TCG BDC (NASDAQ:CGBD) issued its earnings results on Tuesday. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01, Briefing.com reports. TCG BDC had a net margin of 45.15% and a return on equity of 9.32%. The company had revenue of $51.28 million for the quarter, compared to analyst estimates of $49.12 million. During the same period in the prior year, the business posted $0.45 earnings per share. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year.
Shares of CGBD stock remained flat at $$16.04 during trading hours on Wednesday. 263,700 shares of the stock traded hands, compared to its average volume of 137,581. The firm has a market capitalization of $992.34 million, a price-to-earnings ratio of 9.22, a PEG ratio of 4.76 and a beta of -0.05. TCG BDC has a twelve month low of $15.27 and a twelve month high of $20.30. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.76.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 17th. Stockholders of record on Friday, December 28th will be given a $0.37 dividend. The ex-dividend date of this dividend is Thursday, December 27th. This represents a $1.48 annualized dividend and a dividend yield of 9.23%. TCG BDC’s dividend payout ratio is presently 85.06%.
Several research analysts have weighed in on the stock. ValuEngine upgraded shares of TCG BDC from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Zacks Investment Research upgraded shares of TCG BDC from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Wednesday, October 24th. Wells Fargo & Co lowered their target price on shares of TCG BDC from $17.75 to $15.00 and set a “market perform” rating on the stock in a research report on Thursday, October 4th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $19.00 target price on shares of TCG BDC in a research report on Thursday, August 9th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $17.75.
TCG BDC Company Profile
TCG BDC, Inc is a non-diversified closed-end investment company. The fund operates as a business development company. The company provides debt investments in the U.S. middle market companies. It also invests in first lien and second lien senior secured loans; middle market junior loans, such as corporate mezzanine loans, equity co-investments, syndicated first lien and second lien senior secured loans, high-yield bonds, structured finance obligations, and other opportunistic investments.
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