TCP Capital Corp. (NASDAQ:TCPC) – Oppenheimer Holdings issued their Q1 2018 earnings per share (EPS) estimates for shares of TCP Capital Corp. in a research note issued on Tuesday. Oppenheimer Holdings analyst C. Kotowski anticipates that the investment management company will earn $0.37 per share for the quarter. Oppenheimer Holdings also issued estimates for TCP Capital Corp.’s Q2 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.39 EPS, Q4 2018 earnings at $0.40 EPS and FY2018 earnings at $1.58 EPS.
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TCPC has been the subject of several other reports. Keefe, Bruyette & Woods set a $18.00 price target on shares of TCP Capital Corp. and gave the stock a “buy” rating in a report on Friday, October 6th. BidaskClub raised shares of TCP Capital Corp. from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. National Securities raised shares of TCP Capital Corp. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $17.00 to $19.00 in a report on Monday, August 7th. Finally, National Bank Financial raised shares of TCP Capital Corp. from a “sector perform” rating to an “outperform” rating in a report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.25.
TCP Capital Corp. (NASDAQ:TCPC) opened at $15.90 on Thursday. The stock has a market cap of $935.97, a PE ratio of 9.20, a P/E/G ratio of 2.04 and a beta of 0.73. TCP Capital Corp. has a 1-year low of $15.55 and a 1-year high of $17.47. The company has a current ratio of 1.18, a quick ratio of 1.64 and a debt-to-equity ratio of 0.76.
TCP Capital Corp. declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 7th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the investment management company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.36 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.44 dividend on an annualized basis and a yield of 9.06%. TCP Capital Corp.’s dividend payout ratio (DPR) is presently 102.13%.
A number of institutional investors have recently modified their holdings of the business. Hartland & Co. LLC purchased a new position in TCP Capital Corp. in the third quarter valued at about $218,000. Trexquant Investment LP purchased a new position in TCP Capital Corp. in the third quarter valued at about $190,000. Legal & General Group Plc increased its holdings in TCP Capital Corp. by 10.1% in the third quarter. Legal & General Group Plc now owns 170,727 shares of the investment management company’s stock valued at $2,814,000 after buying an additional 15,726 shares in the last quarter. Relative Value Partners Group LLC increased its holdings in TCP Capital Corp. by 27.9% in the third quarter. Relative Value Partners Group LLC now owns 53,664 shares of the investment management company’s stock valued at $885,000 after buying an additional 11,718 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in TCP Capital Corp. by 18.5% in the third quarter. D.A. Davidson & CO. now owns 181,161 shares of the investment management company’s stock valued at $2,987,000 after buying an additional 28,295 shares in the last quarter. 53.04% of the stock is owned by institutional investors.
About TCP Capital Corp.
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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