BlackRock TCP Capital (TCPC) Scheduled to Post Quarterly Earnings on Thursday

Posted by on Apr 27th, 2023

BlackRock TCP Capital (NASDAQ:TCPC – Get Rating) is set to post its quarterly earnings results before the market opens on Thursday, May 4th. Analysts expect BlackRock TCP Capital to post earnings of $0.40 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

BlackRock TCP Capital (NASDAQ:TCPC – Get Rating) last posted its earnings results on Tuesday, February 28th. The investment management company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. The firm had revenue of $46.69 million during the quarter, compared to the consensus estimate of $46.10 million. BlackRock TCP Capital had a negative net margin of 5.10% and a positive return on equity of 11.07%. On average, analysts expect BlackRock TCP Capital to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

BlackRock TCP Capital Trading Down 1.9 %

TCPC opened at $9.93 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 18.88 and a quick ratio of 18.88. BlackRock TCP Capital has a 1 year low of $9.60 and a 1 year high of $14.33. The firm has a 50 day moving average price of $10.78 and a 200 day moving average price of $12.08.

BlackRock TCP Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 17th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 12.89%. The ex-dividend date of this dividend was Thursday, March 16th. BlackRock TCP Capital’s dividend payout ratio (DPR) is -800.00%.

Hedge Funds Weigh In On BlackRock TCP Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC increased its holdings in shares of BlackRock TCP Capital by 45.8% in the fourth quarter. Millennium Management LLC now owns 1,076,928 shares of the investment management company’s stock worth $13,935,000 after acquiring an additional 338,456 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of BlackRock TCP Capital by 6.6% during the first quarter. Bank of America Corp DE now owns 617,246 shares of the investment management company’s stock worth $8,827,000 after buying an additional 38,268 shares in the last quarter. Ares Management LLC grew its holdings in shares of BlackRock TCP Capital by 5.2% during the first quarter. Ares Management LLC now owns 386,727 shares of the investment management company’s stock worth $5,530,000 after buying an additional 19,038 shares in the last quarter. Legal & General Group Plc boosted its position in BlackRock TCP Capital by 4.0% during the fourth quarter. Legal & General Group Plc now owns 386,343 shares of the investment management company’s stock valued at $5,001,000 after purchasing an additional 14,793 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in BlackRock TCP Capital by 6.1% during the first quarter. Advisors Asset Management Inc. now owns 357,213 shares of the investment management company’s stock valued at $5,108,000 after purchasing an additional 20,416 shares during the last quarter.

Wall Street Analyst Weigh In

TCPC has been the subject of a number of recent analyst reports. JMP Securities decreased their price target on shares of BlackRock TCP Capital from $14.50 to $13.00 and set a “market outperform” rating for the company in a research report on Thursday, March 2nd. Wells Fargo & Company decreased their price target on shares of BlackRock TCP Capital from $12.50 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 1st. Keefe, Bruyette & Woods decreased their price target on shares of BlackRock TCP Capital from $13.50 to $12.00 and set a “market perform” rating for the company in a research report on Wednesday, March 1st. TheStreet cut BlackRock TCP Capital from a “b-” rating to a “c” rating in a research note on Monday, March 27th. Finally, Oppenheimer reduced their price objective on BlackRock TCP Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, BlackRock TCP Capital presently has an average rating of “Moderate Buy” and an average price target of $12.40.

BlackRock TCP Capital Company Profile

(Get Rating)

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.

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Earnings History for BlackRock TCP Capital (NASDAQ:TCPC)

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