BlackRock TCP Capital Corp. (NASDAQ:TCPC) Given Consensus Rating of “Reduce” by Analysts

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has been given a consensus rating of “Reduce” by the six analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $9.00.

A number of research firms have recently commented on TCPC. StockNews.com downgraded BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Wells Fargo & Company cut shares of BlackRock TCP Capital from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $8.50 to $8.00 in a report on Monday, August 26th. Keefe, Bruyette & Woods lowered their target price on shares of BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a report on Thursday, August 8th. Finally, LADENBURG THALM/SH SH lowered shares of BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a research note on Thursday, August 8th.

Hedge Funds Weigh In On BlackRock TCP Capital

Several institutional investors have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC purchased a new stake in shares of BlackRock TCP Capital in the first quarter valued at about $26,000. Future Financial Wealth Managment LLC acquired a new position in BlackRock TCP Capital during the 1st quarter worth approximately $31,000. International Assets Investment Management LLC acquired a new position in BlackRock TCP Capital during the 2nd quarter worth approximately $60,000. Cape Investment Advisory Inc. purchased a new position in shares of BlackRock TCP Capital during the 4th quarter worth approximately $74,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of BlackRock TCP Capital in the 4th quarter valued at approximately $74,000.

BlackRock TCP Capital Stock Up 1.3 %

Shares of NASDAQ:TCPC opened at $9.17 on Monday. BlackRock TCP Capital has a fifty-two week low of $8.59 and a fifty-two week high of $12.59. The firm’s 50 day moving average price is $10.12 and its 200 day moving average price is $10.43. The company has a quick ratio of 44.47, a current ratio of 44.47 and a debt-to-equity ratio of 1.51. The stock has a market cap of $784.87 million, a price-to-earnings ratio of 26.20 and a beta of 1.49.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $71.53 million for the quarter, compared to analyst estimates of $70.39 million. BlackRock TCP Capital had a negative net margin of 20.11% and a positive return on equity of 14.42%. During the same period last year, the business earned $0.48 EPS. As a group, equities research analysts predict that BlackRock TCP Capital will post 1.68 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 14.83%. The ex-dividend date is Monday, September 16th. BlackRock TCP Capital’s payout ratio is currently 388.57%.

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.