THL Credit Inc. (NASDAQ:TCRD) Receives Average Recommendation of “Hold” from Brokerages
THL Credit Inc. (NASDAQ:TCRD) has received a consensus rating of “Hold” from the twelve ratings firms that are currently covering the stock. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $11.80.
A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of THL Credit from a “hold” rating to a “sell” rating in a research report on Tuesday, August 9th. Deutsche Bank AG dropped their target price on shares of THL Credit from $12.25 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, August 11th. Janney Montgomery Scott assumed coverage on shares of THL Credit in a research report on Friday, June 17th. They set a “neutral” rating and a $12.00 target price on the stock. TheStreet upgraded shares of THL Credit from a “hold” rating to a “buy” rating in a research report on Monday, July 11th. Finally, Jefferies Group reiterated a “hold” rating on shares of THL Credit in a research report on Friday, August 12th.
Hedge funds have recently bought and sold shares of the company. Raymond James & Associates raised its stake in THL Credit by 13.1% in the second quarter. Raymond James & Associates now owns 13,650 shares of the investment management company’s stock valued at $152,000 after buying an additional 1,585 shares during the last quarter. National Planning Corp raised its stake in THL Credit by 12.3% in the first quarter. National Planning Corp now owns 16,000 shares of the investment management company’s stock valued at $169,000 after buying an additional 1,750 shares during the last quarter. WFG Advisors LP raised its stake in THL Credit by 1.6% in the second quarter. WFG Advisors LP now owns 16,662 shares of the investment management company’s stock valued at $185,000 after buying an additional 263 shares during the last quarter. Ironwood Investment Counsel LLC purchased a new stake in THL Credit during the second quarter valued at about $221,000. Finally, Sigma Planning Corp raised its stake in THL Credit by 115.7% in the second quarter. Sigma Planning Corp now owns 24,737 shares of the investment management company’s stock valued at $275,000 after buying an additional 13,271 shares during the last quarter. Hedge funds and other institutional investors own 42.17% of the company’s stock.
Shares of THL Credit (NASDAQ:TCRD) opened at 9.50 on Wednesday. The firm has a 50-day moving average of $9.84 and a 200-day moving average of $10.68. THL Credit has a 52 week low of $8.58 and a 52 week high of $12.22.
THL Credit (NASDAQ:TCRD) last issued its quarterly earnings results on Thursday, August 4th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The firm had revenue of $20.50 million for the quarter, compared to the consensus estimate of $23.06 million. THL Credit had a negative net margin of 2.30% and a positive return on equity of 11.80%. The company’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 EPS. On average, equities research analysts expect that THL Credit will post $1.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were paid a $0.34 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.36 annualized dividend and a dividend yield of 14.32%. THL Credit’s payout ratio is -2,266.29%.
THL Credit Company Profile
THL Credit, Inc is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies.
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