Wall Street brokerages expect that BlackRock TCP Capital Corp. (NASDAQ:TCPC – Get Rating) will post $0.32 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for BlackRock TCP Capital’s earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.33. BlackRock TCP Capital posted earnings of $0.31 per share in the same quarter last year, which would suggest a positive year over year growth rate of 3.2%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that BlackRock TCP Capital will report full year earnings of $1.32 per share for the current fiscal year, with EPS estimates ranging from $1.28 to $1.37. For the next financial year, analysts forecast that the business will report earnings of $1.41 per share, with EPS estimates ranging from $1.28 to $1.66. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover BlackRock TCP Capital.
BlackRock TCP Capital (NASDAQ:TCPC – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. BlackRock TCP Capital had a return on equity of 8.98% and a net margin of 66.68%. During the same period in the prior year, the company earned $0.32 earnings per share.
Shares of BlackRock TCP Capital stock traded up $0.21 during trading hours on Thursday, hitting $13.25. The company’s stock had a trading volume of 11,141 shares, compared to its average volume of 230,952. BlackRock TCP Capital has a 12 month low of $12.46 and a 12 month high of $15.05. The stock has a 50 day moving average of $13.82 and a 200 day moving average of $13.72. The company has a market capitalization of $765.41 million, a PE ratio of 6.90 and a beta of 1.50. The company has a debt-to-equity ratio of 1.25, a current ratio of 23.74 and a quick ratio of 23.74.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, June 15th. This represents a $1.20 annualized dividend and a dividend yield of 9.06%. BlackRock TCP Capital’s dividend payout ratio is currently 62.50%.
A number of hedge funds and other institutional investors have recently modified their holdings of TCPC. Van ECK Associates Corp raised its stake in BlackRock TCP Capital by 52.6% in the first quarter. Van ECK Associates Corp now owns 1,431,954 shares of the investment management company’s stock valued at $20,477,000 after buying an additional 493,479 shares during the period. Cliffwater LLC increased its stake in shares of BlackRock TCP Capital by 6.8% during the first quarter. Cliffwater LLC now owns 1,151,344 shares of the investment management company’s stock worth $16,464,000 after purchasing an additional 73,460 shares during the period. Invesco Ltd. increased its stake in shares of BlackRock TCP Capital by 0.7% during the fourth quarter. Invesco Ltd. now owns 1,046,404 shares of the investment management company’s stock worth $14,137,000 after purchasing an additional 7,572 shares during the period. Advisors Capital Management LLC increased its stake in shares of BlackRock TCP Capital by 1.9% during the first quarter. Advisors Capital Management LLC now owns 519,761 shares of the investment management company’s stock worth $7,433,000 after purchasing an additional 9,721 shares during the period. Finally, Confluence Investment Management LLC increased its stake in shares of BlackRock TCP Capital by 0.4% during the first quarter. Confluence Investment Management LLC now owns 421,767 shares of the investment management company’s stock worth $6,032,000 after purchasing an additional 1,571 shares during the period. 24.89% of the stock is owned by hedge funds and other institutional investors.
About BlackRock TCP Capital (Get Rating)
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, 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.
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