Blackrock Tcp Capital Corp. (NASDAQ:TCPC) Announces Quarterly Dividend of $0.17

Blackrock Tcp Capital Corp. (NASDAQ:TCPC) declared a quarterly dividend on Thursday, November 5th. Shareholders of record on Thursday, December 17th will be given a dividend of $0.17 per share by the investment management company on Thursday, December 31st. This represents a $0.68 annualized dividend and a yield of 15.9%. The ex-dividend date of this dividend is Thursday, December 17th.

Blackrock Tcp Capital has a payout ratio of 63.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Blackrock Tcp Capital to earn $0.48 per share next year, which means the company may not be able to cover its $0.68 annual dividend with an expected future payout ratio of 141.7%.

Blackrock Tcp Capital Trading Down 2.3%

TCPC opened at $4.27 on Friday. The firm has a market cap of $358.27 million, a price-to-earnings ratio of -3.34 and a beta of 0.98. Blackrock Tcp Capital has a 52 week low of $3.08 and a 52 week high of $6.25. The business’s 50 day moving average is $4.07 and its two-hundred day moving average is $4.00. The company has a quick ratio of 33.70, a current ratio of 33.70 and a debt-to-equity ratio of 1.65.

Blackrock Tcp Capital (NASDAQ:TCPC) last posted its quarterly earnings data on Thursday, November 5th. The investment management company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. The business had revenue of $28.48 million during the quarter, compared to the consensus estimate of $27.51 million. Blackrock Tcp Capital had a positive return on equity of 13.85% and a negative net margin of 61.27%. On average, research analysts predict that Blackrock Tcp Capital will post 0.66 EPS for the current year.

Analyst Upgrades and Downgrades

TCPC has been the subject of several research reports. Wells Fargo & Company upgraded shares of Blackrock Tcp Capital from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $3.50 to $4.00 in a research report on Tuesday, September 29th. Keefe, Bruyette & Woods upgraded shares of Blackrock Tcp Capital from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $3.50 to $4.00 in a research note on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackrock Tcp Capital in a report on Friday, August 28th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $4.00.

Blackrock Tcp Capital Company Profile

BlackRock TCP Capital Corp. (NASDAQ: TCPC) is a business development company that provides financing to middle-market companies. The company primarily invests in privately negotiated senior secured loans, subordinated debt and other debt securities, while also making select equity investments. Its portfolio companies operate across a range of industries.

The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in established businesses that may require financing for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.