THL Credit, Inc. (TCRD) Receives Consensus Rating of “Hold” from Analysts
THL Credit, Inc. (NASDAQ:TCRD) has been given an average rating of “Hold” by the nine analysts that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $11.10.
Several brokerages have weighed in on TCRD. Keefe, Bruyette & Woods set a $11.00 target price on shares of THL Credit and gave the stock a “hold” rating in a research note on Saturday, May 13th. Zacks Investment Research raised shares of THL Credit from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 11th. Deutsche Bank AG lowered shares of THL Credit from a “buy” rating to a “hold” rating and set a $10.50 target price for the company. in a research note on Tuesday, August 8th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of THL Credit in a research note on Wednesday, May 10th. Finally, Citigroup Inc. reaffirmed a “market perform” rating on shares of THL Credit in a research note on Wednesday, May 10th.
Shares of THL Credit (TCRD) opened at 9.68 on Friday. The company’s 50-day moving average is $9.97 and its 200-day moving average is $10.01. THL Credit has a one year low of $8.75 and a one year high of $10.60.
THL Credit (NASDAQ:TCRD) last announced its earnings results on Thursday, August 3rd. The investment management company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The company had revenue of $20.28 million during the quarter, compared to analyst estimates of $20.35 million. THL Credit had a net margin of 11.06% and a return on equity of 1.34%. THL Credit’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 earnings per share. On average, analysts expect that THL Credit will post $1.14 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.08 annualized dividend and a dividend yield of 11.16%. THL Credit’s dividend payout ratio is presently 145.95%.
In other THL Credit news, CEO Sam W. Tillinghast purchased 5,000 shares of THL Credit stock in a transaction dated Tuesday, June 6th. The shares were acquired at an average price of $10.01 per share, with a total value of $50,050.00. Following the completion of the transaction, the chief executive officer now owns 127,704 shares of the company’s stock, valued at $1,278,317.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.79% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of TCRD. OxFORD Asset Management LLP boosted its stake in shares of THL Credit by 1,142.1% in the second quarter. OxFORD Asset Management LLP now owns 137,442 shares of the investment management company’s stock valued at $1,368,000 after buying an additional 126,377 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of THL Credit by 12.6% in the second quarter. Van ECK Associates Corp now owns 271,385 shares of the investment management company’s stock valued at $2,700,000 after buying an additional 30,421 shares in the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of THL Credit during the second quarter valued at about $1,032,000. CIBC World Markets Inc. acquired a new stake in shares of THL Credit during the second quarter valued at about $150,000. Finally, Private Advisor Group LLC boosted its stake in shares of THL Credit by 1.7% in the second quarter. Private Advisor Group LLC now owns 49,751 shares of the investment management company’s stock valued at $495,000 after buying an additional 850 shares in the last quarter. 48.65% of the stock is currently owned by institutional investors and hedge funds.
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 lower middle market companies.
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