THL Credit, Inc. (TCRD) Receives $11.00 Consensus PT from Analysts
THL Credit, Inc. (NASDAQ:TCRD) has received an average recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $11.00.
TCRD has been the subject of several research reports. TheStreet raised THL Credit from a “c+” rating to a “b-” rating in a research note on Monday, July 31st. National Securities reissued a “buy” rating and issued a $12.00 target price on shares of THL Credit in a research note on Monday, August 7th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $10.50 price objective on shares of THL Credit in a research note on Wednesday, August 16th. Deutsche Bank AG cut THL Credit from a “buy” rating to a “hold” rating and set a $10.50 price objective for the company. in a research note on Tuesday, August 8th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $10.00 price objective on shares of THL Credit in a research note on Friday, July 14th.
Several institutional investors have recently made changes to their positions in the stock. Confluence Investment Management LLC grew its stake in shares of THL Credit by 2.6% during the second quarter. Confluence Investment Management LLC now owns 1,076,343 shares of the investment management company’s stock worth $10,710,000 after purchasing an additional 27,108 shares during the period. Ares Management LLC grew its stake in shares of THL Credit by 4.2% during the first quarter. Ares Management LLC now owns 1,060,152 shares of the investment management company’s stock worth $10,559,000 after purchasing an additional 42,701 shares during the period. Muzinich & Co. Inc. grew its stake in shares of THL Credit by 103.5% during the first quarter. Muzinich & Co. Inc. now owns 898,081 shares of the investment management company’s stock worth $8,945,000 after purchasing an additional 456,685 shares during the period. UBS Group AG grew its stake in shares of THL Credit by 20.6% during the first quarter. UBS Group AG now owns 806,713 shares of the investment management company’s stock worth $8,035,000 after purchasing an additional 137,939 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of THL Credit by 12.6% during the second quarter. Van ECK Associates Corp now owns 271,385 shares of the investment management company’s stock worth $2,700,000 after purchasing an additional 30,421 shares during the period. 45.59% of the stock is owned by institutional investors and hedge funds.
Shares of THL Credit (NASDAQ TCRD) traded down 0.64% on Thursday, reaching $9.27. The company had a trading volume of 104,490 shares. THL Credit has a one year low of $8.75 and a one year high of $10.60. The company has a 50-day moving average price of $9.66 and a 200-day moving average price of $9.88.
THL Credit (NASDAQ:TCRD) last released its earnings results on Thursday, August 3rd. The investment management company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The company had revenue of $20.28 million during the quarter, compared to analysts’ expectations of $20.35 million. THL Credit had a return on equity of 10.22% and a net margin of 29.81%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the firm earned $0.35 EPS. On average, equities research analysts expect that THL Credit will post $1.14 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 11.65%. THL Credit’s dividend payout ratio (DPR) is presently 145.95%.
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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 lower middle market companies.
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