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
Industry Closed End Funds
Sub-IndustryAsset Management & Custody Banks
Trailing P/E Ratio9.34
Forward P/E Ratio10.31
Sales & Book Value
Annual Sales$148.18 million
Price / Sales6.42
Cash Flow$1.30 per share
Price / Cash12.49
Book Value$14.92 per share
Price / Book1.09
Net Income$95.36 million
Return on Equity12.17%
Return on Assets6.82%
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 Tuesday, November 7th. Shareholders of record on Friday, December 15th will be given a dividend of $0.36 per share on Friday, December 29th. This represents a $1.44 dividend on an annualized basis and a yield of 8.89%. The ex-dividend date is Thursday, December 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 share buyback plan on Wednesday, November 8th 2017, which allows the company to buyback $50,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are usually 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) posted its quarterly earnings results on Tuesday, August, 9th. The investment management company reported $0.38 EPS for the quarter, missing the Zacks' consensus estimate of $0.39 by $0.01. The investment management company had revenue of $35.60 million for the quarter, compared to analysts' expectations of $35.22 million. TCP Capital Corp. had a net margin of 49.53% and a return on equity of 12.17%. View TCP Capital Corp.'s Earnings History.
When will TCP Capital Corp. make its next earnings announcement?
What guidance has TCP Capital Corp. issued on next quarter's earnings?
TCP Capital Corp. issued an update on its third quarter earnings guidance on Monday, October, 30th. The company provided earnings per share guidance of 0.37-0.39 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.38.
Where is TCP Capital Corp.'s stock going? Where will TCP Capital Corp.'s stock price be in 2017?
5 equities research analysts have issued 1 year target prices for TCP Capital Corp.'s stock. Their predictions range from $17.00 to $19.00. On average, they expect TCP Capital Corp.'s stock price to reach $18.00 in the next year. View Analyst Ratings for TCP Capital Corp..
What are Wall Street 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, "• For 3Q17, TCPC posted NII/share of $0.38, two cents above the dividend and a penny above our own estimate. While the earnings are certainly down Q/Q, we note that 2Q17 was a noisy quarter with a significant amount of prepayment-related income.
• NAV declined Q/Q to $14.92 from $15.04 as unrealized losses and realized losses both increased but were offset partially by NII exceeding the dividend. The company had two non-accruals on the quarter, both of which were marked at zero and thus any realized loss on these in the future would reverse prior unrealized depreciation.
• TCP originated $242.6 million of loans on the quarter, down slightly from the landmark 2Q17 number of $263.4 million. We believe that TCP is genuinely seeing good opportunities in its pipeline, as the company has had no qualms in the past about letting the portfolio shrink. We regard TCP as a credit investor, not asset gatherer, and as such we think that the strong portfolio growth will contribute positively to economic returns for shareholders.
• We are revising our 2017 NII/share estimate to $1.60 from $1.58 and are revising our 2018 NII/share estimate to $1.59 from $1.60." (11/9/2017)
- 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 AllianceBernsteinome Fund (ACG), Apollo Investment Corporation (AINV), Tortoise Energy Infrastructure Corporation (TYG), TPG Specialty Lending (TSLX), John Laing Infrastructure Fund Ld (JLIF), Liberty All-Star Equity Fund (USA), Hercules Capital (HTGC), Blackrock Taxable Municipal Bond Trust (BBN), Golub Capital BDC (GBDC), New Mountain Finance Corporation (NMFC), Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV), Solar Capital (SLRC), BlackRock Enhanced Global Dividend Trust (BOE), Invesco California Value Municipal Income Trust (VCV), Eaton Vance Floating-Rate Income Trust (EFT), PennantPark Investment Corporation (PNNT), BlackRock Capital Investment Corporation (BKCC) and Carador Income Fund PLC (CIFU).
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 (Age 50)
- Rajneesh Vig, President, Chief Operating Officer, Director (Age 46)
- Paul L. Davis, Chief Financial Officer (Age 43)
- Elizabeth Greenwood, Chief Compliance Officer, Secretary (Age 54)
- Todd M. Jaquez-Fissori, Managing Director (Age 47)
- Kathleen A. Corbet, Independent Director (Age 57)
- Eric J. Draut, Independent Director (Age 60)
- Franklin R. Johnson, Independent Director (Age 81)
- M. Freddie Reiss, Independent Director (Age 70)
- Peter E. Schwab, Independent Director (Age 73)
Who owns TCP Capital Corp. stock?
