BlackRock TCP Capital (NASDAQ:TCPC) Issues Quarterly Earnings Results, Meets Estimates

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) released its quarterly earnings results on Thursday. The investment management company reported $0.38 EPS for the quarter, hitting analysts' consensus estimates of $0.38, Zacks reports. The business had revenue of $61.25 million for the quarter, compared to analyst estimates of $65.20 million. BlackRock TCP Capital had a negative net margin of 15.22% and a positive return on equity of 14.16%.

BlackRock TCP Capital Price Performance

Shares of TCPC traded down $0.29 during midday trading on Monday, hitting $8.16. The company's stock had a trading volume of 915,467 shares, compared to its average volume of 561,745. The company's fifty day simple moving average is $8.97 and its two-hundred day simple moving average is $8.81. The stock has a market capitalization of $697.99 million, a price-to-earnings ratio of -16.29 and a beta of 1.50. The company has a quick ratio of 39.37, a current ratio of 39.37 and a debt-to-equity ratio of 1.34. BlackRock TCP Capital has a one year low of $7.71 and a one year high of $11.52.

BlackRock TCP Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 12.26%. The ex-dividend date of this dividend is Monday, March 17th. BlackRock TCP Capital's payout ratio is presently -133.33%.

Wall Street Analysts Forecast Growth

TCPC has been the topic of several recent research reports. StockNews.com raised shares of BlackRock TCP Capital from a "sell" rating to a "hold" rating in a report on Monday, November 18th. Wells Fargo & Company lowered their price objective on BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating on the stock in a research note on Friday. Finally, Keefe, Bruyette & Woods cut their target price on BlackRock TCP Capital from $9.00 to $8.50 and set a "market perform" rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to data from MarketBeat.com, BlackRock TCP Capital presently has a consensus rating of "Hold" and a consensus target price of $8.67.

About BlackRock TCP Capital

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.