THL Credit Inc. (TCRD) Shares Gap Up to $9.98
Shares of THL Credit Inc. (NASDAQ:TCRD) gapped up before the market opened on Tuesday . The stock had previously closed at $9.97, but opened at $9.98. THL Credit shares last traded at $10.00, with a volume of 133,010 shares.
A number of analysts have weighed in on TCRD shares. Maxim Group cut their price objective on shares of THL Credit from $12.75 to $12.25 and set a “buy” rating on the stock in a report on Monday, May 9th. TheStreet raised shares of THL Credit from a “hold” rating to a “buy” rating in a report on Monday, July 11th. Deutsche Bank AG cut their target price on shares of THL Credit from $12.25 to $12.00 and set a “buy” rating on the stock in a report on Thursday, August 11th. Jefferies Group reaffirmed a “hold” rating on shares of THL Credit in a report on Friday, August 12th. Finally, JMP Securities cut shares of THL Credit from a “mkt outperform” rating to a “market perform” rating in a report on Thursday, June 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. THL Credit currently has a consensus rating of “Hold” and an average price target of $11.95.
The company’s 50-day moving average price is $11.18 and its 200 day moving average price is $10.64.
THL Credit (NASDAQ:TCRD) last released its quarterly earnings results on Thursday, August 4th. The investment management company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The company earned $20.50 million during the quarter, compared to analysts’ expectations of $23.06 million. During the same quarter in the prior year, the company earned $0.35 EPS. The firm’s revenue was down 13.9% compared to the same quarter last year. Equities research analysts anticipate that THL Credit Inc. will post $1.40 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 13.72%. The ex-dividend date is Tuesday, September 13th.
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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