About Triangle Capital Corporation (NYSE:TCAP)
Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company's investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments. The Company invests primarily in subordinated debt securities secured by second lien security interests in portfolio company assets, coupled with equity interests. The Company also invests in senior debt securities secured by first lien security interests in portfolio company assets. The Company's portfolio includes its investments in various industry sectors, such as baby products; manufacturer and distributor for independent artists and authors; loan origination software solutions provider, and restaurant.
Industry, Sector and Symbol:
- Sector: Finance
- Industry: Closed End Funds
- Sub-Industry: Asset Management & Custody Banks
- Symbol: NYSE:TCAP
- CUSIP: 89584810
- Web: www.tcap.com
- Market Cap: $621.64 million
- Outstanding Shares: 47,745,000
- 50 Day Moving Avg: $13.73
- 200 Day Moving Avg: $16.34
- 52 Week Range: $12.84 - $20.35
Sales & Book Value:
- Trailing P/E Ratio: 26.88
- Foreward P/E Ratio: 7.48
- P/E Growth: 1.58
- Annual Revenue: $120.01 million
- Price / Sales: 5.18
- Book Value: $14.83 per share
- Price / Book: 0.88
- Annual Dividend: $1.80
- Dividend Yield: 14.3%
- EBITDA: $99.14 million
- Net Margins: 16.92%
- Return on Equity: 10.51%
- Return on Assets: 5.88%
- Debt-to-Equity Ratio: 0.75%
- Current Ratio: 18.42%
- Quick Ratio: 18.42%
- Average Volume: 439,385 shs.
- Beta: 0.92
- Short Ratio: 1.34
Frequently Asked Questions for Triangle Capital Corporation (NYSE:TCAP)
What is Triangle Capital Corporation's stock symbol?
Triangle Capital Corporation trades on the New York Stock Exchange (NYSE) under the ticker symbol "TCAP."
How often does Triangle Capital Corporation pay dividends? What is the dividend yield for Triangle Capital Corporation?
Triangle Capital Corporation announced a quarterly dividend on Thursday, August 3rd. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.45 per share on Wednesday, September 20th. This represents a $1.80 annualized dividend and a yield of 13.82%. The ex-dividend date of this dividend is Friday, September 1st. View Triangle Capital Corporation's Dividend History.
How were Triangle Capital Corporation's earnings last quarter?
Triangle Capital Corporation (NYSE:TCAP) announced its earnings results on Wednesday, August, 2nd. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by $0.01. The business had revenue of $31.20 million for the quarter, compared to analyst estimates of $33.25 million. Triangle Capital Corporation had a return on equity of 10.51% and a net margin of 16.92%. The business's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 EPS. View Triangle Capital Corporation's Earnings History.
When will Triangle Capital Corporation make its next earnings announcement?
Where is Triangle Capital Corporation's stock going? Where will Triangle Capital Corporation's stock price be in 2017?
10 brokers have issued 12-month price targets for Triangle Capital Corporation's stock. Their forecasts range from $14.00 to $23.00. On average, they expect Triangle Capital Corporation's stock price to reach $18.14 in the next year. View Analyst Ratings for Triangle Capital Corporation.
What are analysts saying about Triangle Capital Corporation stock?
Here are some recent quotes from research analysts about Triangle Capital Corporation stock:
- 1. According to Zacks Investment Research, "TRIANGLE CAPITAL CORPORATION is a specialty finance company organized to provide customized financing solutions to lower middle market companies located throughout the United States. Triangle's investment objective is to seek attractive returns by generating current income from debt investments and capital appreciation from equity related investments. Triangle's investment philosophy is to partner with business owners, management teams and financial sponsors to provide flexible financing solutions to fund growth, changes of control, or other corporate events. " (10/20/2017)
- 2. National Securities analysts commented, "• TCAP reported NII/share of $0.41 versus our estimate of $0.44 and the dividend of $0.45. Total non-accruals at cost (including PIK) increased to $94.1 million or 7.5% of the portfolio from $68.2 million or 5.7% of the portfolio Q/Q. The worrisome trend continues to get worse and the pattern of PIK non-accruals turning into full cash non-accruals has been maintained as well. We do not expect this to resolve itself any time soon and as a result we think the non-accruals will continue to weigh on all-in effective yields on the portfolio, causing TCAP to continue to under-earn the dividend and eventually force them to cut it to $0.39/share in 1Q18.
