Triangle Capital Co. (TCAP) Expected to Announce Earnings of $0.34 Per Share

Wall Street brokerages forecast that Triangle Capital Co. (NYSE:TCAP) will post earnings of $0.34 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Triangle Capital’s earnings, with estimates ranging from $0.31 to $0.36. Triangle Capital posted earnings per share of $0.42 in the same quarter last year, which would suggest a negative year over year growth rate of 19%. The firm is scheduled to issue its next earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that Triangle Capital will report full-year earnings of $1.56 per share for the current fiscal year, with EPS estimates ranging from $1.49 to $1.71. For the next year, analysts anticipate that the business will post earnings of $1.44 per share, with EPS estimates ranging from $1.24 to $1.88. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for Triangle Capital.

Triangle Capital (NYSE:TCAP) last issued its earnings results on Wednesday, November 1st. The credit services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.05). The firm had revenue of $29.88 million during the quarter, compared to analysts’ expectations of $32.84 million. Triangle Capital had a positive return on equity of 10.67% and a negative net margin of 36.80%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share.

TCAP has been the topic of a number of analyst reports. ValuEngine raised Triangle Capital from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. TheStreet lowered Triangle Capital from a “c” rating to a “d+” rating in a research report on Friday, November 17th. Jefferies Group lowered Triangle Capital from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. National Securities decreased their price target on Triangle Capital from $16.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, November 6th. Finally, Robert W. Baird decreased their price target on Triangle Capital from $16.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $16.57.

A number of large investors have recently made changes to their positions in TCAP. Goldman Sachs Group Inc. raised its holdings in Triangle Capital by 154.0% during the first quarter. Goldman Sachs Group Inc. now owns 69,597 shares of the credit services provider’s stock worth $1,329,000 after purchasing an additional 42,192 shares in the last quarter. Sigma Planning Corp bought a new position in shares of Triangle Capital in the second quarter valued at $181,000. Legal & General Group Plc increased its holdings in shares of Triangle Capital by 33.1% in the second quarter. Legal & General Group Plc now owns 130,631 shares of the credit services provider’s stock valued at $2,302,000 after buying an additional 32,455 shares in the last quarter. First Personal Financial Services bought a new position in shares of Triangle Capital in the second quarter valued at $1,908,000. Finally, BB&T Securities LLC grew its position in Triangle Capital by 74.5% during the 2nd quarter. BB&T Securities LLC now owns 157,181 shares of the credit services provider’s stock worth $2,770,000 after purchasing an additional 67,097 shares in the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Triangle Capital (NYSE:TCAP) traded up $0.12 on Thursday, hitting $9.37. The company had a trading volume of 524,613 shares, compared to its average volume of 385,641. The company has a quick ratio of 56.98, a current ratio of 56.98 and a debt-to-equity ratio of 0.87. The stock has a market cap of $447.81, a price-to-earnings ratio of 5.83, a P/E/G ratio of 1.20 and a beta of 0.82. Triangle Capital has a twelve month low of $8.91 and a twelve month high of $20.35.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, December 5th. This represents a $1.20 annualized dividend and a yield of 12.81%. Triangle Capital’s payout ratio is -134.83%.

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Triangle Capital Company Profile

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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