THL Credit, Inc. is an externally managed, non-diversified closed-end management investment company. The Company's investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of lower middle market companies. The Company is a direct lender to lower middle-market companies and invests primarily in directly originated first lien senior secured loans, including unitranche investments. In certain instances, it also makes second lien secured loans and subordinated, or mezzanine, debt investments, which may include an associated equity component, such as warrants, preferred stock or similar securities, and direct equity investments. Its first lien senior secured loans may be structured as traditional first lien senior secured loans or as unitranche loans. The Company's investment activities are managed by THL Credit Advisors LLC.
Industry, Sector and Symbol
Industry Investors, not elsewhere classified
Sub-IndustryAsset Management & Custody Banks
SectorFinance
SymbolNASDAQ:TCRD
CUSIP87243810
Phone800-450-4424
Debt
Debt-to-Equity Ratio0.49
Current Ratio0.21
Quick Ratio0.21
Price-To-Earnings
Trailing P/E Ratio6.50
Forward P/E Ratio7.22
P/E Growth7.22
Sales & Book Value
Annual Sales$78.77 million
Price / Sales3.26
Cash Flow$1.1574 per share
Price / Cash6.80
Book Value$10.53 per share
Price / Book0.75
Profitability
EPS (Most Recent Fiscal Year)$1.21
Net Income$-7,900,000.00
Net Margins-9.01%
Return on Equity10.84%
Return on Assets5.92%
Miscellaneous
EmployeesN/A
Outstanding Shares32,670,000
THL Credit (NASDAQ:TCRD) Frequently Asked Questions
What is THL Credit's stock symbol?
THL Credit trades on the NASDAQ under the ticker symbol "TCRD."
How often does THL Credit pay dividends? What is the dividend yield for THL Credit?
THL Credit declared a quarterly dividend on Thursday, May 3rd. Stockholders of record on Friday, June 15th will be paid a dividend of $0.27 per share on Friday, June 29th. This represents a $1.08 annualized dividend and a dividend yield of 13.72%. The ex-dividend date of this dividend is Thursday, June 14th. View THL Credit's Dividend History.
How will THL Credit's stock buyback program work?
THL Credit declared that its board has authorized a stock buyback plan on Thursday, April 6th 2017, which allows the company to buyback $20,000,000.00 in shares, according to EventVestor. This buyback authorization allows the company to purchase up to 5.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its shares are undervalued.
How were THL Credit's earnings last quarter?
THL Credit, Inc. (NASDAQ:TCRD) announced its quarterly earnings data on Wednesday, May, 2nd. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $0.02. The investment management company had revenue of $16.69 million for the quarter, compared to analyst estimates of $18.30 million. THL Credit had a positive return on equity of 10.84% and a negative net margin of 9.01%. View THL Credit's Earnings History.
When is THL Credit's next earnings date?
What price target have analysts set for TCRD?
5 Wall Street analysts have issued 1-year price objectives for THL Credit's shares. Their forecasts range from $9.00 to $11.50. On average, they expect THL Credit's stock price to reach $10.00 in the next year. View Analyst Ratings for THL Credit.
What are Wall Street analysts saying about THL Credit stock?
Here are some recent quotes from research analysts about THL Credit stock:
- 1. According to Zacks Investment Research, "THL Credit Inc. is a newly-organized, externally-managed, non-diversified closed-end management investment company that has filed an election to be treated as a business development company. The Company's investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies. The Company invests primarily in private subordinated debt, or mezzanine debt, in middle market companies that require capital for growth and acquisitions. Such investments in many cases include an associated equity component such as warrants, preferred stock or other similar securities. The Company's investment activities are managed by its investment adviser, THL Credit Advisors LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended. " (6/14/2018)
- 2. National Securities analysts commented, "• TCRD posted NII/share of $0.27 versus our estimate of $0.31 and consensus estimates of $0.29. While the company did not earn an incentive fee (which would have unexpectedly cut into earnings) the income from Logan fell short.
• We expect more capital will be prioritized to Logan and also still think that if asset quality is indeed cleaned up, which it might be given the significant mark-downs at troubled and restructured credits, that effective yields could remain respectable without any new credit issues creating a drag as well.
• However, we expect a resumption of the incentive fee in 1Q19 and anticipate a quarterly dividend cut to $0.23/share from $0.27/share currently. Lower yielding, non-sponsor investments to borrowers we believe will be more up-market will likely induce yield pressure that Logan can offset, but not overcome, in our opinion especially when factoring in the incentive fee resumption we expect.
• Charming Charlie was restructured and THL received first lien exit loans in as part of the new structure but put up a small amount of more of capital.
• NAV/share’s pace of decline moderated during the quarter as it only fell to $10.44 from $10.51 Q/Q, contrasted with $11.34 in 3Q17, courtesy of non-accruals at cost declining to 6.7% of the portfolio at amortized cost from 8.8% the quarter prior.
