Analysts Set BlackRock TCP Capital Corp. (NASDAQ:TCPC) Price Target at $12.40

Posted by Defense World Staff on Apr 24th, 2023

BlackRock TCP Capital Corp. (NASDAQ:TCPC – Get Rating) has received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $12.40.

A number of equities research analysts recently weighed in on TCPC shares. Wells Fargo & Company dropped their price target on BlackRock TCP Capital from $12.50 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 1st. JMP Securities lowered their price objective on BlackRock TCP Capital from $14.50 to $13.00 and set a “market outperform” rating on the stock in a research report on Thursday, March 2nd. Oppenheimer lowered their price objective on BlackRock TCP Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 1st. Keefe, Bruyette & Woods lowered their price objective on BlackRock TCP Capital from $13.50 to $12.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 1st. Finally, Raymond James lowered their price objective on BlackRock TCP Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 1st.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Cliffwater LLC lifted its holdings in BlackRock TCP Capital by 6.1% during the 3rd quarter. Cliffwater LLC now owns 1,279,269 shares of the investment management company’s stock worth $13,982,000 after purchasing an additional 74,083 shares in the last quarter. Millennium Management LLC raised its holdings in shares of BlackRock TCP Capital by 45.8% in the 4th quarter. Millennium Management LLC now owns 1,076,928 shares of the investment management company’s stock valued at $13,935,000 after acquiring an additional 338,456 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of BlackRock TCP Capital by 2.9% in the 4th quarter. Van ECK Associates Corp now owns 785,412 shares of the investment management company’s stock valued at $10,164,000 after acquiring an additional 21,779 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of BlackRock TCP Capital by 6.6% in the 1st quarter. Bank of America Corp DE now owns 617,246 shares of the investment management company’s stock valued at $8,827,000 after acquiring an additional 38,268 shares in the last quarter. Finally, Ares Management LLC raised its holdings in shares of BlackRock TCP Capital by 5.2% in the 1st quarter. Ares Management LLC now owns 386,727 shares of the investment management company’s stock valued at $5,530,000 after acquiring an additional 19,038 shares in the last quarter.

BlackRock TCP Capital Price Performance

Shares of TCPC opened at $10.01 on Friday. The company has a current ratio of 18.88, a quick ratio of 18.88 and a debt-to-equity ratio of 1.26. The stock has a 50 day simple moving average of $10.95 and a 200 day simple moving average of $12.11. BlackRock TCP Capital has a 52-week low of $9.60 and a 52-week high of $14.33.

BlackRock TCP Capital (NASDAQ:TCPC – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The investment management company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.01. BlackRock TCP Capital had a positive return on equity of 11.07% and a negative net margin of 5.10%. The business had revenue of $46.69 million during the quarter, compared to analyst estimates of $46.10 million. On average, sell-side analysts forecast that BlackRock TCP Capital will post 1.63 EPS for the current fiscal year.

BlackRock TCP Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 17th were issued a dividend of $0.32 per share. The ex-dividend date was Thursday, March 16th. This represents a $1.28 annualized dividend and a yield of 12.79%. BlackRock TCP Capital’s dividend payout ratio (DPR) is currently -800.00%.

BlackRock TCP Capital Company Profile

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TCP Capital Corp. is an externally-managed specialty finance company focused on middle-market lending. We have elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940. Our stock is traded on NASDAQ under the ticker symbol ”TCPC”. TCP Capital’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection.