Zacks: Brokerages Expect BlackRock TCP Capital Corp (NASDAQ:TCPC) Will Post Quarterly Sales of $48.11 Million
Equities analysts expect that BlackRock TCP Capital Corp (NASDAQ:TCPC) will report sales of $48.11 million for the current quarter, according to Zacks. Three analysts have issued estimates for BlackRock TCP Capital’s earnings, with the highest sales estimate coming in at $49.64 million and the lowest estimate coming in at $45.61 million. BlackRock TCP Capital posted sales of $49.48 million in the same quarter last year, which suggests a negative year over year growth rate of 2.8%. The company is scheduled to report its next earnings results on Thursday, November 14th.
On average, analysts expect that BlackRock TCP Capital will report full-year sales of $191.74 million for the current financial year, with estimates ranging from $185.00 million to $196.31 million. For the next year, analysts anticipate that the firm will report sales of $197.02 million, with estimates ranging from $192.00 million to $203.74 million. Zacks’ sales calculations are an average based on a survey of research firms that cover BlackRock TCP Capital.
BlackRock TCP Capital (NASDAQ:TCPC) last posted its earnings results on Thursday, August 8th. The investment management company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. BlackRock TCP Capital had a net margin of 14.19% and a return on equity of 11.45%. The firm had revenue of $48.18 million during the quarter, compared to analyst estimates of $47.17 million.
Shares of NASDAQ TCPC traded up $0.01 during trading hours on Monday, hitting $13.75. 313,357 shares of the company’s stock were exchanged, compared to its average volume of 259,622. BlackRock TCP Capital has a 1-year low of $12.52 and a 1-year high of $14.88. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.87 and a quick ratio of 2.87. The stock has a market capitalization of $807.50 million, a price-to-earnings ratio of 8.65, a PEG ratio of 2.81 and a beta of 0.71. The company’s 50-day moving average price is $13.64 and its 200-day moving average price is $14.20.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.44 annualized dividend and a yield of 10.47%. BlackRock TCP Capital’s dividend payout ratio (DPR) is 90.57%.
In related news, insider Michael E. Leitner acquired 15,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $13.31 per share, for a total transaction of $199,650.00. Following the purchase, the insider now owns 15,065 shares in the company, valued at approximately $200,515.15. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Howard Levkowitz acquired 10,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was bought at an average price of $13.29 per share, for a total transaction of $132,900.00. Following the completion of the purchase, the chief executive officer now owns 135,905 shares in the company, valued at approximately $1,806,177.45. The disclosure for this purchase can be found here. Corporate insiders own 0.63% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sandy Spring Bank bought a new stake in BlackRock TCP Capital during the 2nd quarter worth approximately $29,000. Truvestments Capital LLC bought a new stake in BlackRock TCP Capital during the 2nd quarter worth approximately $33,000. NEXT Financial Group Inc bought a new stake in BlackRock TCP Capital during the 2nd quarter worth approximately $47,000. Steward Partners Investment Advisory LLC bought a new stake in BlackRock TCP Capital during the 2nd quarter worth approximately $111,000. Finally, Stelac Advisory Services LLC bought a new stake in BlackRock TCP Capital during the 2nd quarter worth approximately $130,000. Institutional investors and hedge funds own 38.90% of the company’s stock.
About BlackRock TCP Capital
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.
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