BlackRock TCP Capital (TCPC) Set to Announce Quarterly Earnings on Wednesday

BlackRock TCP Capital (NASDAQ:TCPC) will release its earnings data before the market opens on Wednesday, November 6th. Analysts expect BlackRock TCP Capital to post earnings of $0.40 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The company 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 quarter last year, the business earned $0.48 earnings per share. On average, analysts expect BlackRock TCP Capital to post $2 EPS for the current fiscal year and $1 EPS for the next fiscal year.

BlackRock TCP Capital Stock Performance

Shares of NASDAQ TCPC opened at $8.20 on Wednesday. BlackRock TCP Capital has a 12-month low of $8.02 and a 12-month high of $12.43. The company has a market cap of $701.84 million, a PE ratio of -15.47 and a beta of 1.47. The stock has a 50 day simple moving average of $8.57 and a 200-day simple moving average of $9.83. The company has a current ratio of 44.47, a quick ratio of 44.47 and a debt-to-equity ratio of 1.51.

BlackRock TCP Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.34 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.36 annualized dividend and a dividend yield of 16.59%. BlackRock TCP Capital’s payout ratio is -256.60%.

Wall Street Analyst Weigh In

Several equities analysts have commented on TCPC shares. Wells Fargo & Company lowered their target price on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research note on Tuesday. LADENBURG THALM/SH SH cut BlackRock TCP Capital from a “buy” rating to a “neutral” rating in a report on Thursday, August 8th. Keefe, Bruyette & Woods cut their target price on BlackRock TCP Capital from $10.50 to $9.00 and set a “market perform” rating for the company in a research report on Thursday, August 8th. Finally, StockNews.com cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, BlackRock TCP Capital currently has an average rating of “Hold” and a consensus price target of $8.83.

Insider Buying and Selling

In other news, CEO Rajneesh Vig acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average price of $9.09 per share, with a total value of $227,250.00. Following the purchase, the chief executive officer now owns 130,930 shares of the company’s stock, valued at approximately $1,190,153.70. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Rajneesh Vig purchased 25,000 shares of BlackRock TCP Capital stock in a transaction dated Thursday, August 29th. The stock was acquired at an average cost of $9.09 per share, with a total value of $227,250.00. Following the completion of the transaction, the chief executive officer now directly owns 130,930 shares of the company’s stock, valued at $1,190,153.70. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Philip M. Tseng acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $9.10 per share, for a total transaction of $91,000.00. Following the completion of the transaction, the director now directly owns 27,481 shares of the company’s stock, valued at $250,077.10. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 42,000 shares of company stock worth $381,875. Corporate insiders own 0.16% of the company’s stock.

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.