Blackrock Tcp Capital Corp. (TCPC) To Go Ex-Dividend on June 16th

Blackrock Tcp Capital Corp. (NASDAQ:TCPC) declared a quarterly dividend on Thursday, May 7th. Stockholders of record on Tuesday, June 16th will be paid a dividend of 0.17 per share by the investment management company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 17.9%. The ex-dividend date of this dividend is Tuesday, June 16th.

Blackrock Tcp Capital has decreased its dividend by an average of 0.0%annually over the last three years. Blackrock Tcp Capital has a payout ratio of 63.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Blackrock Tcp Capital to earn $0.76 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 89.5%.

Blackrock Tcp Capital Stock Performance

Shares of Blackrock Tcp Capital stock opened at $3.79 on Friday. The firm’s fifty day simple moving average is $3.98 and its 200-day simple moving average is $4.64. The stock has a market capitalization of $317.98 million, a price-to-earnings ratio of -2.54 and a beta of 0.93. Blackrock Tcp Capital has a 12 month low of $3.43 and a 12 month high of $7.92. The company has a debt-to-equity ratio of 1.64, a current ratio of 21.44 and a quick ratio of 21.44.

Blackrock Tcp Capital (NASDAQ:TCPC) last announced its earnings results on Thursday, May 7th. The investment management company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $42.58 million for the quarter, compared to analysts’ expectations of $40.10 million. Blackrock Tcp Capital had a negative net margin of 66.92% and a positive return on equity of 14.30%. As a group, equities analysts forecast that Blackrock Tcp Capital will post 0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackrock Tcp Capital in a report on Tuesday, June 2nd. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $3.50 target price (down from $7.00) on shares of Blackrock Tcp Capital in a report on Tuesday, March 3rd. Wall Street Zen raised shares of Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Wells Fargo & Company cut their target price on shares of Blackrock Tcp Capital from $5.50 to $3.50 and set an “underweight” rating on the stock in a report on Monday, March 2nd. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Sell” and an average target price of $3.50.

Blackrock Tcp Capital Company Profile

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.