TCP Capital Corp. (TCPC) to Post FY2016 Earnings of $1.52 Per Share, Oppenheimer Holdings Forecasts
TCP Capital Corp. (NASDAQ:TCPC) – Equities researchers at Oppenheimer Holdings increased their FY2016 earnings estimates for shares of TCP Capital Corp. in a report issued on Tuesday. Oppenheimer Holdings analyst C. Kotowski now anticipates that the brokerage will post earnings of $1.52 per share for the year, up from their previous forecast of $1.50. Oppenheimer Holdings also issued estimates for TCP Capital Corp.’s Q4 2016 earnings at $0.38 EPS.
TCP Capital Corp. (NASDAQ:TCPC) last issued its earnings results on Tuesday, November 8th. The investment management company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. TCP Capital Corp. had a return on equity of 13.16% and a net margin of 40.54%.
A number of other research analysts also recently weighed in on TCPC. JMP Securities reaffirmed a “buy” rating on shares of TCP Capital Corp. in a research note on Friday. National Securities reaffirmed a “buy” rating and set a $17.00 price target on shares of TCP Capital Corp. in a research note on Wednesday, August 10th. FBR & Co reaffirmed a “buy” rating on shares of TCP Capital Corp. in a research note on Thursday, August 18th. DA Davidson reaffirmed a “buy” rating and set a $18.00 price target on shares of TCP Capital Corp. in a research note on Thursday, September 22nd. Finally, Citigroup Inc. upped their price target on TCP Capital Corp. from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 17th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $16.33.
TCP Capital Corp. (NASDAQ:TCPC) opened at 16.55 on Friday. The stock’s 50 day moving average price is $16.21 and its 200 day moving average price is $15.63. TCP Capital Corp. has a 52 week low of $12.00 and a 52 week high of $16.78.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 8.71%. The ex-dividend date of this dividend is Wednesday, December 14th. TCP Capital Corp.’s dividend payout ratio is presently 130.91%.
Several institutional investors have recently added to or reduced their stakes in the stock. Monarch Partners Asset Management LLC acquired a new position in TCP Capital Corp. during the second quarter valued at about $179,000. WFG Advisors LP raised its position in TCP Capital Corp. by 1.3% in the second quarter. WFG Advisors LP now owns 13,849 shares of the investment management company’s stock valued at $212,000 after buying an additional 176 shares in the last quarter. Sigma Planning Corp acquired a new position in TCP Capital Corp. during the second quarter valued at about $229,000. Clinton Group Inc. acquired a new position in TCP Capital Corp. during the second quarter valued at about $233,000. Finally, National Asset Management Inc. acquired a new position in TCP Capital Corp. during the second quarter valued at about $294,000. 45.69% of the stock is owned by institutional investors.
TCP Capital Corp. Company Profile
TCP Capital Corp. is a closed-end, non-diversified management investment company. The Company’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. The Company invests in debt securities of middle-market companies.
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