Zacks: Analysts Anticipate THL Credit, Inc. (TCRD) Will Post Quarterly Sales of $19.65 Million
Equities research analysts expect THL Credit, Inc. (NASDAQ:TCRD) to report sales of $19.65 million for the current quarter, Zacks reports. Four analysts have made estimates for THL Credit’s earnings. The lowest sales estimate is $19.45 million and the highest is $19.82 million. THL Credit reported sales of $21.57 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.9%. The business is expected to issue its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that THL Credit will report full-year sales of $19.65 million for the current year, with estimates ranging from $78.82 million to $79.77 million. For the next fiscal year, analysts forecast that the company will report sales of $78.69 million per share, with estimates ranging from $75.00 million to $82.59 million. Zacks’ sales averages are an average based on a survey of analysts that follow THL Credit.
THL Credit (NASDAQ:TCRD) last announced its quarterly earnings results on Thursday, August 3rd. The investment management company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. THL Credit had a net margin of 29.81% and a return on equity of 10.22%. The firm had revenue of $20.28 million during the quarter, compared to analysts’ expectations of $20.35 million. During the same period in the prior year, the company earned $0.35 EPS. The firm’s revenue was down 1.0% on a year-over-year basis.
TCRD has been the topic of a number of recent research reports. Maxim Group restated a “buy” rating and set a $12.00 price target on shares of THL Credit in a report on Friday, May 5th. National Securities upgraded shares of THL Credit from a “neutral” rating to a “buy” rating and raised their price target for the company from $11.00 to $12.00 in a report on Monday, May 8th. Deutsche Bank AG cut their price target on shares of THL Credit from $10.75 to $10.50 and set a “buy” rating on the stock in a report on Monday, May 8th. Citigroup Inc. restated a “market perform” rating on shares of THL Credit in a report on Wednesday, May 10th. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of THL Credit in a report on Wednesday, May 10th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $11.10.
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 12 month low of $8.75 and a 12 month high of $10.60.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.08 dividend on an annualized basis and a yield of 11.16%. THL Credit’s payout ratio is presently 145.95%.
In other news, CEO Sam W. Tillinghast bought 5,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were acquired at an average cost of $10.01 per share, for a total transaction of $50,050.00. Following the purchase, the chief executive officer now owns 127,704 shares of the company’s stock, valued at approximately $1,278,317.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.79% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new position in THL Credit during the second quarter worth about $105,000. Oxford Asset Management purchased a new position in THL Credit during the first quarter worth about $110,000. Stifel Financial Corp purchased a new position in THL Credit during the first quarter worth about $130,000. Founders Financial Securities LLC purchased a new position in THL Credit during the first quarter worth about $135,000. Finally, CIBC World Markets Inc. purchased a new position in THL Credit during the second quarter worth about $150,000. Institutional investors and hedge funds own 48.65% of the company’s stock.
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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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