Zacks: TCG BDC, Inc. (CGBD) Given $19.25 Consensus Price Target by Analysts
TCG BDC, Inc. (NASDAQ:CGBD) has been given a consensus broker rating score of 1.25 (Strong Buy) from the four brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a buy rating and three have given a strong buy rating to the company.
Analysts have set a 12-month consensus price target of $19.25 for the company, according to Zacks. Zacks has also given TCG BDC an industry rank of 180 out of 265 based on the ratings given to related companies.
Several brokerages have recently weighed in on CGBD. Keefe, Bruyette & Woods restated a “buy” rating and set a $20.00 price target on shares of TCG BDC in a report on Friday, October 6th. Zacks Investment Research downgraded TCG BDC from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th.
In related news, Director John G. Nestor purchased 10,000 shares of TCG BDC stock in a transaction dated Tuesday, December 5th. The stock was purchased at an average cost of $18.55 per share, for a total transaction of $185,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of the company. Muzinich & Co. Inc. bought a new position in shares of TCG BDC during the second quarter valued at $14,408,000. State of New Jersey Common Pension Fund D boosted its position in shares of TCG BDC by 18.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 650,000 shares of the company’s stock valued at $12,233,000 after buying an additional 100,000 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in shares of TCG BDC by 1.8% during the third quarter. Alyeska Investment Group L.P. now owns 519,375 shares of the company’s stock valued at $9,775,000 after buying an additional 9,275 shares during the last quarter. Ares Management LLC purchased a new stake in shares of TCG BDC during the second quarter valued at $8,554,000. Finally, Van ECK Associates Corp purchased a new stake in shares of TCG BDC during the third quarter valued at $8,410,000. Hedge funds and other institutional investors own 9.14% of the company’s stock.
TCG BDC (NASDAQ:CGBD) opened at $18.44 on Monday. 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 has a twelve month low of $17.61 and a twelve month high of $19.25.
TCG BDC (NASDAQ:CGBD) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. TCG BDC had a return on equity of 8.82% and a net margin of 50.18%. The business had revenue of $42.65 million during the quarter, compared to the consensus estimate of $43.50 million. analysts predict that TCG BDC will post 1.7 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.48 annualized dividend and a dividend yield of 8.03%.
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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