THL Credit, Inc. (TCRD) Expected to Post Earnings of $0.27 Per Share
Equities research analysts expect that THL Credit, Inc. (NASDAQ:TCRD) will report $0.27 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for THL Credit’s earnings, with estimates ranging from $0.26 to $0.28. THL Credit reported earnings per share of $0.32 during the same quarter last year, which suggests a negative year over year growth rate of 15.6%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that THL Credit will report full year earnings of $1.15 per share for the current year, with EPS estimates ranging from $1.12 to $1.17. For the next year, analysts anticipate that the firm will report earnings of $1.11 per share, with EPS estimates ranging from $0.99 to $1.19. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for THL Credit.
THL Credit (NASDAQ:TCRD) last posted its quarterly earnings results on Thursday, August 3rd. The investment management company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. THL Credit had a net margin of 29.81% and a return on equity of 10.22%. The business had revenue of $20.28 million during the quarter, compared to the consensus estimate of $20.35 million. During the same quarter last year, the firm posted $0.35 EPS. THL Credit’s revenue was down 1.0% compared to the same quarter last year.
A number of equities analysts have issued reports on TCRD shares. Deutsche Bank AG downgraded THL Credit from a “buy” rating to a “hold” rating and set a $10.50 price objective for the company. in a report on Tuesday, August 8th. National Securities reiterated a “buy” rating and issued a $12.00 price objective on shares of THL Credit in a report on Monday, August 7th. TheStreet upgraded THL Credit from a “c+” rating to a “b-” rating in a report on Monday, July 31st. Jefferies Group LLC reiterated a “hold” rating and issued a $10.00 price objective on shares of THL Credit in a report on Friday, July 14th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $10.50 price objective on shares of THL Credit in a report on Wednesday, August 16th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $11.00.
Shares of THL Credit (NASDAQ TCRD) opened at 9.10 on Friday. The company has a 50-day moving average of $9.54 and a 200 day moving average of $9.83. THL Credit has a 52-week low of $8.75 and a 52-week high of $10.60.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.27 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 11.87%. THL Credit’s dividend payout ratio is currently 145.95%.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in shares of THL Credit in the second quarter worth $105,000. Oxford Asset Management purchased a new stake in shares of THL Credit in the first quarter worth $110,000. Stifel Financial Corp purchased a new stake in shares of THL Credit in the first quarter worth $130,000. Cetera Investment Advisers purchased a new stake in shares of THL Credit in the second quarter worth $136,000. Finally, CIBC World Markets Inc. purchased a new stake in shares of THL Credit in the second quarter worth $150,000. 45.59% of the stock is currently owned by hedge funds and other institutional investors.
About THL Credit
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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