TCG BDC Inc (CGBD) Receives $18.00 Average PT from Brokerages
TCG BDC Inc (NASDAQ:CGBD) has earned an average recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $18.00.
A number of brokerages have commented on CGBD. Wells Fargo & Co reduced their price target on shares of TCG BDC from $17.75 to $15.00 and set a “market perform” rating on the stock in a research report on Thursday, October 4th. ValuEngine raised TCG BDC from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $19.00 price objective on shares of TCG BDC in a research note on Thursday, August 9th. Finally, Zacks Investment Research raised TCG BDC from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Wednesday, October 24th.
A number of institutional investors have recently made changes to their positions in the business. Newport Trust Co purchased a new position in TCG BDC during the third quarter valued at $13,038,000. Sageworth Trust Co increased its holdings in shares of TCG BDC by 46.7% during the third quarter. Sageworth Trust Co now owns 611,849 shares of the company’s stock valued at $10,218,000 after acquiring an additional 194,863 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of TCG BDC by 1.7% during the second quarter. Van ECK Associates Corp now owns 446,612 shares of the company’s stock valued at $7,601,000 after acquiring an additional 7,383 shares in the last quarter. BlackRock Inc. bought a new position in shares of TCG BDC during the first quarter valued at $6,292,000. Finally, Legal & General Group Plc bought a new position in shares of TCG BDC during the second quarter valued at $3,964,000. 21.53% of the stock is owned by institutional investors and hedge funds.
TCG BDC (NASDAQ:CGBD) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $51.28 million for the quarter, compared to analysts’ expectations of $49.12 million. TCG BDC had a net margin of 33.51% and a return on equity of 9.41%. TCG BDC’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 earnings per share. On average, analysts anticipate that TCG BDC will post 1.67 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 17th. Shareholders of record on Friday, December 28th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 9.57%. The ex-dividend date is Thursday, December 27th. TCG BDC’s dividend payout ratio is currently 85.06%.
TCG BDC Company Profile
TCG BDC, Inc is a non-diversified closed-end investment company. The fund operates as a business development company. The company provides debt investments in the U.S. middle market companies. It also invests in first lien and second lien senior secured loans; middle market junior loans, such as corporate mezzanine loans, equity co-investments, syndicated first lien and second lien senior secured loans, high-yield bonds, structured finance obligations, and other opportunistic investments.
Featured Story: What are no-load funds?
Receive News & Ratings for TCG BDC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TCG BDC and related companies with MarketBeat.com's FREE daily email newsletter.