Other analysts also recently issued reports about the stock. Raymond James Financial, Inc. reaffirmed an underperform rating on shares of Triangle Capital Corporation in a report on Tuesday, October 17th. Hilliard Lyons raised shares of Triangle Capital Corporation from a neutral rating to a buy rating and set a $14.00 price objective for the company in a report on Wednesday, October 18th. Stephens downgraded shares of Triangle Capital Corporation from an overweight rating to an equal weight rating in a report on Friday, November 3rd. Keefe, Bruyette & Woods downgraded shares of Triangle Capital Corporation from an outperform rating to a market perform rating and decreased their price objective for the stock from $20.50 to $18.00 in a report on Thursday, August 3rd. Finally, Bank of America Corporation cut shares of Triangle Capital Corporation from a buy rating to an underperform rating in a research note on Thursday, November 2nd. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $16.57.
Triangle Capital Corporation (NYSE TCAP) traded up $0.26 during midday trading on Thursday, hitting $9.61. 794,314 shares of the company traded hands, compared to its average volume of 375,278. The company has a current ratio of 56.98, a quick ratio of 56.98 and a debt-to-equity ratio of 0.87. The company has a market cap of $446.38, a P/E ratio of 5.91, a P/E/G ratio of 1.22 and a beta of 0.91. Triangle Capital Corporation has a fifty-two week low of $8.91 and a fifty-two week high of $20.35.
Triangle Capital Corporation (NYSE:TCAP) last posted its quarterly earnings data on Wednesday, November 1st. The credit services provider reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.05). The firm had revenue of $29.88 million for the quarter, compared to the consensus estimate of $32.84 million. Triangle Capital Corporation had a positive return on equity of 10.67% and a negative net margin of 36.80%. Triangle Capital Corporation’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. sell-side analysts anticipate that Triangle Capital Corporation will post 1.56 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 12.49%. The ex-dividend date is Tuesday, December 5th. Triangle Capital Corporation’s payout ratio is currently -200.00%.
Hedge funds have recently made changes to their positions in the company. IHT Wealth Management LLC raised its stake in shares of Triangle Capital Corporation by 11.4% in the 2nd quarter. IHT Wealth Management LLC now owns 2,450 shares of the credit services provider’s stock valued at $249,000 after buying an additional 250 shares in the last quarter. WFG Advisors LP acquired a new position in shares of Triangle Capital Corporation in the 2nd quarter valued at $101,000. Financial Counselors Inc. acquired a new position in shares of Triangle Capital Corporation in the 3rd quarter valued at $143,000. Sigma Planning Corp acquired a new position in shares of Triangle Capital Corporation in the 2nd quarter valued at $181,000. Finally, Commerce Bank acquired a new position in shares of Triangle Capital Corporation in the 3rd quarter valued at $171,000. Institutional investors own 33.83% of the company’s stock.
About Triangle Capital Corporation
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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