JMP Securities Lowers Triangle Capital Corporation (TCAP) to Market Perform
TCAP has been the subject of a number of other research reports. ValuEngine upgraded Triangle Capital Corporation from a hold rating to a buy rating in a research note on Tuesday, August 1st. Wunderlich began coverage on Triangle Capital Corporation in a research note on Wednesday, May 17th. They issued a buy rating and a $23.00 target price for the company. National Securities restated a buy rating and issued a $22.00 target price on shares of Triangle Capital Corporation in a research note on Monday, April 10th. Keefe, Bruyette & Woods lowered Triangle Capital Corporation from an outperform rating to a market perform rating and reduced their target price for the stock from $20.50 to $18.00 in a research note on Thursday. Finally, Jefferies Group LLC restated a buy rating and issued a $23.00 target price on shares of Triangle Capital Corporation in a research note on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $20.17.
Triangle Capital Corporation (NYSE TCAP) traded down 2.60% during mid-day trading on Thursday, reaching $14.25. The company had a trading volume of 982,794 shares. Triangle Capital Corporation has a 52 week low of $14.11 and a 52 week high of $20.35. The firm has a market capitalization of $679.45 million, a PE ratio of 19.00 and a beta of 0.90. The stock’s 50-day moving average price is $17.56 and its 200 day moving average price is $18.47.
Triangle Capital Corporation (NYSE:TCAP) last issued its earnings results on Wednesday, August 2nd. The credit services provider reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.01. The firm had revenue of $31.20 million during the quarter, compared to analysts’ expectations of $33.25 million. Triangle Capital Corporation had a return on equity of 10.51% and a net margin of 16.92%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.49 EPS. On average, equities research analysts predict that Triangle Capital Corporation will post $1.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 12.30%. Triangle Capital Corporation’s payout ratio is currently 346.16%.
In other Triangle Capital Corporation news, insider C. Robert Jr. Knox sold 3,000 shares of Triangle Capital Corporation stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $17.72, for a total transaction of $53,160.00. Following the completion of the transaction, the insider now owns 75,716 shares in the company, valued at approximately $1,341,687.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Muzinich & Co. Inc. raised its position in shares of Triangle Capital Corporation by 95.5% in the first quarter. Muzinich & Co. Inc. now owns 1,788,633 shares of the credit services provider’s stock worth $34,145,000 after buying an additional 873,912 shares during the last quarter. Yorktown Management & Research Co Inc purchased a new position in shares of Triangle Capital Corporation during the first quarter worth $5,345,000. UBS Group AG raised its position in shares of Triangle Capital Corporation by 47.7% in the first quarter. UBS Group AG now owns 831,395 shares of the credit services provider’s stock worth $15,872,000 after buying an additional 268,535 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Triangle Capital Corporation by 19.2% in the first quarter. Wells Fargo & Company MN now owns 1,378,214 shares of the credit services provider’s stock worth $26,310,000 after buying an additional 221,823 shares during the last quarter. Finally, Novare Capital Management LLC purchased a new position in shares of Triangle Capital Corporation during the second quarter worth $3,554,000. Institutional investors and hedge funds own 31.86% of the company’s stock.
About Triangle Capital Corporation
Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.
Receive News & Ratings for Triangle Capital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Triangle Capital Corporation and related companies with MarketBeat.com's FREE daily email newsletter.