THL Credit, Inc. (TCRD) Upgraded to “Buy” by ValuEngine
ValuEngine upgraded shares of THL Credit, Inc. (NASDAQ:TCRD) from a hold rating to a buy rating in a research note issued to investors on Friday.
A number of other analysts have also recently commented on TCRD. Jefferies Group LLC reiterated a hold rating and issued a $10.00 target price on shares of THL Credit in a research note on Friday, July 14th. TheStreet upgraded shares of THL Credit from a c+ rating to a b- rating in a research note on Monday, July 31st. National Securities reiterated a buy rating and issued a $12.00 target price on shares of THL Credit in a research note on Monday, August 7th. Deutsche Bank AG cut shares of THL Credit from a buy rating to a hold rating and set a $10.50 target price for the company. in a research note on Tuesday, August 8th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $10.50 target price on shares of THL Credit in a research note on Wednesday, August 16th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $10.90.
THL Credit (NASDAQ:TCRD) traded up $0.44 during mid-day trading on Friday, reaching $9.45. 285,200 shares of the company were exchanged, compared to its average volume of 115,739. The firm has a market cap of $308.77, a PE ratio of 7.75, a PEG ratio of 8.23 and a beta of 1.10. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.53. THL Credit has a one year low of $8.90 and a one year high of $10.60.
THL Credit (NASDAQ:TCRD) last released its earnings results on Thursday, November 9th. The investment management company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.07. The company had revenue of $20.10 million during the quarter, compared to analysts’ expectations of $19.74 million. THL Credit had a net margin of 23.15% and a return on equity of 10.44%. THL Credit’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. sell-side analysts anticipate that THL Credit will post 1.2 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 11.43%. The ex-dividend date is Thursday, December 14th. THL Credit’s payout ratio is 189.48%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp lifted its stake in THL Credit by 12.6% during the 2nd quarter. Van ECK Associates Corp now owns 271,385 shares of the investment management company’s stock valued at $2,700,000 after acquiring an additional 30,421 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its stake in THL Credit by 6.6% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 247,077 shares of the investment management company’s stock valued at $2,305,000 after acquiring an additional 15,391 shares during the period. BB&T Securities LLC lifted its stake in THL Credit by 19.7% during the 2nd quarter. BB&T Securities LLC now owns 220,732 shares of the investment management company’s stock valued at $2,196,000 after acquiring an additional 36,265 shares during the period. OxFORD Asset Management LLP lifted its stake in THL Credit by 1,142.1% during the 2nd quarter. OxFORD Asset Management LLP now owns 137,442 shares of the investment management company’s stock valued at $1,368,000 after acquiring an additional 126,377 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH acquired a new stake in THL Credit during the 2nd quarter valued at approximately $1,032,000. Institutional investors and hedge funds own 45.42% of the company’s stock.
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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