BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives $10.67 Average PT from Analysts

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has received a consensus recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating. The average 1-year price objective among analysts that have covered the stock in the last year is $9.17.

A number of research firms recently weighed in on TCPC. StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Wells Fargo & Company reduced their price target on shares of BlackRock TCP Capital from $10.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Monday. Oppenheimer reduced their price target on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Keefe, Bruyette & Woods reduced their price target on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating on the stock in a research report on Thursday, August 8th. Finally, LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research report on Thursday, August 8th.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of large investors have recently modified their holdings of the stock. Barings LLC lifted its position in shares of BlackRock TCP Capital by 3,878.9% during the second quarter. Barings LLC now owns 17,492,789 shares of the investment management company’s stock worth $188,922,000 after purchasing an additional 17,053,151 shares in the last quarter. Van ECK Associates Corp lifted its holdings in BlackRock TCP Capital by 17.0% in the second quarter. Van ECK Associates Corp now owns 1,963,463 shares of the investment management company’s stock valued at $21,205,000 after buying an additional 284,802 shares during the period. Transcend Capital Advisors LLC lifted its holdings in BlackRock TCP Capital by 61.5% in the second quarter. Transcend Capital Advisors LLC now owns 780,960 shares of the investment management company’s stock valued at $8,434,000 after buying an additional 297,393 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in BlackRock TCP Capital by 12.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 503,910 shares of the investment management company’s stock valued at $5,442,000 after buying an additional 54,786 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in BlackRock TCP Capital by 7.6% in the second quarter. D.A. Davidson & CO. now owns 468,240 shares of the investment management company’s stock valued at $5,057,000 after buying an additional 33,147 shares during the period.

BlackRock TCP Capital Stock Performance

NASDAQ TCPC opened at $8.70 on Thursday. The stock has a market cap of $744.63 million, a P/E ratio of 24.86 and a beta of 1.49. The company’s 50-day simple moving average is $10.70 and its 200 day simple moving average is $10.65. BlackRock TCP Capital has a twelve month low of $8.68 and a twelve month high of $12.62. The company has a quick ratio of 44.47, a current ratio of 44.47 and a debt-to-equity ratio of 1.51.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its earnings results on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $71.53 million for the quarter, compared to analysts’ expectations of $70.39 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same quarter in the previous year, the firm posted $0.48 earnings per share. As a group, research analysts forecast that BlackRock TCP Capital will post 1.68 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.34 per share. The ex-dividend date is Monday, September 16th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 15.63%. BlackRock TCP Capital’s payout ratio is 388.58%.

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.