• NAV/share decreased by 3% Q/Q to $14.85 from $15.29, generating an annualized economic return of 0.1%. We expect this will not be the end of NAV declines for the year and model NAV/share to finish 2017 at $14.18 before we expect it to recover in 2018. Realized losses finished 2Q17 at $80.9 million from $54.7 million in 1Q17 and $42.6 million a year ago and we expect this to increase to $105.3 million in 1Q18.
• We are revising our 2017 NII/share estimate to $1.68 from $1.81 and our 2018 NII/share estimate to $1.77 from $1.96." (8/7/2017)
- 3. Jefferies Group LLC analysts commented, "TCAP reported 1Q17 NOI per share of $0.42 versus our $0.45. While NOI missed our estimate on abnormally low non-recurring fee income (which can be volatile QoQ) we believe the focus should be on what was yet another active quarter of investment activity and over $500M of existing liquidity. We have updated our estimates to account for this quarter’s origination and yield trends and continue to expect TCAP can support the dividend. Reiterate Buy. 1Q17 Results. TCAP reported NOI per share of $0.42 below our $0.45 forecast and consensus of $0.44. Total investment income of $30.1M was below our $32.1M forecast, driven by lower fee income during the quarter and greater than anticipated yield compression. Total expenses of $12.4M were in-line with our $12.4M forecast. Despite the NOI miss, we view the quarter positively given consistent credit and strong originations. As a note the company had ~$1.2M in lower non-recurring fee income this quarter ($1.8M in 1Q17 versus $3M in 4Q16) which we believe drove the majority of the miss. 2017 is positioning to be a strong year for originations, predicated by ample dry-powder and liquidity, which should support NOI. This quarter’s gross originations of $162M were particularly robust and we observe they were the highest since late 2014 as the company continues to deploy its ample amount of dry powder from its recent equity raise." (5/5/2017)
Are investors shorting Triangle Capital Corporation?
Triangle Capital Corporation saw a decline in short interest in the month of September. As of September 29th, there was short interest totalling 556,038 shares, a decline of 36.8% from the September 15th total of 880,058 shares. Based on an average daily volume of 296,808 shares, the short-interest ratio is presently 1.9 days. Approximately 1.2% of the shares of the company are short sold.
Who are some of Triangle Capital Corporation's key competitors?
Some companies that are related to Triangle Capital Corporation include Hercules Capital (HTGC), Ithaca Energy (IAE), Foresight Solar Fund Ltd (FSFL), TICC Capital Corp. (TICC), KCAP Financial (KCAP), GLI Finance Ltd (GLIF), Andalas Energy and Power PLC (ADL), Alcentra Capital Corp. (ABDC), American Capital Senior Floating (ACSF), Andalas Energy and Power PLC (CEB), Apollo Investment Corporation (AINV), Ares Capital Corporation (ARCC), BlackRock Capital Investment Corporation (BKCC), BlackRock Enhanced Global Dividend Trust (BOE), BlackRock LT Municipal Advantage Trust (BTA), Blackrock Taxable Municipal Bond Trust (BBN), Capitala Finance Corp. (CPTA) and Carador Income Fund PLC (CIFU).
Who are Triangle Capital Corporation's key executives?
Triangle Capital Corporation's management team includes the folowing people:
- E. Ashton Poole, Chairman of the Board, President, Chief Executive Officer
- Steven C. Lilly, Chief Financial Officer, Chief Compliance Officer, Secretary, Director
- Douglas A. Vaughn, Chief Administrative Officer, Senior Managing Director
- Jeffrey A. Dombcik, Senior Managing Director, Chief Credit Officer
- Cary B. Nordan, Senior Managing Director, Chief Origination Officer
- Garland S. Tucker III, Director
- W. McComb Dunwoody, Independent Director
- Mark M. Gambill, Independent Director
- Benjamin S. Goldstein, Independent Director
- Mark F. Mulhern, Independent Director
Who owns Triangle Capital Corporation stock?
