Analysts Expect BlackRock TCP Capital Corp (TCPC) Will Post Quarterly Sales of $48.06 Million

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Equities research analysts expect BlackRock TCP Capital Corp (NASDAQ:TCPC) to post sales of $48.06 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for BlackRock TCP Capital’s earnings, with the lowest sales estimate coming in at $46.44 million and the highest estimate coming in at $49.11 million. BlackRock TCP Capital posted sales of $43.29 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 11%. The business is expected to report its next quarterly earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that BlackRock TCP Capital will report full year sales of $189.66 million for the current year, with estimates ranging from $186.00 million to $192.92 million. For the next fiscal year, analysts expect that the company will report sales of $200.80 million per share, with estimates ranging from $190.00 million to $216.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for BlackRock TCP Capital.

BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Wednesday, August 8th. The investment management company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $48.42 million during the quarter, compared to the consensus estimate of $47.46 million. BlackRock TCP Capital had a net margin of 32.55% and a return on equity of 11.22%.

A number of research analysts recently weighed in on TCPC shares. Zacks Investment Research raised shares of BlackRock TCP Capital from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Saturday, May 12th. BidaskClub cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Monday, May 14th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $17.00 price target on shares of BlackRock TCP Capital in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $17.08.

BlackRock TCP Capital stock traded down $0.13 during mid-day trading on Friday, reaching $14.47. The company’s stock had a trading volume of 292,799 shares, compared to its average volume of 214,430. BlackRock TCP Capital has a 12 month low of $13.72 and a 12 month high of $16.71. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.93.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 9.95%. The ex-dividend date of this dividend is Thursday, September 13th. BlackRock TCP Capital’s dividend payout ratio is currently 72.36%.

A number of hedge funds have recently made changes to their positions in the business. Cliffwater LLC lifted its stake in BlackRock TCP Capital by 1.3% in the second quarter. Cliffwater LLC now owns 288,395 shares of the investment management company’s stock valued at $4,167,000 after acquiring an additional 3,790 shares during the last quarter. TCW Group Inc. lifted its stake in BlackRock TCP Capital by 16.7% in the second quarter. TCW Group Inc. now owns 35,000 shares of the investment management company’s stock valued at $506,000 after acquiring an additional 5,000 shares during the last quarter. Van ECK Associates Corp lifted its stake in BlackRock TCP Capital by 1.6% in the second quarter. Van ECK Associates Corp now owns 362,437 shares of the investment management company’s stock valued at $5,237,000 after acquiring an additional 5,862 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of BlackRock TCP Capital by 39.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 28,200 shares of the investment management company’s stock worth $401,000 after buying an additional 7,937 shares during the last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of BlackRock TCP Capital during the 1st quarter worth about $114,000. Hedge funds and other institutional investors own 51.71% of the company’s stock.

About BlackRock TCP Capital

TCP Capital Corp. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It invests in the debt of middle-market companies, as well as small businesses, including senior secured loans, junior loans, mezzanine debt and bonds.

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