BlackRock TCP Capital Corp (NASDAQ:TCPC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of BlackRock TCP Capital Corp (NASDAQ:TCPC) have earned an average recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $16.88.

TCPC has been the subject of several research reports. National Securities lowered their price objective on shares of BlackRock TCP Capital from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, March 4th. BidaskClub cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Zacks Investment Research cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. Finally, TheStreet cut shares of BlackRock TCP Capital from a “b-” rating to a “c+” rating in a report on Friday, April 5th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Spectrum Management Group Inc. purchased a new position in BlackRock TCP Capital in the first quarter valued at $142,000. Sheaff Brock Investment Advisors LLC purchased a new position in BlackRock TCP Capital in the first quarter valued at $147,000. CFO4Life Group LLC increased its holdings in BlackRock TCP Capital by 20.1% in the first quarter. CFO4Life Group LLC now owns 14,049 shares of the investment management company’s stock valued at $199,000 after buying an additional 2,356 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in BlackRock TCP Capital by 13.3% in the fourth quarter. Great West Life Assurance Co. Can now owns 17,559 shares of the investment management company’s stock valued at $221,000 after buying an additional 2,066 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in BlackRock TCP Capital in the fourth quarter valued at $240,000. 42.78% of the stock is owned by institutional investors.

Shares of NASDAQ:TCPC traded up $0.08 on Friday, hitting $14.18. 7,993 shares of the company were exchanged, compared to its average volume of 201,701. BlackRock TCP Capital has a 1-year low of $12.52 and a 1-year high of $14.98. The stock has a 50 day moving average price of $14.50. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.75 and a quick ratio of 3.75. The stock has a market cap of $828.66 million, a price-to-earnings ratio of 8.92, a P/E/G ratio of 2.96 and a beta of 0.75.

BlackRock TCP Capital (NASDAQ:TCPC) last posted its quarterly earnings data on Wednesday, May 8th. The investment management company reported $0.40 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. BlackRock TCP Capital had a net margin of 21.88% and a return on equity of 11.27%. The business had revenue of $47.54 million during the quarter, compared to the consensus estimate of $47.36 million. On average, sell-side analysts forecast that BlackRock TCP Capital will post 1.61 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.44 annualized dividend and a dividend yield of 10.16%. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently 90.57%.

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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