About TCP Capital Corp. (NASDAQ:TCPC)
TCP Capital Corp. is an externally managed, closed-end, non-diversified management investment company. The Company's investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It invests in the debt of middle-market companies, as well as small businesses, including senior secured loans, junior loans, mezzanine debt and bonds. Its investments may include an equity component and may make equity investments directly. It intends to focus on privately negotiated investments in debt of middle-market companies. It may make investments of all kinds and at all levels of the capital structure, including in equity interests, such as preferred or common stock and warrants or options received in connection with its debt investments. As of December 31, 2016, its investment portfolio consisted of 90 portfolio companies. Tennenbaum Capital Partners, LLC is the investment manager and advisor of the Company.
Industry, Sector and Symbol:
- Sector: Finance
- Industry: Closed End Funds
- Sub-Industry: Asset Management & Custody Banks
- Symbol: NASDAQ:TCPC
- CUSIP: 87238Q10
- Web: www.tcpcapital.com
- 50 Day Moving Avg: $16.33
- 200 Day Moving Avg: $16.73
- 52 Week Range: $15.33 - $17.47
- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: 10.30
- P/E Growth: 2.07
- Annual Dividend: $1.44
- Dividend Yield: 8.8%
- Net Margins: 54.74%
- Return on Equity: 12.93%
- Return on Assets: 7.29%
- Debt-to-Equity Ratio: 0.66%
- Current Ratio: 1.64%
- Quick Ratio: 1.64%
- Average Volume: 156,958 shs.
- Beta: 0.76
Frequently Asked Questions for TCP Capital Corp. (NASDAQ:TCPC)
What is TCP Capital Corp.'s stock symbol?
TCP Capital Corp. trades on the NASDAQ under the ticker symbol "TCPC."
How often does TCP Capital Corp. pay dividends? What is the dividend yield for TCP Capital Corp.?
TCP Capital Corp. declared a quarterly dividend on Thursday, August 3rd. Investors of record on Friday, September 15th will be given a dividend of $0.36 per share on Friday, September 29th. This represents a $1.44 dividend on an annualized basis and a yield of 8.79%. The ex-dividend date of this dividend is Thursday, September 14th. View TCP Capital Corp.'s Dividend History.
How will TCP Capital Corp.'s stock buyback program work?
TCP Capital Corp. announced that its board has authorized a stock repurchase plan on Monday, April 10th 2017, which permits the company to repurchase $50,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its shares are undervalued.
How were TCP Capital Corp.'s earnings last quarter?
TCP Capital Corp. (NASDAQ:TCPC) announced its earnings results on Thursday, August, 3rd. The company reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.05. The company had revenue of $46.23 million for the quarter, compared to analyst estimates of $40.37 million. TCP Capital Corp. had a net margin of 54.74% and a return on equity of 12.93%. View TCP Capital Corp.'s Earnings History.
When will TCP Capital Corp. make its next earnings announcement?
Where is TCP Capital Corp.'s stock going? Where will TCP Capital Corp.'s stock price be in 2017?
6 equities research analysts have issued 1 year price targets for TCP Capital Corp.'s stock. Their forecasts range from $18.00 to $19.00. On average, they anticipate TCP Capital Corp.'s share price to reach $18.25 in the next year. View Analyst Ratings for TCP Capital Corp..
What are analysts saying about TCP Capital Corp. stock?
Here are some recent quotes from research analysts about TCP Capital Corp. stock:
- 1. National Securities analysts commented, "• We are upgrading TCPC to BUY from NEUTRAL and raising our price target to $19 from $17. To remind our readers, we had previously downgraded shares to NEUTRAL in November 2016 for valuation only. TCP has continued to outperform most peers in the sector with a more favorable fee structure, consistently strong economic returns, minimal credit issues, and steady portfolio growth. With comparable peers trading much richer and TCP continuing to have excellent operational performance, we think the gap between peers and TCP will narrow and think that TCPC shares have additional upside.
• NAV improved Q/Q to $15.04 from $14.92, largely as a result of the accretive equity issuance done at a 13% premium to 1Q17 NAV/share. The portfolio at fair value increased by 8% Q/Q to $1.45 billion with origination volume during the quarter a very robust $263.4 million. We think TCP saw good deal flow and opportunities as the company has always been a very disciplined credit investor.
• We are revising our 2017 NII/share estimate to $1.58 from $1.56 and are revising our 2018 NII/share estimate to $1.60 from $1.61." (8/7/2017)
- 2. According to Zacks Investment Research, "TCP Capital Corp. is an externally managed specialty finance company focused on middle-market lending. The Company's investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. TCP Capital Corp. is based in Santa Monica, CA. " (7/13/2017)
Who are some of TCP Capital Corp.'s key competitors?
