Equities research analysts forecast that BlackRock TCP Capital Corp (NASDAQ:TCPC) will announce $47.83 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for BlackRock TCP Capital’s earnings. The lowest sales estimate is $44.65 million and the highest is $51.63 million. BlackRock TCP Capital reported sales of $44.22 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.2%. The business is expected to report its next earnings results on Wednesday, May 8th.
According to Zacks, analysts expect that BlackRock TCP Capital will report full-year sales of $195.96 million for the current financial year, with estimates ranging from $182.00 million to $212.33 million. For the next financial year, analysts forecast that the company will report sales of $194.12 million, with estimates ranging from $193.00 million to $195.24 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for BlackRock TCP Capital.
Several brokerages recently issued reports on TCPC. Zacks Investment Research upgraded BlackRock TCP Capital from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Tuesday, December 18th. BidaskClub raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $16.50.
In other BlackRock TCP Capital news, CEO Howard Levkowitz purchased 5,000 shares of the business’s stock in a transaction on Friday, December 21st. The shares were bought at an average cost of $12.88 per share, for a total transaction of $64,400.00. Following the completion of the purchase, the chief executive officer now directly owns 124,144 shares of the company’s stock, valued at $1,598,974.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Rajneesh Vig purchased 10,000 shares of the business’s stock in a transaction on Friday, December 21st. The shares were acquired at an average price of $12.92 per share, for a total transaction of $129,200.00. Following the completion of the purchase, the insider now directly owns 49,750 shares of the company’s stock, valued at $642,770. The disclosure for this purchase can be found here. Insiders acquired 19,000 shares of company stock worth $245,200 in the last ninety days. 11.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of TCPC. CFO4Life Group LLC acquired a new position in BlackRock TCP Capital in the fourth quarter valued at approximately $152,000. Joel Isaacson & Co. LLC purchased a new position in BlackRock TCP Capital in the fourth quarter valued at about $209,000. Wiley BROS. Aintree Capital LLC purchased a new position in BlackRock TCP Capital in the fourth quarter valued at about $209,000. Great West Life Assurance Co. Can grew its stake in BlackRock TCP Capital by 13.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 17,559 shares of the investment management company’s stock valued at $221,000 after purchasing an additional 2,066 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in BlackRock TCP Capital in the fourth quarter valued at about $240,000. Institutional investors own 45.16% of the company’s stock.
Shares of TCPC stock traded down $0.21 during trading on Monday, hitting $14.16. The company had a trading volume of 215,806 shares, compared to its average volume of 296,320. The company has a current ratio of 12.33, a quick ratio of 12.33 and a debt-to-equity ratio of 0.97. The stock has a market cap of $844.53 million, a P/E ratio of 8.91, a price-to-earnings-growth ratio of 2.93 and a beta of 0.80. BlackRock TCP Capital has a one year low of $12.52 and a one year high of $14.98.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a $0.36 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.44 dividend on an annualized basis and a yield of 10.17%. BlackRock TCP Capital’s payout ratio is currently 90.57%.
BlackRock TCP Capital Company Profile
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.
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