Analysts Set BlackRock TCP Capital Corp. (NASDAQ:TCPC) Target Price at $10.67

BlackRock TCP Capital Corp. (NASDAQ:TCPC) has received an average recommendation of “Hold” from the five analysts that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $10.67.

TCPC has been the subject of several recent analyst reports. Oppenheimer decreased their target price on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Thursday, May 2nd. JMP Securities reissued a “market perform” rating on shares of BlackRock TCP Capital in a report on Friday, March 1st. StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a report on Friday, May 31st. Raymond James cut shares of BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a report on Friday, March 1st. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating for the company in a report on Friday, March 22nd.

Hedge Funds Weigh In On BlackRock TCP Capital

Hedge funds have recently modified their holdings of the company. Register Financial Advisors LLC bought a new position in shares of BlackRock TCP Capital in the first quarter worth approximately $26,000. Future Financial Wealth Managment LLC bought a new position in shares of BlackRock TCP Capital during the first quarter worth $31,000. Morton Brown Family Wealth LLC bought a new position in shares of BlackRock TCP Capital during the fourth quarter worth $32,000. Cape Investment Advisory Inc. bought a new position in shares of BlackRock TCP Capital during the fourth quarter worth $74,000. Finally, Tucker Asset Management LLC bought a new position in shares of BlackRock TCP Capital during the fourth quarter worth $74,000.

BlackRock TCP Capital Price Performance

TCPC opened at $10.67 on Wednesday. BlackRock TCP Capital has a 1 year low of $9.90 and a 1 year high of $13.00. The stock has a 50-day moving average price of $10.68 and a 200-day moving average price of $10.96. The firm has a market cap of $913.25 million, a PE ratio of 30.49 and a beta of 1.47. The company has a debt-to-equity ratio of 1.37, a current ratio of 19.05 and a quick ratio of 19.05.

BlackRock TCP Capital (NASDAQ:TCPC) last issued its earnings results on Wednesday, May 1st. The investment management company reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. The business had revenue of $55.73 million during the quarter, compared to analysts’ expectations of $50.99 million. BlackRock TCP Capital had a net margin of 9.69% and a return on equity of 13.95%. During the same period in the previous year, the company earned $0.44 earnings per share. Sell-side analysts predict that BlackRock TCP Capital will post 1.71 earnings per share for the current fiscal year.

BlackRock TCP Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, June 14th. This represents a $1.36 dividend on an annualized basis and a yield of 12.75%. BlackRock TCP Capital’s dividend payout ratio is currently 388.58%.

BlackRock TCP Capital Company Profile

BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.