BlackRock TCP Capital (NASDAQ:TCPC)'s stock had its "buy" rating restated by research analysts at Oppenheimer in a report issued on Friday, AnalystRatings.com reports. They currently have a $14.00 price objective on the investment management company's stock. Oppenheimer's target price would indicate a potential upside of 12.00% from the company's current price.
Other analysts have also issued research reports about the company. Zacks Investment Research lowered BlackRock TCP Capital from a "buy" rating to a "hold" rating in a research report on Tuesday. Raymond James upgraded shares of BlackRock TCP Capital from a "market perform" rating to an "outperform" rating and set a $14.00 target price for the company in a research note on Friday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of "Buy" and a consensus price target of $12.75.
BlackRock TCP Capital stock opened at $12.50 on Friday. BlackRock TCP Capital has a twelve month low of $4.02 and a twelve month high of $13.97. The stock's fifty day simple moving average is $11.96 and its 200-day simple moving average is $10.89. The company has a current ratio of 5.73, a quick ratio of 5.73 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $722.09 million, a P/E ratio of 30.49 and a beta of 1.65.
BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings data on Wednesday, February 24th. The investment management company reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. BlackRock TCP Capital had a return on equity of 11.83% and a net margin of 12.56%. Sell-side analysts predict that BlackRock TCP Capital will post 1.42 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TCPC. NEXT Financial Group Inc acquired a new position in BlackRock TCP Capital in the third quarter valued at $42,000. Calton & Associates Inc. acquired a new position in BlackRock TCP Capital in the third quarter valued at $105,000. Mckinley Capital Management LLC Delaware boosted its stake in BlackRock TCP Capital by 0.6% in the third quarter. Mckinley Capital Management LLC Delaware now owns 199,077 shares of the investment management company's stock valued at $1,953,000 after acquiring an additional 1,216 shares in the last quarter. California Public Employees Retirement System boosted its stake in BlackRock TCP Capital by 5.0% in the third quarter. California Public Employees Retirement System now owns 134,600 shares of the investment management company's stock valued at $1,320,000 after acquiring an additional 6,400 shares in the last quarter. Finally, Aigen Investment Management LP boosted its stake in BlackRock TCP Capital by 27.5% in the third quarter. Aigen Investment Management LP now owns 22,146 shares of the investment management company's stock valued at $217,000 after acquiring an additional 4,783 shares in the last quarter. Institutional investors own 28.95% of the company's stock.
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 typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.
Read More: What are gap-down stocks?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
7 Marijuana Stocks Worth Speculating On
To say it’s been a rough two years for the cannabis industry is an understatement. Due to a combination of issues (including some self-inflicted wounds), the cannabis boom predicted in 2018 has not materialized. But that could be about to change.
If Joe Biden wins the presidential election, it will likely be part of a “Blue Wave” that will bring Democratic party control of both houses of Congress. And even if President Trump successfully wins a second term, it is still possible that Republicans could lose their hold on the Senate.
The bottom line is there is a range of outcomes that are possible. Most of those outcomes are favorable to the legalization of marijuana. And even if cannabis is not made legal on the federal level, it seems likely that the remaining states holding out will take steps to legalization. That’s because, like gambling, cannabis may create an economic lift that cash-strapped states may find too difficult to turn down.
One thing is certain. If you wait until the right time, you’ll have missed out on some eye-popping initial gains. But to get that reward in the future, you’ll need to assume some risk now. In this special presentation, we’ve identified seven cannabis stocks that you can consider when evaluating your opportunity in the cannabis sector.
View the "7 Marijuana Stocks Worth Speculating On ".