THL Credit, Inc. (TCRD) Expected to Announce Quarterly Sales of $15.09 Million

Brokerages predict that THL Credit, Inc. (NASDAQ:TCRD) will post $15.09 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for THL Credit’s earnings, with the highest sales estimate coming in at $15.24 million and the lowest estimate coming in at $14.94 million. THL Credit reported sales of $16.69 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 9.6%. The business is expected to announce its next quarterly earnings results after the market closes on Thursday, May 9th.

According to Zacks, analysts expect that THL Credit will report full-year sales of $60.59 million for the current year, with estimates ranging from $58.92 million to $63.40 million. For the next fiscal year, analysts expect that the business will post sales of $61.97 million, with estimates ranging from $61.23 million to $62.72 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow THL Credit.

THL Credit (NASDAQ:TCRD) last posted its quarterly earnings data on Wednesday, March 6th. The investment management company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.04). THL Credit had a negative net margin of 15.79% and a positive return on equity of 10.69%. The company had revenue of $15.80 million for the quarter, compared to analysts’ expectations of $15.97 million.

A number of equities analysts recently commented on TCRD shares. Zacks Investment Research downgraded THL Credit from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. ValuEngine upgraded THL Credit from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. National Securities reduced their price objective on THL Credit from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, March 11th. Finally, Raymond James raised THL Credit from an “underperform” rating to a “market perform” rating in a research note on Monday, March 11th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $8.63.

A number of hedge funds have recently bought and sold shares of the business. B. Riley Wealth Management Inc. acquired a new stake in THL Credit during the fourth quarter worth $128,000. HRT Financial LLC acquired a new position in THL Credit during the 4th quarter worth $323,000. Legal & General Group Plc grew its stake in THL Credit by 15.3% during the 4th quarter. Legal & General Group Plc now owns 141,895 shares of the investment management company’s stock worth $863,000 after purchasing an additional 18,815 shares in the last quarter. Two Sigma Advisers LP grew its stake in THL Credit by 27.2% during the 4th quarter. Two Sigma Advisers LP now owns 213,342 shares of the investment management company’s stock worth $1,297,000 after purchasing an additional 45,600 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in THL Credit by 33.4% during the 4th quarter. Two Sigma Investments LP now owns 227,169 shares of the investment management company’s stock worth $1,381,000 after purchasing an additional 56,898 shares in the last quarter. 38.66% of the stock is owned by institutional investors.

NASDAQ TCRD traded up $0.03 during trading hours on Friday, reaching $6.67. The company’s stock had a trading volume of 5,276 shares, compared to its average volume of 127,742. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.36. THL Credit has a 1 year low of $5.80 and a 1 year high of $8.75. The stock has a market cap of $217.14 million, a PE ratio of 6.21 and a beta of 1.15.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Wednesday, March 20th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.84 annualized dividend and a yield of 12.59%. THL Credit’s dividend payout ratio (DPR) is 78.50%.

THL Credit Company Profile

THL Credit, Inc is a business development company specializing in direct and fund of fund investments. The fund seeks to invest in debt and equity securities of middle market companies. It seeks to invest in PIPES, growth, acquisition, market or product expansion, recapitalization, mature, and change of control transactions in both sponsored and unsponsored issuers.

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