• The company will seek to monetize non-income producing equity investments and has a handful of companies with improving performance, but we are unsure of the timing and ultimate sales price of any of these.
• We are revising our 2018 NII/share estimate to $1.12 from $1.24 and our 2019 NII/share estimate to $1.05 from $1.00." (5/4/2018)
- 3. Maxim Group analysts commented, "While TCRD covered the dividend with core NII (even with a smaller investment portfolio), investment losses reduced EPS to below the dividend, so net asset value (NAV) was down 1.2%. Based on core NII of $0.28 covering the dividend in 3Q17, and on TCRD’s agreement to waive up to 25% of incentive fees in 2018 to the extent necessary to cover its $0.27 quarterly dividend, we are introducing 2018 dividend and EPS estimates of $1.08. Our price target equates to 1.0x NAV, which is inline with relevant peers." (11/10/2017)
Who are some of THL Credit's key competitors?
Some companies that are related to THL Credit include New Mountain Finance (NMFC), Pennantpark Floating Rate Capital (PFLT), PennantPark Investment (PNNT), Gladstone Investment (GAIN), Capital Southwest (CSWC), Arlington Asset Investment (AI), Safeguard Scientifics (SFE), Oaktree Strategic Income (OCSI), TRIPLEPOINT VEN/COM (TPVG), Stellus Capital Investment (SCM), OFS Capital (OFS), Capitala Finance (CPTA), Garrison Capital (GARS), Elron Electronic Industries (ELRNF) and CM Finance (CMFN).
Who are THL Credit's key executives?
THL Credit's management team includes the folowing people:
- Nancy Hawthorne, Chairman of the Board (Age 66)
- W. Hunter Stropp, Co-President (Age 44)
- Christopher J. Flynn, Chief Executive Officer (Age 42)
- Terrence W. Olson, Chief Financial Officer, Chief Operating Officer, Treasurer, Assistant Secretary (Age 47)
- Stephanie Pare Sullivan, General Counsel, Secretary, Chief Legal Officer (Age 42)
- Keith W. Hughes, Lead Independent Director (Age 70)
- Admiral Edmund P. Giambastiani Jr., Director
- Deborah H. McAneny, Director (Age 58)
- David K. Downes, Independent Director (Age 77)
- James D. Kern, Independent Director (Age 50)
Has THL Credit been receiving favorable news coverage?
News coverage about TCRD stock has been trending positive this week, Accern reports. The research group identifies negative and positive press coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. THL Credit earned a coverage optimism score of 0.36 on Accern's scale. They also gave media coverage about the investment management company an impact score of 45.50 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company's share price in the next several days.
Who are THL Credit's major shareholders?
THL Credit's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include Great West Life Assurance Co. Can (4.39%), LSV Asset Management (2.32%), Fiera Capital Corp (2.14%), UBS Group AG (1.91%), Millennium Management LLC (1.41%) and Freestone Capital Holdings LLC (0.96%). Company insiders that own THL Credit stock include Christopher J Flynn, James R Fellows, Sabrina Rusnak-Carlson, Sam W Tillinghast and Terrence W Olson. View Institutional Ownership Trends for THL Credit.
Which institutional investors are selling THL Credit stock?
TCRD stock was sold by a variety of institutional investors in the last quarter, including UBS Group AG, BB&T Securities LLC, Millennium Management LLC, Guggenheim Capital LLC, BlackRock Inc. and Van ECK Associates Corp. View Insider Buying and Selling for THL Credit.
Which institutional investors are buying THL Credit stock?
TCRD stock was acquired by a variety of institutional investors in the last quarter, including Fiera Capital Corp, Athena Capital Advisors LLC, LSV Asset Management, Fort Washington Investment Advisors Inc. OH, Freestone Capital Holdings LLC, Legal & General Group Plc, Citigroup Inc. and Dynamic Technology Lab Private Ltd. Company insiders that have bought THL Credit stock in the last two years include Christopher J Flynn, James R Fellows, Sabrina Rusnak-Carlson, Sam W Tillinghast and Terrence W Olson. View Insider Buying and Selling for THL Credit.
How do I buy shares of THL Credit?
Shares of TCRD 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 THL Credit's stock price today?
One share of TCRD stock can currently be purchased for approximately $7.87.
How big of a company is THL Credit?
THL Credit has a market capitalization of $257.47 million and generates $78.77 million in revenue each year. The investment management company earns $-7,900,000.00 in net income (profit) each year or $1.21 on an earnings per share basis.
How can I contact THL Credit?
THL Credit's mailing address is 100 FEDERAL STREET 31ST FLOOR, BOSTON MA, 02110. The investment management company can be reached via phone at 800-450-4424 or via email at [email protected]
MarketBeat Community Rating for THL Credit (TCRD)
MarketBeat's community ratings are surveys of what our community members think about THL Credit and other stocks. Vote "Outperform" if you believe TCRD will outperform the S&P 500 over the long term. Vote "Underperform" if you believe TCRD will underperform the S&P 500 over the long term. You may vote once every thirty days.
