THL Credit Inc. (TCRD) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS
THL Credit Inc. (NASDAQ:TCRD) posted its quarterly earnings results on Wednesday. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The firm had revenue of $21.60 million for the quarter, compared to analyst estimates of $20.47 million. THL Credit had a net margin of 5.92% and a return on equity of 11.72%. The business’s revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share.
THL Credit (NASDAQ:TCRD) opened at 9.62 on Friday. THL Credit has a 1-year low of $8.58 and a 1-year high of $11.95. The stock has a 50 day moving average price of $9.39 and a 200 day moving average price of $10.40.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.08 annualized dividend and a dividend yield of 11.23%. THL Credit’s payout ratio is 850.05%.
Several equities research analysts recently issued reports on TCRD shares. Wells Fargo & Co. lowered THL Credit from an “outperform” rating to a “market perform” rating in a research report on Friday, August 5th. Keefe, Bruyette & Woods lowered THL Credit from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $12.50 to $11.50 in a research report on Monday, August 8th. National Securities reissued a “neutral” rating and set a $12.00 price target on shares of THL Credit in a research report on Monday, August 8th. Zacks Investment Research lowered THL Credit from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Finally, Deutsche Bank AG dropped their price target on THL Credit from $12.25 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, August 11th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. THL Credit currently has a consensus rating of “Hold” and an average price target of $11.80.
A number of hedge funds have recently added to or reduced their stakes in TCRD. M&T Bank Corp acquired a new stake in THL Credit during the third quarter worth about $100,000. Airain ltd acquired a new stake in THL Credit during the third quarter worth about $100,000. Acrospire Investment Management LLC acquired a new stake in THL Credit during the third quarter worth about $108,000. Citadel Advisors LLC acquired a new stake in THL Credit during the third quarter worth about $130,000. Finally, Raymond James & Associates raised its stake in THL Credit by 13.1% in the second quarter. Raymond James & Associates now owns 13,650 shares of the investment management company’s stock worth $152,000 after buying an additional 1,585 shares during the period. 42.03% of the stock is currently owned by hedge funds and other institutional investors.
THL Credit Company Profile
THL Credit, Inc is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies.
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