Keefe, Bruyette & Woods Cuts BlackRock TCP Capital (NASDAQ:TCPC) Price Target to $10.50

BlackRock TCP Capital (NASDAQ:TCPCFree Report) had its price target cut by Keefe, Bruyette & Woods from $11.50 to $10.50 in a research note issued to investors on Friday, Benzinga reports. They currently have a market perform rating on the investment management company’s stock.

Several other research analysts also recently issued reports on the company. Wells Fargo & Company upped their price objective on BlackRock TCP Capital from $11.00 to $11.50 and gave the company an equal weight rating in a research note on Monday, January 29th. JMP Securities reissued a market perform rating on shares of BlackRock TCP Capital in a research report on Friday, March 1st. Oppenheimer restated a market perform rating and set a $11.00 price objective (down from $13.00) on shares of BlackRock TCP Capital in a research note on Wednesday, March 6th. Finally, Raymond James downgraded BlackRock TCP Capital from an outperform rating to a market perform rating in a research note on Friday, March 1st. Six research analysts have rated the stock with a hold rating, According to MarketBeat, BlackRock TCP Capital currently has an average rating of Hold and a consensus target price of $11.25.

Get Our Latest Report on BlackRock TCP Capital

BlackRock TCP Capital Stock Down 2.7 %

TCPC stock opened at $9.90 on Friday. The company has a market cap of $571.92 million, a PE ratio of 15.00 and a beta of 1.43. The business has a 50-day simple moving average of $11.01 and a 200 day simple moving average of $11.35. BlackRock TCP Capital has a 52 week low of $9.60 and a 52 week high of $13.00. The company has a quick ratio of 30.47, a current ratio of 30.47 and a debt-to-equity ratio of 1.43.

BlackRock TCP Capital (NASDAQ:TCPCGet Free Report) last posted its quarterly earnings results on Thursday, February 29th. The investment management company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). The company had revenue of $50.85 million during the quarter, compared to analyst estimates of $53.36 million. BlackRock TCP Capital had a net margin of 18.38% and a return on equity of 14.59%. Sell-side analysts anticipate that BlackRock TCP Capital will post 1.73 EPS for the current fiscal year.

BlackRock TCP Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 14th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 13.74%. The ex-dividend date is Wednesday, March 13th. BlackRock TCP Capital’s payout ratio is currently 206.06%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its stake in BlackRock TCP Capital by 1,250.0% during the fourth quarter. BNP Paribas Financial Markets now owns 2,700 shares of the investment management company’s stock valued at $31,000 after acquiring an additional 2,500 shares in the last quarter. Morton Brown Family Wealth LLC purchased a new stake in shares of BlackRock TCP Capital in the 4th quarter valued at about $32,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of BlackRock TCP Capital during the 4th quarter valued at about $32,000. Tower Research Capital LLC TRC grew its holdings in shares of BlackRock TCP Capital by 817.2% during the third quarter. Tower Research Capital LLC TRC now owns 3,201 shares of the investment management company’s stock worth $35,000 after purchasing an additional 2,852 shares in the last quarter. Finally, Optimum Investment Advisors increased its position in shares of BlackRock TCP Capital by 400.0% in the third quarter. Optimum Investment Advisors now owns 5,000 shares of the investment management company’s stock worth $59,000 after purchasing an additional 4,000 shares during the last quarter.

About BlackRock TCP Capital

(Get Free Report)

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.

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Analyst Recommendations for BlackRock TCP Capital (NASDAQ:TCPC)

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