Triangle Capital Corporation (TCAP) Lowered to “Market Perform” at JMP Securities
Other equities research analysts have also recently issued reports about the company. ValuEngine upgraded Triangle Capital Corporation from a hold rating to a buy rating in a research note on Tuesday, August 1st. National Securities reiterated a buy rating and set a $22.00 target price on shares of Triangle Capital Corporation in a research note on Monday, May 8th. Jefferies Group LLC reiterated a buy rating and set a $23.00 target price on shares of Triangle Capital Corporation in a research note on Friday, May 5th. Aegis initiated coverage on Triangle Capital Corporation in a research note on Monday, June 26th. They set a buy rating on the stock. Finally, Hilliard Lyons upgraded Triangle Capital Corporation from a neutral rating to a buy rating and set a $19.00 target price on the stock in a research note on Monday, June 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Triangle Capital Corporation has a consensus rating of Hold and a consensus price target of $18.75.
Triangle Capital Corporation (NYSE TCAP) traded down 0.94% during trading on Wednesday, hitting $13.73. 537,265 shares of the company’s stock traded hands. Triangle Capital Corporation has a 52-week low of $13.62 and a 52-week high of $20.35. The company has a market cap of $655.54 million, a PE ratio of 28.54 and a beta of 0.90. The company’s 50 day moving average price is $17.10 and its 200 day moving average price is $18.31.
Triangle Capital Corporation (NYSE:TCAP) last released its earnings results on Wednesday, August 2nd. The credit services provider reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.01. The business had revenue of $31.20 million for the quarter, compared to the consensus estimate of $33.25 million. Triangle Capital Corporation had a return on equity of 10.51% and a net margin of 16.92%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Analysts expect that Triangle Capital Corporation will post $1.67 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 13.11%. The ex-dividend date of this dividend is Friday, September 1st. Triangle Capital Corporation’s dividend payout ratio (DPR) is currently 346.16%.
In related news, insider C. Robert Jr. Knox sold 3,000 shares of Triangle Capital Corporation stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $17.72, for a total value of $53,160.00. Following the completion of the sale, the insider now owns 75,716 shares of the company’s stock, valued at approximately $1,341,687.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 4.10% of the company’s stock.
A number of large investors have recently made changes to their positions in TCAP. Stephens Inc. AR raised its stake in shares of Triangle Capital Corporation by 30.6% in the second quarter. Stephens Inc. AR now owns 84,871 shares of the credit services provider’s stock valued at $1,495,000 after buying an additional 19,872 shares during the period. Bard Associates Inc. purchased a new stake in shares of Triangle Capital Corporation during the second quarter valued at $282,000. Wells Fargo & Company MN raised its stake in shares of Triangle Capital Corporation by 3.8% in the second quarter. Wells Fargo & Company MN now owns 1,431,092 shares of the credit services provider’s stock valued at $25,216,000 after buying an additional 52,878 shares during the period. CIBC World Markets Inc. purchased a new stake in shares of Triangle Capital Corporation during the second quarter valued at $370,000. Finally, WESPAC Advisors LLC raised its stake in shares of Triangle Capital Corporation by 62.4% in the second quarter. WESPAC Advisors LLC now owns 55,572 shares of the credit services provider’s stock valued at $979,000 after buying an additional 21,356 shares during the period. 31.86% of the stock is owned by institutional investors.
Triangle Capital Corporation Company Profile
Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.
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