BlackRock TCP Capital Corp (NASDAQ:TCPC) Receives $16.83 Average Price Target from Analysts

BlackRock TCP Capital Corp (NASDAQ:TCPC) has been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $16.63.

Several analysts have commented on TCPC shares. Oppenheimer set a $16.00 target price on shares of BlackRock TCP Capital and gave the stock a “buy” rating in a research note on Friday, August 9th. BidaskClub raised shares of BlackRock TCP Capital from a “strong sell” rating to a “sell” rating in a research note on Friday, August 2nd. TheStreet raised shares of BlackRock TCP Capital from a “c+” rating to a “b” rating in a research note on Tuesday, May 28th. National Securities reaffirmed a “buy” rating and issued a $18.00 target price on shares of BlackRock TCP Capital in a research note on Monday, May 13th. Finally, ValuEngine cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, July 24th.

A number of hedge funds have recently added to or reduced their stakes in TCPC. Advisors Capital Management LLC acquired a new stake in BlackRock TCP Capital during the second quarter valued at approximately $5,481,000. Invesco Ltd. lifted its stake in BlackRock TCP Capital by 66.0% during the second quarter. Invesco Ltd. now owns 217,895 shares of the investment management company’s stock valued at $3,105,000 after purchasing an additional 86,616 shares during the last quarter. Virtus ETF Advisers LLC acquired a new stake in BlackRock TCP Capital during the second quarter valued at approximately $3,527,000. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in BlackRock TCP Capital by 101.4% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 58,600 shares of the investment management company’s stock valued at $835,000 after purchasing an additional 29,500 shares during the last quarter. Finally, Cliffwater LLC lifted its stake in BlackRock TCP Capital by 8.1% during the second quarter. Cliffwater LLC now owns 639,211 shares of the investment management company’s stock valued at $9,109,000 after purchasing an additional 48,018 shares during the last quarter. 41.93% of the stock is owned by hedge funds and other institutional investors.

Shares of TCPC traded down $0.10 during mid-day trading on Friday, reaching $13.19. 12,114 shares of the company’s stock were exchanged, compared to its average volume of 328,008. The company has a debt-to-equity ratio of 0.97, a quick ratio of 3.75 and a current ratio of 3.75. The stock’s 50-day simple moving average is $14.06. BlackRock TCP Capital has a 52-week low of $12.52 and a 52-week high of $14.88. The company has a market cap of $781.05 million, a P/E ratio of 8.30, a price-to-earnings-growth ratio of 2.80 and a beta of 0.70.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Thursday, August 8th. The investment management company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. The business had revenue of $48.18 million during the quarter, compared to analysts’ expectations of $47.17 million. BlackRock TCP Capital had a net margin of 14.19% and a return on equity of 11.32%. On average, equities research analysts predict that BlackRock TCP Capital will post 1.6 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.36 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.44 annualized dividend and a yield of 10.92%. BlackRock TCP Capital’s payout ratio is currently 90.57%.

BlackRock TCP Capital Company Profile

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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