Some companies that are related to TCP Capital Corp. include Apollo Investment Corp. (AINV), Tortoise Energy Infrastructure Corporation (TYG), TPG Specialty Lending (TSLX), Liberty All-Star Equity Fund (USA), Hercules Capital (HTGC), Eaton Vance Tax Managed Buy Write Opport (ETV), Solar Capital (SLRC), Ithaca Energy (IAE), Invesco California Value Municipal Income Trust (VCV), Triangle Capital Corporation (TCAP), PennantPark Investment Corporation (PNNT), PennantPark Floating Rate Capital (PFLT), Foresight Solar Fund Ltd (FSFL), MFS Charter Income Trust (MCR), TICC Capital Corp. (TICC), Medley Capital Corporation (MCC), WhiteHorse Finance (WHF) and THL Credit (TCRD).
Who are TCP Capital Corp.'s key executives?
TCP Capital Corp.'s management team includes the folowing people:
- Howard M. Levkowitz J.D., Chairman of the Board, Chief Executive Officer
- Rajneesh Vig, President, Chief Operating Officer, Director
- Paul L. Davis, Chief Financial Officer
- Elizabeth Greenwood, Chief Compliance Officer, Secretary
- Todd M. Jaquez-Fissori, Managing Director
- Kathleen A. Corbet, Independent Director
- Eric J. Draut, Independent Director
- Franklin R. Johnson, Independent Director
- M. Freddie Reiss, Independent Director
- Peter E. Schwab, Independent Director
How do I buy TCP Capital Corp. stock?
Shares of TCP Capital Corp. can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is TCP Capital Corp.'s stock price today?
MarketBeat Community Rating for TCP Capital Corp. (NASDAQ TCPC)MarketBeat's community ratings are surveys of what our community members think about TCP Capital Corp. and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
One share of TCP Capital Corp. stock can currently be purchased for approximately $16.38.
Consensus Ratings for TCP Capital Corp. (NASDAQ:TCPC) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||6 Buy Ratings|
|Consensus Rating:||Buy (Score: 3.00)|
|Consensus Price Target: ||$18.25 (11.42% upside)|Consensus Price Target History for TCP Capital Corp. (NASDAQ:TCPC)
Analysts' Ratings History for TCP Capital Corp. (NASDAQ:TCPC)
(Data available from 10/23/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|10/6/2017||Keefe, Bruyette & Woods||Set Price Target||Buy||$18.00||N/A|
|8/7/2017||National Bank Financial||Upgrade||Sector Perform -> Outperform||Low|
|8/7/2017||National Securities||Upgrade||Neutral -> Buy||$17.00 -> $19.00||High|
|5/11/2017||Deutsche Bank AG||Upgrade||Hold -> Buy||$18.00||Medium|
|1/20/2017||FBR & Co||Boost Price Target||$18.00||N/A|
|11/11/2016||JMP Securities||Reiterated Rating||Buy||N/A|
|9/22/2016||DA Davidson||Reiterated Rating||Buy||$18.00||N/A|
|8/17/2016||Citigroup Inc.||Boost Price Target||Neutral||$14.00 -> $15.00||N/A|
|3/1/2016||Wunderlich||Lower Price Target||Hold||$16.00 -> $15.00||N/A|
|3/1/2016||Oppenheimer Holdings, Inc.||Reiterated Rating||Outperform||$16.00||N/A|
|3/1/2016||Cantor Fitzgerald||Reiterated Rating||Buy||$16.00||N/A|
Earnings History for TCP Capital Corp. (NASDAQ:TCPC)Earnings History by Quarter for TCP Capital Corp. (NASDAQ TCPC)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|8/3/2017||Q2 2017||$0.38||$0.43||$40.37 million||$46.23 million||View||Listen|
|5/9/2017||Q1 2017||$0.38||$0.47||$38.75 million||$39.34 million||View||Listen|
|11/8/2016||Q316||$0.38||$0.39||$36.42 million||$38.47 million||View||Listen|
|8/9/2016||Q216||$0.39||$0.38||$35.22 million||$35.60 million||View||N/A|
|5/10/2016||Q116||$0.39||$0.38||$35.38 million||$34.59 million||View||Listen|
|2/29/2016||Q415||$0.40||$0.43||$36.23 million||$39.62 million||View||Listen|
|11/5/2015||Q315||$0.39||$0.40||$35.75 million||$35.50 million||View||Listen|
