BlackRock TCP Capital (NASDAQ:TCPC) Posts Quarterly Earnings Results, Meets Expectations

BlackRock TCP Capital (NASDAQ:TCPC - Get Free Report) released its quarterly earnings results on Wednesday. The investment management company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45, Zacks reports. The firm had revenue of $55.73 million during the quarter, compared to the consensus estimate of $50.99 million. BlackRock TCP Capital had a net margin of 18.38% and a return on equity of 14.59%. During the same quarter in the prior year, the firm earned $0.44 EPS.

BlackRock TCP Capital Trading Down 1.2 %

Shares of BlackRock TCP Capital stock traded down $0.13 during mid-day trading on Thursday, hitting $10.29. 569,362 shares of the stock were exchanged, compared to its average volume of 479,191. BlackRock TCP Capital has a twelve month low of $9.80 and a twelve month high of $13.00. The stock has a market capitalization of $594.45 million, a price-to-earnings ratio of 15.91 and a beta of 1.42. The company has a 50-day simple moving average of $10.34 and a 200 day simple moving average of $11.06. The company has a current ratio of 30.47, a quick ratio of 30.47 and a debt-to-equity ratio of 1.43.

BlackRock TCP Capital Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.34 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.36 annualized dividend and a dividend yield of 13.22%. BlackRock TCP Capital's dividend payout ratio is currently 206.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TCPC shares. JMP Securities restated a "market perform" rating on shares of BlackRock TCP Capital in a research report on Friday, March 1st. Keefe, Bruyette & Woods cut their price objective on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a "market perform" rating for the company in a research report on Friday, March 22nd. Oppenheimer cut their price objective on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a "market perform" rating for the company in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of BlackRock TCP Capital from $11.00 to $11.50 and gave the stock an "equal weight" rating in a research report on Monday, January 29th. Finally, Raymond James downgraded shares of BlackRock TCP Capital from an "outperform" rating to a "market perform" rating in a research report on Friday, March 1st. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $11.00.

About BlackRock TCP Capital

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, 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.