Triangle Capital Co. (NYSE:TCAP) – Investment analysts at Jefferies Group decreased their Q3 2018 earnings estimates for shares of Triangle Capital in a report issued on Tuesday, April 17th. Jefferies Group analyst J. Hecht now forecasts that the credit services provider will earn $0.04 per share for the quarter, down from their prior estimate of $0.31. Jefferies Group also issued estimates for Triangle Capital’s Q4 2018 earnings at $0.10 EPS, FY2018 earnings at $0.73 EPS, Q1 2019 earnings at $0.12 EPS, Q2 2019 earnings at $0.13 EPS, Q3 2019 earnings at $0.13 EPS, Q4 2019 earnings at $0.14 EPS and FY2019 earnings at $0.52 EPS.
Triangle Capital (NYSE:TCAP) last released its earnings results on Wednesday, February 28th. The credit services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. The business had revenue of $31.70 million for the quarter, compared to the consensus estimate of $28.85 million. Triangle Capital had a negative net margin of 23.29% and a positive return on equity of 10.67%. During the same period last year, the firm posted $0.46 earnings per share.
Several other research firms also recently weighed in on TCAP. UBS downgraded shares of Triangle Capital to an “underperform” rating in a research report on Thursday, April 5th. Raymond James downgraded shares of Triangle Capital from a “market perform” rating to an “underperform” rating in a research report on Thursday, April 5th. They noted that the move was a valuation call. National Securities reissued a “neutral” rating and issued a $13.00 target price (up from $11.00) on shares of Triangle Capital in a research report on Thursday, April 5th. Keefe, Bruyette & Woods set a $13.00 target price on shares of Triangle Capital and gave the stock a “hold” rating in a research report on Wednesday, April 4th. Finally, TheStreet raised shares of Triangle Capital from a “d+” rating to a “c-” rating in a research report on Wednesday, April 11th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $15.42.
Triangle Capital stock opened at $11.72 on Thursday. The company has a market capitalization of $565.25, a PE ratio of 7.56 and a beta of 0.77. The company has a current ratio of 43.15, a quick ratio of 43.15 and a debt-to-equity ratio of 0.88. Triangle Capital has a fifty-two week low of $8.91 and a fifty-two week high of $19.15.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 28th. Investors of record on Wednesday, March 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 10.24%. The ex-dividend date of this dividend was Tuesday, March 13th. Triangle Capital’s payout ratio is presently 77.42%.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC grew its position in Triangle Capital by 3,985.8% during the fourth quarter. Citadel Advisors LLC now owns 1,747,297 shares of the credit services provider’s stock valued at $16,582,000 after purchasing an additional 1,704,532 shares in the last quarter. Clearbridge LLC grew its position in Triangle Capital by 25.6% during the fourth quarter. Clearbridge LLC now owns 1,266,620 shares of the credit services provider’s stock valued at $12,020,000 after purchasing an additional 258,520 shares in the last quarter. Ares Management LLC grew its position in Triangle Capital by 107.3% during the fourth quarter. Ares Management LLC now owns 942,770 shares of the credit services provider’s stock valued at $8,947,000 after purchasing an additional 487,910 shares in the last quarter. KDI Capital Partners LLC purchased a new position in Triangle Capital during the fourth quarter valued at approximately $6,195,000. Finally, Ironsides Partners LLC purchased a new position in Triangle Capital during the fourth quarter valued at approximately $5,210,000. 45.42% of the stock is currently owned by hedge funds and other institutional investors.
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Triangle Capital Company Profile
Triangle Capital Corporation is a business development company specializing in private equity and mezzanine investments. It focuses on leveraged buyouts, management buyouts, ESOPs, change of control transactions, acquisition financings, growth financing, and recapitalizations in lower middle market, mature, and later stage companies.
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