Oppenheimer Weighs in on BlackRock TCP Capital Corp.’s Q3 2022 Earnings (NASDAQ:TCPC)

BlackRock TCP Capital Corp. (NASDAQ:TCPC – Get Rating) – Stock analysts at Oppenheimer lowered their Q3 2022 earnings per share estimates for shares of BlackRock TCP Capital in a research note issued to investors on Wednesday, May 4th. Oppenheimer analyst M. Penn now forecasts that the investment management company will post earnings of $0.32 per share for the quarter, down from their prior forecast of $0.33. Oppenheimer also issued estimates for BlackRock TCP Capital’s Q4 2022 earnings at $0.32 EPS, Q3 2023 earnings at $0.34 EPS, Q4 2023 earnings at $0.34 EPS and FY2023 earnings at $1.34 EPS.

BlackRock TCP Capital (NASDAQ:TCPC – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The investment management company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. BlackRock TCP Capital had a net margin of 81.03% and a return on equity of 8.94%. During the same quarter in the previous year, the company earned $0.32 EPS.

Several other research firms also recently issued reports on TCPC. Zacks Investment Research raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Monday, April 25th. StockNews.com initiated coverage on shares of BlackRock TCP Capital in a report on Thursday, March 31st. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.88.

NASDAQ:TCPC opened at $13.75 on Friday. The firm has a market cap of $794.34 million, a price-to-earnings ratio of 7.16, a price-to-earnings-growth ratio of 0.87 and a beta of 1.50. BlackRock TCP Capital has a 1-year low of $12.71 and a 1-year high of $15.05. The firm’s fifty day moving average price is $13.99 and its 200 day moving average price is $13.81. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.45 and a quick ratio of 1.45.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 8.73%. The ex-dividend date is Wednesday, June 15th. BlackRock TCP Capital’s payout ratio is 62.50%.

Several institutional investors and hedge funds have recently modified their holdings of TCPC. Invesco Ltd. grew its holdings in BlackRock TCP Capital by 0.7% during the fourth quarter. Invesco Ltd. now owns 1,046,404 shares of the investment management company’s stock worth $14,137,000 after acquiring an additional 7,572 shares during the period. Van ECK Associates Corp grew its holdings in BlackRock TCP Capital by 7.8% during the fourth quarter. Van ECK Associates Corp now owns 938,475 shares of the investment management company’s stock worth $12,678,000 after acquiring an additional 67,718 shares during the period. Confluence Investment Management LLC grew its holdings in BlackRock TCP Capital by 0.4% during the first quarter. Confluence Investment Management LLC now owns 421,767 shares of the investment management company’s stock worth $6,032,000 after acquiring an additional 1,571 shares during the period. BlackRock Inc. grew its holdings in BlackRock TCP Capital by 15.1% during the fourth quarter. BlackRock Inc. now owns 408,804 shares of the investment management company’s stock worth $5,523,000 after acquiring an additional 53,635 shares during the period. Finally, Ares Management LLC grew its holdings in BlackRock TCP Capital by 59.9% during the fourth quarter. Ares Management LLC now owns 367,689 shares of the investment management company’s stock worth $4,967,000 after acquiring an additional 137,681 shares during the period. 24.89% of the stock is currently owned by institutional investors.

About BlackRock TCP Capital (Get Rating)

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

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