Wall Street analysts forecast that BlackRock TCP Capital Corp. (NASDAQ:TCPC – Get Rating) will post $41.62 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for BlackRock TCP Capital’s earnings, with the lowest sales estimate coming in at $40.45 million and the highest estimate coming in at $42.79 million. BlackRock TCP Capital reported sales of $41.65 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.1%. The business is expected to report its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that BlackRock TCP Capital will report full-year sales of $170.83 million for the current financial year, with estimates ranging from $164.34 million to $177.32 million. For the next financial year, analysts expect that the business will post sales of $186.85 million, with estimates ranging from $166.98 million to $206.71 million. Zacks’ sales averages are an average based on a survey of analysts that follow BlackRock TCP Capital.
BlackRock TCP Capital (NASDAQ:TCPC – Get Rating) last issued its earnings results on Wednesday, May 4th. The investment management company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. BlackRock TCP Capital had a return on equity of 8.98% and a net margin of 66.68%. The firm had revenue of $42.15 million for the quarter, compared to the consensus estimate of $40.55 million. During the same quarter last year, the business posted $0.32 EPS.
A number of large investors have recently made changes to their positions in the stock. Neuberger Berman Group LLC purchased a new stake in BlackRock TCP Capital during the first quarter valued at about $597,000. Global Wealth Management Investment Advisory Inc. increased its stake in shares of BlackRock TCP Capital by 18.5% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 25,874 shares of the investment management company’s stock valued at $370,000 after purchasing an additional 4,044 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of BlackRock TCP Capital by 6.1% during the first quarter. Advisors Asset Management Inc. now owns 357,213 shares of the investment management company’s stock valued at $5,108,000 after purchasing an additional 20,416 shares in the last quarter. Atria Wealth Solutions Inc. bought a new position in shares of BlackRock TCP Capital during the first quarter valued at approximately $216,000. Finally, Bramshill Investments LLC increased its stake in shares of BlackRock TCP Capital by 20.4% during the first quarter. Bramshill Investments LLC now owns 98,097 shares of the investment management company’s stock valued at $1,403,000 after purchasing an additional 16,588 shares in the last quarter. Institutional investors own 24.89% of the company’s stock.
Shares of NASDAQ:TCPC opened at $13.68 on Friday. The firm has a market cap of $790.25 million, a P/E ratio of 7.13 and a beta of 1.50. The company has a quick ratio of 23.74, a current ratio of 23.74 and a debt-to-equity ratio of 1.25. BlackRock TCP Capital has a 12-month low of $12.46 and a 12-month high of $15.05. The business has a fifty day simple moving average of $13.82 and a 200 day simple moving average of $13.71.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, June 15th. This represents a $1.20 annualized dividend and a dividend yield of 8.77%. BlackRock TCP Capital’s payout ratio is currently 62.50%.
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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