|8/6/2015||Q215||$0.40||$0.44||$34.59 million||$38.94 million||View||Listen|
|5/7/2015||Q115||$0.38||$0.47||$32.87 million||$32.82 million||View||N/A|
|3/10/2015||Q414||$0.39||$0.40||$30.47 million||$32.14 million||View||Listen|
|11/6/2014||Q214||$0.38||$0.38||$26.42 million||$27.19 million||View||Listen|
|8/7/2014||Q2||$0.38||$0.40||$23.19 million||$24.59 million||View||N/A|
|5/8/2014||Q114||$0.37||$0.39||$22.28 million||$22.67 million||View||N/A|
|8/8/2013||Q2 2013||$0.41||$0.38||$15.49 million||View||N/A|
|5/9/2013||Q1 2013||$0.39||$0.49||$14.67 million||View||N/A|
|3/7/2013||Q4 2012||$0.46||$0.51||$12.81 million||View||N/A|
Earnings Estimates for TCP Capital Corp. (NASDAQ:TCPC)
2017 EPS Consensus Estimate: $1.56
2018 EPS Consensus Estimate: $1.58
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for TCP Capital Corp. (NASDAQ:TCPC)
|Most Recent Dividend:||9/29/2017|
|Payout Ratio:||92.90% (Trailing 12 Months of Earnings) |
90.57% (Based on This Year's Estimates)
90.57% (Based on Next Year's Estimates)
Dividend History by Quarter for TCP Capital Corp. (NASDAQ TCPC)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for TCP Capital Corp. (NASDAQ:TCPC)
Insider Ownership Percentage: 0.56%Insider Trades by Quarter for TCP Capital Corp. (NASDAQ:TCPC)
Institutional Ownership Percentage: 53.33%
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|6/23/2017||Brian F Wruble||Director||Buy||10,000||$16.63||$166,300.00|| |
|4/20/2017||Kathleen A Corbet||Director||Buy||3,500||$16.54||$57,890.00|| |
|5/27/2016||Paul L Davis||CFO||Buy||500||$14.48||$7,240.00|| |
|5/20/2016||Howard Levkowitz||CEO||Buy||5,000||$14.54||$72,700.00|| |
|1/22/2016||Brian F Wruble||Director||Buy||3,000||$12.86||$38,580.00|| |
|1/22/2016||Howard Levkowitz||CEO||Buy||5,000||$12.87||$64,350.00|| |
|1/22/2016||Rajneesh Vig||COO||Buy||4,000||$12.96||$51,840.00|| |
|12/18/2015||Howard Levkowitz||CEO||Buy||3,000||$14.00||$42,000.00|| |
|12/18/2015||Peter E. Schwab||Director||Buy||3,500||$14.07||$49,245.00|| |
|12/11/2015||Eric John Draut||Director||Buy||1,000||$14.42||$14,420.00|| |
|11/16/2015||Howard Levkowitz||CEO||Buy||5,000||$15.25||$76,250.00|| |
|11/11/2015||Brian F Wruble||Director||Buy||6,000||$15.14||$90,840.00|| |
|9/28/2015||Paul L Davis||CFO||Buy||1,000||$14.24||$14,240.00|| |
|9/14/2015||Rajneesh Vig||COO||Buy||3,750||$14.90||$55,875.00|| |
|6/26/2015||Howard Levkowitz||CEO||Buy||5,000||$15.38||$76,900.00|| |
|10/15/2014||Elizabeth Greenwood||Insider||Buy||1,000||$15.21||$15,210.00|| |
|10/15/2014||Peter E Schwab||Director||Buy||5,000||$15.41||$77,050.00|| |
|10/15/2014||Rajneesh Vig||COO||Buy||3,000||$15.19||$45,570.00|| |
|10/10/2014||Mark Holdsworth||Insider||Buy||5,000||$15.81||$79,050.00|| |
|5/14/2014||Mark Holdsworth||Insider||Buy||10,000||$15.86||$158,600.00|| |
|5/13/2014||Todd Jaquez-Fissori||Director||Buy||1,200||$15.81||$18,972.00|| |
|5/12/2014||Howard Levkowitz||CEO||Buy||5,000||$15.90||$79,500.00|| |
|8/19/2013||Eric John Draut||Director||Buy||1,000||$15.05||$15,050.00|| |
|8/16/2013||Franklin Johnson||Director||Buy||3,280||$15.23||$49,954.40|| |
|8/13/2013||Howard Levkowitz||CEO||Buy||10,000||$15.28||$152,800.00|| |
|6/5/2013||Franklin Johnson||Director||Buy||3,193||$15.70||$50,130.10|| |
|12/17/2012||Howard Levkowitz||CEO||Buy||2,300||$14.72||$33,856.00|| |
|12/12/2012||Mark Holdsworth||Insider||Buy||10,000||$14.82||$148,200.00|| |
|11/28/2012||Rajneesh Vig||President||Buy||10,000||$14.99||$149,900.00|| |
Headline Trends for TCP Capital Corp. (NASDAQ:TCPC)
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TCP Capital Corp. (TCPC) Chart for Monday, October, 23, 2017