TCP Capital Corp.'s stock is owned by a number of of institutional and retail investors. Top institutional investors include Vaughan Nelson Investment Management L.P. (0.00%), Burgundy Asset Management Ltd. (5.13%), Advisors Asset Management Inc. (0.79%), Sumitomo Mitsui Asset Management Company LTD (0.00%), Van ECK Associates Corp (0.62%) and Neuberger Berman Group LLC (0.58%). Company insiders that own TCP Capital Corp. stock include Brian F Wruble, Eric John Draut, Howard Levkowitz, Kathleen A Corbet, Paul L Davis, Peter E Schwab and Rajneesh Vig. View Institutional Ownership Trends for TCP Capital Corp..
Who sold TCP Capital Corp. stock? Who is selling TCP Capital Corp. stock?
TCP Capital Corp.'s stock was sold by a variety of institutional investors in the last quarter, including Burgundy Asset Management Ltd., Van ECK Associates Corp, P.A.W. Capital Corp, GSA Capital Partners LLP, California Public Employees Retirement System, Raymond James Financial Services Advisors Inc., Jane Street Group LLC and Magnetar Financial LLC. View Insider Buying and Selling for TCP Capital Corp..
Who bought TCP Capital Corp. stock? Who is buying TCP Capital Corp. stock?
TCP Capital Corp.'s stock was purchased by a variety of institutional investors in the last quarter, including Sumitomo Mitsui Asset Management Company LTD, Vaughan Nelson Investment Management L.P., Macquarie Group Ltd., OxFORD Asset Management LLP, D.A. Davidson & CO., Advisors Asset Management Inc., Nine Chapters Capital Management LLC and Legal & General Group Plc. Company insiders that have bought TCP Capital Corp. stock in the last two years include Brian F Wruble, Eric John Draut, Howard Levkowitz, Kathleen A Corbet, Paul L Davis, Peter E Schwab and Rajneesh Vig. View Insider Buying and Selling for TCP Capital Corp..
How do I buy TCP Capital Corp. stock?
Shares of TCP Capital Corp. can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is TCP Capital Corp.'s stock price today?
One share of TCP Capital Corp. stock can currently be purchased for approximately $16.19.
How big of a company is TCP Capital Corp.?
TCP Capital Corp. has a market capitalization of $949.50 million and generates $148.18 million in revenue each year. The investment management company earns $95.36 million in net income (profit) each year or $1.41 on an earnings per share basis.
How can I contact TCP Capital Corp.?
TCP Capital Corp.'s mailing address is 2951 28th Street Suite 1000, Santa Monica CA, 90405. The investment management company can be reached via phone at 310-566-1000 or via email at [email protected]
MarketBeat Community Rating for TCP Capital Corp. (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.
Analysts' Consensus Rating for TCP Capital Corp. (NASDAQ:TCPC) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus analyst ratings for company stocks 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). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst 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.
|Today||30 Days Ago||90 Days Ago||180 Days Ago|
|Consensus Rating: ||Buy||Buy||Buy||Buy|
|Consensus Rating Score: ||2.64||2.60||2.62||2.70|
|Ratings Breakdown: ||1 Sell Rating(s)|
2 Hold Rating(s)
8 Buy Rating(s)
0 Strong Buy Rating(s)
|1 Sell Rating(s)|
2 Hold Rating(s)
7 Buy Rating(s)
0 Strong Buy Rating(s)
|1 Sell Rating(s)|
3 Hold Rating(s)
9 Buy Rating(s)
0 Strong Buy Rating(s)
|0 Sell Rating(s)|
3 Hold Rating(s)
7 Buy Rating(s)
0 Strong Buy Rating(s)
|Consensus Price Target: ||$17.50||$17.57||$17.00||$16.80|
|Price Target Upside: ||10.13% upside||5.28% upside||1.98% upside||0.00% downside|
Consensus Price Target History for TCP Capital Corp. (NASDAQ:TCPC)
Analysts' Ratings History for TCP Capital Corp. (NASDAQ:TCPC)
(Data available from 11/24/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|11/20/2017||Ladenburg Thalmann Financial Services||Initiated Coverage||Buy -> Buy||$17.00||N/A|
|11/9/2017||National Securities||Reiterated Rating||Buy||$19.00||N/A|
|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|
|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 and Estimates Chart 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|
|2/27/2018|| || || || || || || || |
|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: $1.57
(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)
|Payout Ratio:||102.13% (Trailing 12 Months of Earnings) |
91.72% (Based on This Year's Estimates)
91.14% (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%
Institutional Ownership Percentage: 52.79%
Insider Trades by Quarter for TCP Capital Corp. (NASDAQ TCPC)
(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|| |
Latest Headlines for TCP Capital Corp. (NASDAQ TCPC)
TCP Capital Corp. (NASDAQ TCPC) Chart for Friday, November, 24, 2017