BlackRock TCP Capital Corp. (NASDAQ:TCPC) Expected to Announce Quarterly Sales of $41.62 Million

Analysts expect BlackRock TCP Capital Corp. (NASDAQ:TCPCGet Rating) to announce sales of $41.62 million for the current quarter, according to Zacks. Two analysts have provided estimates for BlackRock TCP Capital’s earnings, with estimates ranging from $40.45 million to $42.79 million. BlackRock TCP Capital reported sales of $41.65 million in the same quarter last year, which indicates a negative year-over-year growth rate of 0.1%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that BlackRock TCP Capital will report full-year sales of $170.83 million for the current fiscal year, with estimates ranging from $164.34 million to $177.32 million. For the next financial year, analysts anticipate that the company will report sales of $186.85 million, with estimates ranging from $166.98 million to $206.71 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow BlackRock TCP Capital.

BlackRock TCP Capital (NASDAQ:TCPCGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The investment management company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $42.15 million during the quarter, compared to analysts’ expectations of $40.55 million. BlackRock TCP Capital had a return on equity of 8.98% and a net margin of 66.68%. During the same quarter last year, the business posted $0.32 earnings per share.

A number of brokerages have issued reports on TCPC. Zacks Investment Research raised BlackRock TCP Capital from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Saturday, May 7th. StockNews.com began coverage on BlackRock TCP Capital in a report on Thursday, March 31st. They issued a “hold” rating for the company.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in shares of BlackRock TCP Capital by 52.6% in the 1st quarter. Van ECK Associates Corp now owns 1,431,954 shares of the investment management company’s stock worth $20,477,000 after buying an additional 493,479 shares during the last quarter. Cliffwater LLC boosted its position in BlackRock TCP Capital by 6.8% during the first quarter. Cliffwater LLC now owns 1,151,344 shares of the investment management company’s stock valued at $16,464,000 after buying an additional 73,460 shares during the period. Invesco Ltd. raised its stake in shares of 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 valued at $14,137,000 after acquiring an additional 7,572 shares during the last quarter. Advisors Capital Management LLC raised its stake in BlackRock TCP Capital by 1.9% in the first quarter. Advisors Capital Management LLC now owns 519,761 shares of the investment management company’s stock worth $7,433,000 after buying an additional 9,721 shares in the last quarter. Finally, Confluence Investment Management LLC increased its stake in shares of 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 valued at $6,032,000 after purchasing an additional 1,571 shares in the last quarter. 24.89% of the stock is currently owned by institutional investors.

NASDAQ TCPC opened at $13.68 on Friday. The firm has a market capitalization of $790.25 million, a P/E ratio of 7.13 and a beta of 1.50. BlackRock TCP Capital has a 1-year low of $12.46 and a 1-year high of $15.05. The company has a debt-to-equity ratio of 1.25, a current ratio of 23.74 and a quick ratio of 23.74. The business’s 50-day simple moving average is $13.82 and its 200-day simple moving average is $13.71.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, June 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.77%. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently 62.50%.

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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