Triangle Capital Corporation's stock is owned by a variety of of institutional and retail investors. Top institutional shareholders include Shell Asset Management Co. (0.16%). Company insiders that own Triangle Capital Corporation stock include Benjamin S Goldstein, Brent P W Burgess, C Robert Jr Knox, E Ashton Poole, Simon B Jr Rich and W Mccomb Dunwoody. View Institutional Ownership Trends for Triangle Capital Corporation.
Who bought Triangle Capital Corporation stock? Who is buying Triangle Capital Corporation stock?
Triangle Capital Corporation's stock was acquired by a variety of institutional investors in the last quarter, including Shell Asset Management Co.. Company insiders that have bought Triangle Capital Corporation stock in the last two years include Benjamin S Goldstein, Brent P W Burgess, E Ashton Poole and Simon B Jr Rich. View Insider Buying and Selling for Triangle Capital Corporation.
How do I buy Triangle Capital Corporation stock?
Shares of Triangle Capital Corporation 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 Triangle Capital Corporation's stock price today?
MarketBeat Community Rating for Triangle Capital Corporation (NYSE TCAP)MarketBeat's community ratings are surveys of what our community members think about Triangle Capital Corporation 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 Triangle Capital Corporation stock can currently be purchased for approximately $13.02.
Consensus Ratings for Triangle Capital Corporation (NYSE:TCAP) (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: ||1 Sell Rating, 3 Hold Ratings, 6 Buy Ratings|
|Consensus Rating:||Buy (Score: 2.50)|
|Consensus Price Target: ||$18.14 (39.35% upside)|Consensus Price Target History for Triangle Capital Corporation (NYSE:TCAP)
Analysts' Ratings History for Triangle Capital Corporation (NYSE:TCAP)
(Data available from 10/20/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|10/18/2017||Hilliard Lyons||Upgrade||Neutral -> Buy||$14.00||N/A|
|10/17/2017||Raymond James Financial, Inc.||Reiterated Rating||Market Perform -> Underperform||N/A|
|10/5/2017||Keefe, Bruyette & Woods||Set Price Target||Hold||$18.00||N/A|
|8/28/2017||Robert W. Baird||Upgrade||Neutral -> Outperform||$16.00||High|
|8/9/2017||Jefferies Group LLC||Reiterated Rating||Buy||$23.00 -> $18.00||Low|
|8/9/2017||JMP Securities||Downgrade||Outperform -> Market Perform||Medium|
|8/7/2017||National Securities||Downgrade||Buy -> Neutral||$22.00 -> $18.00||Medium|
|5/17/2017||Wunderlich||Initiated Coverage||Buy -> Buy||$23.00||Low|
|1/6/2017||Bank of America Corporation||Initiated Coverage||Buy||$20.00||N/A|
|5/5/2016||Janney Montgomery Scott||Upgrade||Neutral -> Buy||N/A|
Earnings History for Triangle Capital Corporation (NYSE:TCAP)Earnings History by Quarter for Triangle Capital Corporation (NYSE TCAP)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|8/2/2017||Q2 2017||$0.42||$0.41||$33.25 million||$31.20 million||View||Listen|
|2/22/2017||Q4 2016||$0.40||$0.42||$29.49 million||$31.20 million||View||N/A|
|11/2/2016||Q316||$0.45||$0.42||$29.12 million||$27.40 million||View||N/A|
|8/3/2016||Q2||$0.48||$0.49||$27.84 million||$28.42 million||View||N/A|
|5/4/2016||Q116||$0.40||$0.29||$30.73 million||$26.70 million||View||N/A|
