BlackRock TCP Capital Corp. (NASDAQ:TCPC) Receives $11.25 Consensus Target Price from Brokerages

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has been given an average rating of “Hold” by the five ratings firms that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $11.00.

A number of brokerages have recently commented on TCPC. JMP Securities reaffirmed a “market perform” rating on shares of BlackRock TCP Capital in a research note on Friday, March 1st. Keefe, Bruyette & Woods lowered their target price on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Oppenheimer reduced their price target on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Raymond James cut shares of BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, March 1st. Finally, Wells Fargo & Company lifted their target price on BlackRock TCP Capital from $11.00 to $11.50 and gave the stock an “equal weight” rating in a report on Monday, January 29th.

BlackRock TCP Capital Price Performance

TCPC opened at $10.45 on Tuesday. The company has a fifty day moving average price of $10.29 and a two-hundred day moving average price of $11.05. The company has a debt-to-equity ratio of 1.37, a quick ratio of 19.05 and a current ratio of 19.05. The firm has a market capitalization of $603.70 million, a PE ratio of 29.86 and a beta of 1.42. BlackRock TCP Capital has a 52 week low of $9.90 and a 52 week high of $13.00.

BlackRock TCP Capital (NASDAQ:TCPC) last announced its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. BlackRock TCP Capital had a return on equity of 13.95% and a net margin of 9.69%. The business had revenue of $55.73 million during the quarter, compared to analysts’ expectations of $50.99 million. During the same period in the previous year, the firm earned $0.44 earnings per share. As a group, analysts anticipate that BlackRock TCP Capital will post 1.71 earnings per share for the current year.

BlackRock TCP Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 13.01%. The ex-dividend date is Friday, June 14th. BlackRock TCP Capital’s payout ratio is 388.58%.

Institutional Trading of BlackRock TCP Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. Register Financial Advisors LLC bought a new position in BlackRock TCP Capital in the first quarter valued at $26,000. Future Financial Wealth Managment LLC acquired a new position in shares of BlackRock TCP Capital during the 1st quarter worth about $31,000. Morton Brown Family Wealth LLC bought a new position in shares of BlackRock TCP Capital in the 4th quarter valued at about $32,000. Cape Investment Advisory Inc. bought a new stake in BlackRock TCP Capital during the fourth quarter worth about $74,000. Finally, Tucker Asset Management LLC acquired a new position in BlackRock TCP Capital during the fourth quarter valued at approximately $74,000.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.