BlackRock TCP Cap Stock (NASDAQ:TCPC), Trade Ideas

BlackRock TCP Cap

BlackRock TCP Capital Corp is an externally-managed specialty finance company focused on middle-market lending. Its investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It seeks to achieve investment objective through investments in debt securities of middle-market companies. The group generates returns through a combination of the receipt of contractual interest payments on debt investments and origination and similar fees, and, to a lesser extent, equity appreciation through options, warrants, conversion rights or direct equity investments.

BlackRock TCP Capital

BlackRock TCP Capital Corp. - Closed End Fund

BlackRock TCP Capital Corp

Keefe, Bruyette &amp; Woods analyst Paul Johnson maintains BlackRock TCP Cap (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCPC#NASDAQ">TCPC</a>) with a Market Perform and lowers the price target from $11.5 to $10.5.

News

Price Target

Analyst Ratings

TCPC

Keefe, Bruyette & Woods Maintains Market Perform on BlackRock TCP Cap, Lowers Price Target to $10.5

BlackRock TCP Capital Corp. ("TCPC")(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCPC#NASDAQ">TCPC</a>) and BlackRock Capital Investment Corporation ("BCIC")(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKCC#NASDAQ">BKCC</a>) announced today that the shareholders of each business development company ("BDC") have voted to approve the necessary proposals related to the merger of TCPC and BCIC at each company's special meeting of shareholders held on March 7, 2024.
Shareholders voted overwhelmingly in favor of the proposed transaction, as more than 90% of shareholders represented at each meeting voted in favor of the merger.
Rajneesh Vig, Co-Head of US Private Capital ("USPC") for BlackRock, and Chairman and CEO of BlackRock TCP Capital Corp., said: "We thank shareholders of both BDCs for their overwhelming support for the merger. We are excited about the opportunity ahead to leverage the combined company's scale to further our strategy of investing in attractive middle market companies that we believe will drive sustainable growth and value for our shareholders."
James Keenan, Chief Investment Officer and Global Head of Private Debt for BlackRock, and Interim CEO of BlackRock Capital Investment Corporation, said: "This transformational merger is a strategic next step in the growth and evolution of BlackRock's BDC platform, and it further enhances our ability to provide clients with industry-leading private credit products and services."
The merger is expected to close as soon as practicable, subject to closing conditions being satisfied. Following the merger, the surviving entity will continue as an indirect wholly-owned subsidiary of TCPC. TCPC will continue to trade on the Nasdaq Global Select Market under the ticker symbol "TCPC."

BKCC

BlackRock TCP Capital Corp. And BlackRock Capital Investment Corporation Announce Shareholder Approval Of Merger;  The Surviving Entity Will Continue As An Indirect Wholly-Owned Subsidiary Of TCPC

Oppenheimer analyst Mitchel Penn downgrades BlackRock TCP Cap (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCPC#NASDAQ">TCPC</a>) from Outperform to Perform and lowers the price target from $13 to $11.

Downgrades

Oppenheimer Downgrades BlackRock TCP Cap to Perform, Lowers Price Target to $11

Raymond James analyst Robert Dodd downgrades BlackRock TCP Cap (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCPC#NASDAQ">TCPC</a>) from Outperform to Market Perform.

Raymond James Downgrades BlackRock TCP Cap to Market Perform

Keefe, Bruyette &amp; Woods analyst Ryan Lynch maintains BlackRock TCP Cap (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCPC#NASDAQ">TCPC</a>) with a Market Perform and lowers the price target from $12.5 to $11.5.

Keefe, Bruyette & Woods Maintains Market Perform on BlackRock TCP Cap, Lowers Price Target to $11.5

JMP Securities analyst Brian McKenna downgrades BlackRock TCP Cap (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCPC#NASDAQ">TCPC</a>) from Market Outperform to Market Perform.

JMP Securities Downgrades BlackRock TCP Cap to Market Perform

Earnings

BlackRock TCP Capital Corp. NII $0.44 Vs $0.34 YoY

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Earnings Scheduled For February 29, 2024

Wells Fargo analyst Timothy O'Shea maintains BlackRock TCP Cap (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCPC#NASDAQ">TCPC</a>) with a Equal-Weight and raises the price target from $11 to $11.5.

Wells Fargo Maintains Equal-Weight on BlackRock TCP Cap, Raises Price Target to $11.5

BlackRock TCP Cap (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCPC#NASDAQ">TCPC</a>) reported quarterly earnings of $0.49 per share which beat the analyst consensus estimate of $0.47 by 4.26 percent. This is a 16.67 percent increase over earnings of $0.42 per share from the same period last year. The company reported quarterly sales of $54.21 million which beat the analyst consensus estimate of $52.65 million by 2.96 percent. This is a 12.46 percent increase over sales of $48.21 million the same period last year.

BlackRock TCP Cap Q3 2023 EPS $0.49 Beats $0.47 Estimate, Sales $54.21M Beat $52.65M Estimate

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Earnings Scheduled For November 2, 2023

BlackRock TCP Capital Corp. And BlackRock Capital Investment Corporation Announce Merger Agreement; Co. to Have Total Assets Of ~$2.4B

BlackRock TCP Cap (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCPC#NASDAQ">TCPC</a>) reported quarterly earnings of $0.48 per share which beat the analyst consensus estimate of $0.43 by 11.63 percent. This is a 29.73 percent increase over earnings of $0.37 per share from the same period last year. The company reported quarterly sales of $53.96 million which beat the analyst consensus estimate of $51.17 million by 5.45 percent. This is a 22.76 percent increase over sales of $43.95 million the same period last year.

Earnings Beats

BlackRock TCP Cap Q2 EPS $0.48 Beats $0.43 Estimate, Sales $53.96M Beat $51.17M Estimate