$0.39 Earnings Per Share Expected for TCP Capital (TCPC) This Quarter

Equities research analysts expect TCP Capital (NASDAQ:TCPC) to post $0.39 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for TCP Capital’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.38. TCP Capital reported earnings of $0.47 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 17%. The firm is scheduled to report its next quarterly earnings report before the market opens on Wednesday, May 9th.

According to Zacks, analysts expect that TCP Capital will report full year earnings of $1.58 per share for the current financial year, with EPS estimates ranging from $1.54 to $1.62. For the next financial year, analysts anticipate that the firm will report earnings of $1.60 per share, with EPS estimates ranging from $1.54 to $1.64. Zacks’ EPS averages are an average based on a survey of research analysts that cover TCP Capital.

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TCP Capital (NASDAQ:TCPC) last announced its earnings results on Tuesday, February 27th. The investment management company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.38 by $0.12. TCP Capital had a net margin of 42.13% and a return on equity of 12.63%. The business had revenue of $47.11 million during the quarter, compared to the consensus estimate of $44.77 million.

TCPC has been the subject of several analyst reports. BidaskClub upgraded shares of TCP Capital from a “strong sell” rating to a “sell” rating in a research note on Monday, February 5th. National Securities reiterated a “buy” rating and issued a $19.00 price objective on shares of TCP Capital in a research note on Wednesday, February 28th. Wells Fargo dropped their price objective on shares of TCP Capital from $17.25 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. JMP Securities dropped their price objective on shares of TCP Capital from $17.50 to $17.00 and set a “market outperform” rating for the company in a research note on Thursday, March 1st. Finally, ValuEngine upgraded shares of TCP Capital from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $17.67.

TCP Capital stock traded down $0.06 during midday trading on Friday, hitting $14.24. The company’s stock had a trading volume of 112,967 shares, compared to its average volume of 260,992. TCP Capital has a 1-year low of $13.72 and a 1-year high of $17.35. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $850.34, a price-to-earnings ratio of 7.16, a price-to-earnings-growth ratio of 1.83 and a beta of 0.67.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 16th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 10.11%. The ex-dividend date of this dividend was Thursday, March 15th. TCP Capital’s dividend payout ratio (DPR) is 72.36%.

TCP Capital declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 27th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the investment management company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

In other news, Director Kathleen A. Corbet bought 2,500 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was bought at an average cost of $15.22 per share, for a total transaction of $38,050.00. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at $380,500. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Howard Levkowitz bought 5,000 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was purchased at an average price of $14.47 per share, with a total value of $72,350.00. Following the completion of the transaction, the chief executive officer now directly owns 111,657 shares in the company, valued at approximately $1,615,676.79. The disclosure for this purchase can be found here. Insiders bought a total of 26,400 shares of company stock valued at $393,692 over the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Several large investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its position in shares of TCP Capital by 7.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 85,070 shares of the investment management company’s stock valued at $1,300,000 after buying an additional 5,751 shares in the last quarter. Stifel Financial Corp raised its position in shares of TCP Capital by 5.1% in the 3rd quarter. Stifel Financial Corp now owns 133,836 shares of the investment management company’s stock valued at $2,205,000 after buying an additional 6,527 shares in the last quarter. D.A. Davidson & CO. increased its position in TCP Capital by 4.4% during the 4th quarter. D.A. Davidson & CO. now owns 189,184 shares of the investment management company’s stock worth $2,891,000 after purchasing an additional 8,023 shares in the last quarter. Neuberger Berman Group LLC increased its position in TCP Capital by 2.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 339,712 shares of the investment management company’s stock worth $5,602,000 after purchasing an additional 8,312 shares in the last quarter. Finally, P.A.W. Capital Corp increased its position in TCP Capital by 16.9% during the 4th quarter. P.A.W. Capital Corp now owns 90,000 shares of the investment management company’s stock worth $1,375,000 after purchasing an additional 13,000 shares in the last quarter. Institutional investors own 52.91% of the company’s stock.

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TCP Capital Company Profile

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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