JMP Securities downgraded shares of Triangle Capital Corporation (NYSE:TCAP) from an outperform rating to a market perform rating in a report published on Wednesday, August 9th.
A number of other brokerages have also recently weighed in on TCAP. National Securities reaffirmed a buy rating and set a $22.00 price target on shares of Triangle Capital Corporation in a research report on Monday, May 8th. Zacks Investment Research raised shares of Triangle Capital Corporation from a sell rating to a hold rating in a research report on Friday, May 12th. Jefferies Group LLC reaffirmed a buy rating and set a $23.00 price target on shares of Triangle Capital Corporation in a research report on Friday, May 5th. Hilliard Lyons upgraded shares of Triangle Capital Corporation from a neutral rating to a buy rating and set a $19.00 price objective on the stock in a report on Monday, June 26th. Finally, ValuEngine lowered shares of Triangle Capital Corporation from a buy rating to a hold rating in a report on Friday, June 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $18.75.
Triangle Capital Corporation (NYSE:TCAP) traded down 1.11% on Wednesday, reaching $13.36. The company’s stock had a trading volume of 411,942 shares. The firm has a 50 day moving average price of $16.31 and a 200 day moving average price of $18.04. Triangle Capital Corporation has a 52 week low of $13.25 and a 52 week high of $20.35. The stock has a market capitalization of $637.87 million, a P/E ratio of 27.78 and a beta of 0.90.
Triangle Capital Corporation (NYSE:TCAP) last announced its quarterly earnings results on Wednesday, August 2nd. The credit services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by $0.01. Triangle Capital Corporation had a return on equity of 10.51% and a net margin of 16.92%. The business had revenue of $31.20 million for the quarter, compared to analysts’ expectations of $33.25 million. During the same period last year, the company posted $0.49 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Triangle Capital Corporation will post $1.67 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a yield of 13.47%. Triangle Capital Corporation’s dividend payout ratio is currently 346.16%.
In other Triangle Capital Corporation news, insider C. Robert Jr. Knox sold 3,000 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $17.72, for a total value of $53,160.00. Following the transaction, the insider now owns 75,716 shares in the company, valued at approximately $1,341,687.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.10% of the company’s stock.
Several large investors have recently modified their holdings of the stock. IHT Wealth Management LLC raised its stake in shares of Triangle Capital Corporation by 11.4% in the second quarter. IHT Wealth Management LLC now owns 2,450 shares of the credit services provider’s stock worth $249,000 after buying an additional 250 shares during the period. Trust Co. of Vermont bought a new stake in shares of Triangle Capital Corporation during the first quarter worth about $106,000. WFG Advisors LP bought a new stake in shares of Triangle Capital Corporation during the second quarter worth about $101,000. Sigma Planning Corp bought a new stake in shares of Triangle Capital Corporation during the second quarter worth about $181,000. Finally, Wilbanks Smith & Thomas Asset Management LLC bought a new stake in shares of Triangle Capital Corporation during the first quarter worth about $210,000. Institutional investors and hedge funds own 32.35% of the company’s stock.
Triangle Capital Corporation Company Profile
Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.
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