Analysts expect BlackRock TCP Capital Corp. (NASDAQ:TCPC – Get a rating) to announce sales of $41.62 million for the current quarter, according to Zacks. Two analysts provided earnings estimates for BlackRock TCP Capital, with estimates ranging from $40.45 million to $42.79 million. BlackRock TCP Capital reported sales of $41.65 million in the same quarter last year, indicating a negative growth rate of 0.1% year-over-year. The company is due to release its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect BlackRock TCP Capital to report annual revenue of $170.83 million for the current fiscal year, with estimates ranging from $164.34 million to $177.32 million. millions of dollars. For the next fiscal year, analysts expect the company to record sales of $186.85 million, with estimates ranging from $166.98 million to $206.71 million. Zacks Investment Research sales averages are an average average based on a survey of research companies that track BlackRock TCP Capital.
BlackRock TCP Capital (NASDAQ: TCPC – Get a rating) last announced its quarterly results on Wednesday, May 4. The investment management firm reported earnings per share of $0.34 for the quarter, beating consensus analyst estimates of $0.32 by $0.02. The company posted revenue of $42.15 million in the quarter, compared to $40.55 million expected by analysts. BlackRock TCP Capital had a return on equity of 8.98% and a net margin of 66.68%. In the same quarter last year, the company posted earnings per share of $0.32.
A number of brokerages have published reports on TCPC. Zacks Investment Research upgraded BlackRock TCP Capital from a “hold” rating to a “buy” rating and set a target price of $15.00 on the stock in a research report on Saturday, May 7. StockNews.com began covering BlackRock TCP Capital in a report on Thursday, March 31. They issued a “hold” rating for the company.
Several hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Van ECK Associates Corp increased its equity stake in BlackRock TCP Capital by 52.6% in Q1. Van ECK Associates Corp now owns 1,431,954 shares of the investment management firm worth $20,477,000 after buying an additional 493,479 shares in the last quarter. Cliffwater LLC increased its position in BlackRock TCP Capital by 6.8% during the first quarter. Cliffwater LLC now owns 1,151,344 shares of the investment management company valued at $16,464,000 after purchasing an additional 73,460 shares during the period. Invesco Ltd. increased its stake in shares of BlackRock TCP Capital by 0.7% during the fourth quarter. Invesco Ltd. now owns 1,046,404 shares of the investment management company valued at $14,137,000 after acquiring an additional 7,572 shares in the last quarter. Advisors Capital Management LLC increased its stake in BlackRock TCP Capital by 1.9% in the first quarter. Advisors Capital Management LLC now owns 519,761 shares of the investment management company worth $7,433,000 after buying an additional 9,721 shares last quarter. Finally, Confluence Investment Management LLC increased its stake in shares of BlackRock TCP Capital by 0.4% during the first quarter. Confluence Investment Management LLC now owns 421,767 shares of the investment management company valued at $6,032,000 after purchasing an additional 1,571 shares in the last quarter. 24.89% of the shares are currently held by institutional investors.
The NASDAQ TCPC opened at $13.68 on Friday. The company has a market capitalization of $790.25 million, a P/E ratio of 7.13 and a beta of 1.50. BlackRock TCP Capital has a 1-year low of $12.46 and a 1-year high of $15.05. The company has a debt ratio of 1.25, a current ratio of 23.74 and a quick ratio of 23.74. The company’s 50-day simple moving average is $13.82 and its 200-day simple moving average is $13.71.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30. Shareholders of record on Thursday, June 16 will receive a dividend of $0.30 per share. The ex-dividend date is Wednesday, June 15. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 8.77%. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently 62.50%.
About BlackRock TCP Capital (Get a rating)
BlackRock TCP Capital Corp. is a business development company specializing in direct middle market equity and debt investments, debt securities, senior secured loans, junior loans, insider loans, mezzanine securities, senior debt, bonds and secondary market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, clothing, textile mills, restaurants, retail, energy, oil extraction and gas, patent owners and lessors, state and federal credit agencies, insurance, hospitals and health centers, biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific consulting and related services , air freight charter, information technology consulting, application hosting services, software layout and design, computer aided design, communication equipment, electronic manufacturing equipment, computer components, chemicals.
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