TCP Capital Corp (TCPC) Expected to Announce Earnings of $0.38 Per Share

Equities research analysts expect that TCP Capital Corp (NASDAQ:TCPC) will post $0.38 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have issued estimates for TCP Capital’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.39. TCP Capital reported earnings per share of $0.45 in the same quarter last year, which would suggest a negative year over year growth rate of 15.6%. The company is scheduled to announce its next earnings report on Tuesday, February 27th.

On average, analysts expect that TCP Capital will report full-year earnings of $1.57 per share for the current year, with EPS estimates ranging from $1.56 to $1.58. For the next financial year, analysts expect that the business will post earnings of $1.58 per share, with EPS estimates ranging from $1.54 to $1.62. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow TCP Capital.

Several equities analysts recently commented on TCPC shares. Keefe, Bruyette & Woods set a $18.00 price target on shares of TCP Capital and gave the company a “buy” rating in a research note on Friday, October 6th. BidaskClub raised shares of TCP Capital from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Ladenburg Thalmann Financial Services began coverage on shares of TCP Capital in a research report on Monday, November 20th. They set a “buy” rating and a $17.00 price objective for the company. Finally, National Securities reaffirmed a “buy” rating and set a $19.00 price objective on shares of TCP Capital in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $18.00.

TCP Capital (NASDAQ TCPC) traded down $0.09 during mid-day trading on Friday, hitting $15.42. 208,802 shares of the company traded hands, compared to its average volume of 187,280. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.18 and a quick ratio of 1.18. TCP Capital has a fifty-two week low of $15.37 and a fifty-two week high of $17.47. The firm has a market capitalization of $908.93, a P/E ratio of 8.94, a PEG ratio of 1.98 and a beta of 0.71.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.44 annualized dividend and a yield of 9.34%. TCP Capital’s dividend payout ratio is 102.13%.

TCP Capital declared that its board has approved a share repurchase program on Tuesday, November 7th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the investment management company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Several hedge funds have recently bought and sold shares of TCPC. Muzinich & Co. Inc. lifted its holdings in shares of TCP Capital by 34.3% in the second quarter. Muzinich & Co. Inc. now owns 2,616,821 shares of the investment management company’s stock worth $44,224,000 after acquiring an additional 668,411 shares during the last quarter. Yorktown Management & Research Co Inc lifted its holdings in shares of TCP Capital by 40.6% in the second quarter. Yorktown Management & Research Co Inc now owns 450,000 shares of the investment management company’s stock worth $7,605,000 after acquiring an additional 130,000 shares during the last quarter. GSA Capital Partners LLP raised its holdings in TCP Capital by 881.5% in the 2nd quarter. GSA Capital Partners LLP now owns 109,876 shares of the investment management company’s stock valued at $1,857,000 after buying an additional 98,681 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its holdings in TCP Capital by 28.1% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 420,261 shares of the investment management company’s stock valued at $6,930,000 after buying an additional 92,106 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in TCP Capital by 27.3% in the 2nd quarter. Van ECK Associates Corp now owns 418,273 shares of the investment management company’s stock valued at $7,069,000 after buying an additional 89,728 shares during the last quarter. 49.52% of the stock is owned by hedge funds and other institutional investors.

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About TCP Capital

TCP Capital Corp. is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It invests in the debt of middle-market companies, as well as small businesses, including senior secured loans, junior loans, mezzanine debt and bonds.

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