Triangle Capital Corporation (NYSE:TCAP) had its price target lowered by Robert W. Baird from $16.00 to $12.00 in a research report sent to investors on Friday morning. The firm currently has an outperform rating on the credit services provider’s stock.
A number of other analysts have also issued reports on TCAP. Zacks Investment Research lowered Triangle Capital Corporation from a hold rating to a sell rating in a report on Thursday, July 13th. BidaskClub lowered Triangle Capital Corporation from a hold rating to a sell rating in a report on Sunday, July 16th. ValuEngine upgraded Triangle Capital Corporation from a hold rating to a buy rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods lowered Triangle Capital Corporation from an outperform rating to a market perform rating and cut their price objective for the stock from $20.50 to $18.00 in a report on Thursday, August 3rd. Finally, JMP Securities lowered Triangle Capital Corporation from an outperform rating to a market perform rating in a report on Thursday, August 3rd. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Triangle Capital Corporation currently has a consensus rating of Hold and a consensus price target of $17.29.
Triangle Capital Corporation (TCAP) traded down $2.43 on Friday, hitting $9.82. The stock had a trading volume of 2,112,517 shares, compared to its average volume of 684,096. The company has a market cap of $468.82, a PE ratio of 6.10, a price-to-earnings-growth ratio of 1.22 and a beta of 0.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 56.98 and a quick ratio of 18.42.
Triangle Capital Corporation (NYSE:TCAP) last released its earnings results on Wednesday, November 1st. The credit services provider reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.05). The business had revenue of $29.88 million during the quarter, compared to analysts’ expectations of $32.84 million. Triangle Capital Corporation had a negative net margin of 36.80% and a positive return on equity of 10.67%. Triangle Capital Corporation’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 EPS. equities analysts anticipate that Triangle Capital Corporation will post 1.56 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 12.22%. The ex-dividend date of this dividend is Tuesday, December 5th. Triangle Capital Corporation’s dividend payout ratio is -202.24%.
Institutional investors and hedge funds have recently made changes to their positions in the business. WFG Advisors LP bought a new position in Triangle Capital Corporation during the second quarter worth about $101,000. Sigma Planning Corp bought a new position in Triangle Capital Corporation during the second quarter worth about $181,000. Trust Co. of Vermont lifted its stake in Triangle Capital Corporation by 139.9% during the second quarter. Trust Co. of Vermont now owns 13,342 shares of the credit services provider’s stock worth $235,000 after purchasing an additional 7,781 shares during the period. Wasatch Advisors Inc. bought a new position in Triangle Capital Corporation during the second quarter worth about $235,000. Finally, IHT Wealth Management LLC lifted its stake in Triangle Capital Corporation by 11.4% during the second quarter. IHT Wealth Management LLC now owns 2,450 shares of the credit services provider’s stock worth $249,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors own 31.39% of the company’s stock.
About Triangle Capital Corporation
Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.
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