BlackRock TCP Capital (TCPC) Set to Announce Earnings on Wednesday

BlackRock TCP Capital (NASDAQ:TCPC) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect BlackRock TCP Capital to post earnings of $0.45 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Thursday, February 29th. The investment management company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.04). The firm had revenue of $50.85 million for the quarter, compared to the consensus estimate of $53.36 million. BlackRock TCP Capital had a return on equity of 14.59% and a net margin of 18.38%. On average, analysts expect BlackRock TCP Capital to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ:TCPC opened at $10.16 on Tuesday. The stock has a market capitalization of $586.94 million, a P/E ratio of 15.39 and a beta of 1.43. BlackRock TCP Capital has a 1-year low of $9.61 and a 1-year high of $13.00. The company has a current ratio of 30.47, a quick ratio of 30.47 and a debt-to-equity ratio of 1.43. The business has a 50-day moving average price of $10.38 and a two-hundred day moving average price of $11.06.

BlackRock TCP Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.34 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.36 annualized dividend and a yield of 13.39%. BlackRock TCP Capital’s dividend payout ratio is currently 206.06%.

Analyst Upgrades and Downgrades

TCPC has been the subject of several recent research reports. JMP Securities reissued a “market perform” rating on shares of BlackRock TCP Capital in a report on Friday, March 1st. Raymond James lowered BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, March 1st. Keefe, Bruyette & Woods decreased their target price on BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating for the company in a research report on Friday, March 22nd. Wells Fargo & Company boosted their target price on BlackRock TCP Capital from $11.00 to $11.50 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Finally, Oppenheimer restated a “market perform” rating and set a $11.00 target price (down from $13.00) on shares of BlackRock TCP Capital in a research report on Wednesday, March 6th. Six equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.25.

BlackRock TCP Capital Company Profile

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.