BlackRock TCP Capital Corp. (NASDAQ:TCPC) Given Average Rating of “Hold” by Analysts

Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) have received a consensus rating of “Hold” from the five ratings firms that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $11.25.

A number of analysts have issued reports on the company. Raymond James downgraded BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, March 1st. Oppenheimer reaffirmed a “market perform” rating and issued a $11.00 target price (down from $13.00) on shares of BlackRock TCP Capital in a research note on Wednesday, March 6th. Keefe, Bruyette & Woods dropped their target price on BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating for the company in a research report on Friday, March 22nd. JMP Securities reaffirmed a “market perform” rating on shares of BlackRock TCP Capital in a research report on Friday, March 1st. Finally, Wells Fargo & Company lifted their price objective on BlackRock TCP Capital from $11.00 to $11.50 and gave the company an “equal weight” rating in a research note on Monday, January 29th.

BlackRock TCP Capital Price Performance

Shares of NASDAQ TCPC opened at $10.16 on Friday. The stock has a market capitalization of $586.94 million, a price-to-earnings ratio of 15.39 and a beta of 1.43. BlackRock TCP Capital has a 12 month low of $9.61 and a 12 month high of $13.00. The firm’s 50 day simple moving average is $10.67 and its 200-day simple moving average is $11.18. The company has a debt-to-equity ratio of 1.43, a current ratio of 30.47 and a quick ratio of 30.47.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its earnings results on Thursday, February 29th. The investment management company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.04). The business had revenue of $50.85 million for the quarter, compared to analysts’ expectations of $53.36 million. BlackRock TCP Capital had a net margin of 18.38% and a return on equity of 14.59%. Analysts expect that BlackRock TCP Capital will post 1.73 EPS for the current year.

BlackRock TCP Capital Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.34 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.36 annualized dividend and a yield of 13.39%. BlackRock TCP Capital’s dividend payout ratio is presently 206.06%.

Institutional Investors Weigh In On BlackRock TCP Capital

Large investors have recently modified their holdings of the stock. Confluence Investment Management LLC bought a new position in BlackRock TCP Capital during the 1st quarter worth approximately $4,172,000. Quadrature Capital Ltd lifted its holdings in BlackRock TCP Capital by 105.1% during the 4th quarter. Quadrature Capital Ltd now owns 20,825 shares of the investment management company’s stock worth $240,000 after buying an additional 10,671 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of BlackRock TCP Capital by 3.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 37,418 shares of the investment management company’s stock worth $432,000 after purchasing an additional 1,200 shares during the last quarter. Tucker Asset Management LLC bought a new stake in shares of BlackRock TCP Capital in the 4th quarter worth approximately $74,000. Finally, ARK & TLK Investments LLC bought a new stake in shares of BlackRock TCP Capital in the 4th quarter worth approximately $159,000.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.