|2/24/2016||Q4||$0.56||$0.58||$31.33 million||$31.84 million||View||Listen|
|11/4/2015||Q3||$0.51||$0.56||$28.94 million||$30.80 million||View||N/A|
|8/5/2015||Q215||$0.50||$0.49||$29.28 million||$27.80 million||View||N/A|
|5/6/2015||Q115||$0.51||$0.54||$28.43 million||$30.78 million||View||N/A|
|3/2/2015||Q414||$0.51||$0.55||$27.25 million||$30.66 million||View||N/A|
|11/5/2014||Q214||$0.54||$0.51||$26.60 million||$24.88 million||View||N/A|
|8/6/2014||Q114||$0.52||$0.53||$24.33 million||$24.94 million||View||N/A|
|5/7/2014||Q1||$0.50||$0.50||$24.16 million||$24.04 million||View||N/A|
|8/7/2013||Q2 2013||$0.57||$0.59||$24.89 million||$27.30 million||View||N/A|
|5/8/2013||Q1 2013||$0.57||$0.56||$25.92 million||View||N/A|
|3/6/2013||Q4 2012||$0.56||$0.57||$24.19 million||View||N/A|
Earnings Estimates for Triangle Capital Corporation (NYSE:TCAP)
Current Year EPS Consensus Estimate: $1.67 EPS
Next Year EPS Consensus Estimate: $1.74 EPS
Current Dividend Information for Triangle Capital Corporation (NYSE:TCAP)
|Most Recent Dividend:||9/20/2017|
|Dividend Growth:||-4.40% (3 Year Average)|
|Payout Ratio:||346.16% (Trailing 12 Months of Earnings) |
107.78% (Based on This Year's Estimates)
103.45% (Based on Next Year's Estimates)
Dividend History by Quarter for Triangle Capital Corporation (NYSE TCAP)
(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 Triangle Capital Corporation (NYSE:TCAP)
Insider Ownership Percentage: 4.10%Insider Trades by Quarter for Triangle Capital Corporation (NYSE:TCAP)
Institutional Ownership Percentage: 31.36%
(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||C. Robert Jr. Knox||Insider||Sell||3,000||$17.72||$53,160.00|| |
|4/3/2017||W Mccomb Dunwoody||Director||Sell||49,286||$18.86||$929,533.96|| |
|12/20/2016||C. Robert Jr. Knox||Insider||Sell||400||$18.50||$7,400.00|| |
|5/13/2016||Benjamin S Goldstein||Director||Buy||3,000||$18.35||$55,050.00|| |
|5/9/2016||Brent P W Burgess||CIO||Buy||6,000||$17.25||$103,500.00|| |
|5/9/2016||E. Ashton Poole||CEO||Buy||28,600||$17.78||$508,508.00|| |
|5/9/2016||Simon B Jr. Rich||Director||Buy||5,000||$17.30||$86,500.00|| |
|3/22/2016||C. Robert Jr. Knox||Insider||Sell||3,000||$19.91||$59,730.00|| |
|9/30/2015||Simon B Jr. Rich||Director||Buy||15,000||$16.17||$242,550.00|| |
|9/29/2015||Garland S Tucker III||CEO||Buy||1,500||$16.11||$24,165.00|| |
|9/29/2015||Sherwood Hubbard Jr. Smith||Director||Buy||6,000||$16.04||$96,240.00|| |
|9/11/2015||Garland S Tucker III||CEO||Buy||2,000||$18.29||$36,580.00|| |
|9/9/2015||Simon B Jr. Rich||Director||Buy||10,340||$18.69||$193,254.60|| |
|6/12/2015||Brent P W Burgess||CIO||Sell||7,500||$23.53||$176,475.00|| |
|12/4/2014||Sherwood Hubbard Jr. Smith||Director||Buy||5,000||$21.56||$107,800.00|| |
|11/12/2014||Garland S Tucker III||CEO||Buy||1,100||$22.53||$24,783.00|| |
|9/23/2013||Brent Burgess||CIO||Sell||35,695||$29.15||$1,040,509.25|| |
|8/28/2013||C Robert Knox, Jr.||Insider||Sell||5,000||$29.20||$146,000.00|| |
|6/27/2013||C Robert Knox Jr||Insider||Sell||3,000||$27.65||$82,950.00|| |
|12/27/2012||Benjamin S Goldstein||Director||Sell||2,701||$24.21||$65,391.21|| |
Headline Trends for Triangle Capital Corporation (NYSE:TCAP)
Latest Headlines for Triangle Capital Corporation (NYSE:TCAP)
Triangle Capital Corporation (TCAP) Chart for Friday, October, 20, 2017