Triangle Capital Corporation (NYSE:TCAP) Cut to Neutral at Hilliard Lyons
Hilliard Lyons cut shares of Triangle Capital Corporation (NYSE:TCAP) from a buy rating to a neutral rating in a research note published on Monday, MarketBeat reports.
A number of other analysts have also recently commented on the stock. ValuEngine cut shares of Triangle Capital Corporation from a buy rating to a hold rating in a research note on Friday, June 30th. Aegis began coverage on shares of Triangle Capital Corporation in a research note on Monday, June 26th. They set a buy rating for the company. Wunderlich began coverage on shares of Triangle Capital Corporation in a research note on Wednesday, May 17th. They set a buy rating and a $23.00 price objective for the company. Jefferies Group LLC restated a buy rating and set a $23.00 price objective on shares of Triangle Capital Corporation in a research note on Monday, May 15th. Finally, Zacks Investment Research cut shares of Triangle Capital Corporation from a hold rating to a sell rating in a research note on Wednesday, April 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $20.17.
Triangle Capital Corporation (NYSE TCAP) traded down 1.38% on Monday, hitting $14.26. 256,591 shares of the stock traded hands. Triangle Capital Corporation has a 12 month low of $14.25 and a 12 month high of $20.35. The firm has a 50-day moving average price of $17.56 and a 200-day moving average price of $18.47. The company has a market capitalization of $679.93 million, a PE ratio of 19.01 and a beta of 0.90.
Triangle Capital Corporation (NYSE:TCAP) last released its earnings results on Wednesday, August 2nd. The credit services provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by $0.01. The company had revenue of $31.20 million during the quarter, compared to analyst estimates of $33.25 million. Triangle Capital Corporation had a return on equity of 10.51% and a net margin of 16.92%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.49 earnings per share. Analysts forecast that Triangle Capital Corporation will post $1.71 earnings per share for the current year.
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The firm 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. This represents a $1.80 annualized dividend and a yield of 12.45%. The ex-dividend date of this dividend is Friday, September 1st. Triangle Capital Corporation’s payout ratio is 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 that occurred on Friday, June 23rd. The shares were sold at an average price of $17.72, for a total transaction of $53,160.00. Following the completion of the sale, the insider now directly owns 75,716 shares in the company, valued at approximately $1,341,687.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Wealthsource Partners LLC boosted its stake in shares of Triangle Capital Corporation by 2.7% in the first quarter. Wealthsource Partners LLC now owns 16,415 shares of the credit services provider’s stock valued at $313,000 after buying an additional 425 shares during the last quarter. HL Financial Services LLC raised its position in Triangle Capital Corporation by 2.7% in the first quarter. HL Financial Services LLC now owns 11,350 shares of the credit services provider’s stock valued at $217,000 after buying an additional 300 shares during the period. Armor Investment Advisors LLC raised its position in Triangle Capital Corporation by 6.9% in the first quarter. Armor Investment Advisors LLC now owns 147,692 shares of the credit services provider’s stock valued at $2,819,000 after buying an additional 9,555 shares during the period. Yorktown Management & Research Co Inc purchased a new position in Triangle Capital Corporation during the first quarter valued at $5,345,000. Finally, Trust Co. of Vermont purchased a new position in Triangle Capital Corporation during the first quarter valued at $106,000. Institutional investors and hedge funds own 31.86% of the company’s stock.
Triangle Capital Corporation Company Profile
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.
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