TCG BDC, Inc. (CGBD) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of TCG BDC, Inc. (NASDAQ:CGBD) from a sell rating to a hold rating in a report issued on Monday.
According to Zacks, “TCG BDC, Inc. is an externally managed specialty finance company. It focused on providing flexible financing solutions to middle market companies primarily located in the United States. TCG BDC, Inc. is based in New York, United States. “
Separately, Keefe, Bruyette & Woods restated a buy rating and set a $20.00 price objective on shares of TCG BDC in a research note on Friday, October 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. TCG BDC has an average rating of Buy and a consensus price target of $19.50.
TCG BDC (CGBD) traded up $0.24 during midday trading on Monday, reaching $18.54. 36,500 shares of the company traded hands, compared to its average volume of 104,101. TCG BDC has a twelve month low of $17.61 and a twelve month high of $19.25. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.89 and a quick ratio of 0.89.
TCG BDC (NASDAQ:CGBD) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. TCG BDC had a net margin of 50.18% and a return on equity of 8.82%. The business had revenue of $42.65 million during the quarter, compared to the consensus estimate of $43.50 million. sell-side analysts expect that TCG BDC will post 1.7 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 7.98%. The ex-dividend date is Thursday, December 28th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Asset Management Company LTD bought a new stake in shares of TCG BDC during the 2nd quarter worth $1,987,000. Ares Management LLC bought a new stake in shares of TCG BDC during the 2nd quarter worth $8,554,000. Muzinich & Co. Inc. bought a new stake in shares of TCG BDC during the 2nd quarter worth $14,408,000. Ameriprise Financial Inc. bought a new stake in shares of TCG BDC during the 2nd quarter worth $6,258,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of TCG BDC during the 2nd quarter worth $571,000. Institutional investors own 7.90% of the company’s stock.
About TCG BDC
TCG BDC, Inc, formerly Carlyle GMS Finance, Inc, is a managed and non-diversified closed-end investment company. The Company is focused on lending to middle market companies. The Company’s investment objective is to generate current income and capital appreciation primarily through debt investments in the United States and middle market companies.
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