BlackRock TCP Capital (TCPC) Scheduled to Post Earnings on Wednesday

BlackRock TCP Capital (NASDAQ:TCPC) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.45 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Thursday, February 29th. The investment management company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.04). The business had revenue of $50.85 million for the quarter, compared to analysts’ expectations of $53.36 million. BlackRock TCP Capital had a net margin of 18.38% and a return on equity of 14.59%. On average, analysts expect BlackRock TCP Capital to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

BlackRock TCP Capital Stock Performance

Shares of TCPC stock opened at $10.03 on Wednesday. The firm has a market cap of $579.40 million, a price-to-earnings ratio of 15.20 and a beta of 1.43. The company’s 50 day moving average is $10.46 and its 200 day moving average is $11.09. The company has a quick ratio of 30.47, a current ratio of 30.47 and a debt-to-equity ratio of 1.43. BlackRock TCP Capital has a 52-week low of $9.61 and a 52-week high of $13.00.

BlackRock TCP Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 14th were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 13.56%. The ex-dividend date was Wednesday, March 13th. BlackRock TCP Capital’s payout ratio is 206.06%.

Analysts Set New Price Targets

TCPC has been the topic of several research reports. Oppenheimer reissued a “market perform” rating and set a $11.00 price objective (down from $13.00) on shares of BlackRock TCP Capital in a report on Wednesday, March 6th. JMP Securities reaffirmed a “market perform” rating on shares of BlackRock TCP Capital in a report on Friday, March 1st. Keefe, Bruyette & Woods cut their price target on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating on the stock in a report on Friday, March 22nd. Raymond James lowered shares of BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a report on Friday, March 1st. Finally, Wells Fargo & Company lifted their price target on shares of BlackRock TCP Capital from $11.00 to $11.50 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.25.

About BlackRock TCP Capital

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