring an additional 39,556 shares in the last quarter. LSV Asset Management raised its stake in shares of BlackRock TCP Capital by 3.0% during the second quarter. LSV Asset Management now owns 585,130 shares of the investment management company’s stock worth $8,338,000 after acquiring an additional 17,200 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of BlackRock TCP Capital by 4.3% during the second quarter. Van ECK Associates Corp now owns 490,498 shares of the investment management company’s stock worth $6,990,000 after acquiring an additional 20,120 shares in the last quarter. 42.85% of the stock is currently owned by institutional investors.

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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