$49.43 Million in Sales Expected for BlackRock TCP Capital Corp (TCPC) This Quarter

Wall Street brokerages expect BlackRock TCP Capital Corp (NASDAQ:TCPC) to report sales of $49.43 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for BlackRock TCP Capital’s earnings, with the highest sales estimate coming in at $50.01 million and the lowest estimate coming in at $48.85 million. BlackRock TCP Capital reported sales of $47.11 million during the same quarter last year, which indicates a positive year over year growth rate of 4.9%. The firm is scheduled to report its next quarterly earnings report before the market opens on Thursday, February 28th.

According to Zacks, analysts expect that BlackRock TCP Capital will report full-year sales of $191.55 million for the current fiscal year, with estimates ranging from $190.97 million to $192.12 million. For the next financial year, analysts forecast that the business will post sales of $203.44 million, with estimates ranging from $194.54 million to $212.33 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for BlackRock TCP Capital.

Several analysts have issued reports on TCPC shares. Zacks Investment Research lowered shares of BlackRock TCP Capital from a “buy” rating to a “hold” rating in a research report on Friday, November 30th. ValuEngine raised shares of BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, December 5th. National Securities reissued a “buy” rating and set a $19.00 price target on shares of BlackRock TCP Capital in a research report on Monday, November 12th. Finally, BidaskClub downgraded shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Saturday, December 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $16.70.

TCPC stock traded up $0.04 during midday trading on Friday, reaching $14.74. 219,021 shares of the company’s stock traded hands, compared to its average volume of 273,501. The stock has a market capitalization of $853.99 million, a price-to-earnings ratio of 7.41, a PEG ratio of 1.78 and a beta of 0.80. BlackRock TCP Capital has a 52 week low of $12.52 and a 52 week high of $14.98. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.01 and a quick ratio of 2.01.

In related news, CEO Howard Levkowitz purchased 5,000 shares of the business’s stock in a transaction on Friday, December 21st. The shares were acquired at an average price of $12.88 per share, for a total transaction of $64,400.00. Following the purchase, the chief executive officer now owns 124,144 shares of the company’s stock, valued at approximately $1,598,974.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul L. Davis acquired 2,000 shares of the business’s stock in a transaction dated Friday, December 7th. The stock was acquired at an average price of $14.24 per share, for a total transaction of $28,480.00. Following the purchase, the chief financial officer now directly owns 15,000 shares of the company’s stock, valued at $213,600. The disclosure for this purchase can be found here. Insiders bought a total of 24,000 shares of company stock valued at $316,760 in the last ninety days. Corporate insiders own 11.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of TCPC. Bramshill Investments LLC purchased a new position in BlackRock TCP Capital in the third quarter worth approximately $1,506,000. Mackenzie Financial Corp boosted its position in shares of BlackRock TCP Capital by 73.1% in the 3rd quarter. Mackenzie Financial Corp now owns 41,735 shares of the investment management company’s stock worth $594,000 after buying an additional 17,628 shares in the last quarter. State Treasurer State of Michigan purchased a new position in BlackRock TCP Capital in the 3rd quarter valued at about $342,000. Cliffwater LLC lifted its holdings in BlackRock TCP Capital by 75.0% in the 3rd quarter. Cliffwater LLC now owns 504,651 shares of the investment management company’s stock valued at $7,181,000 after purchasing an additional 216,256 shares in the last quarter. Finally, Roosevelt Investment Group Inc. acquired a new position in shares of BlackRock TCP Capital during the 4th quarter valued at about $722,000. Institutional investors and hedge funds own 47.27% of the company’s stock.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.

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