Several other analysts also recently weighed in on TCAP. Zacks Investment Research downgraded shares of Triangle Capital from a hold rating to a sell rating in a research report on Wednesday, April 26th. Jefferies Group LLC reiterated a buy rating and issued a $23.00 price objective on shares of Triangle Capital in a research report on Friday, May 5th. National Securities reiterated a buy rating and issued a $22.00 price objective on shares of Triangle Capital in a research report on Monday, May 8th. Wunderlich initiated coverage on shares of Triangle Capital in a research report on Wednesday, May 17th. They issued a buy rating and a $23.00 price objective on the stock. Finally, Hilliard Lyons upgraded shares of Triangle Capital from a neutral rating to a buy rating and set a $19.00 price objective on the stock in a research report on Monday, June 26th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Triangle Capital currently has an average rating of Hold and a consensus price target of $18.75.
Shares of Triangle Capital (TCAP) traded up 0.80% during midday trading on Wednesday, hitting $13.84. 582,592 shares of the stock were exchanged. The company has a market cap of $660.79 million, a PE ratio of 28.77 and a beta of 0.90. Triangle Capital has a 12-month low of $13.45 and a 12-month high of $20.35. The firm has a 50-day moving average price of $16.89 and a 200-day moving average price of $18.24.
Triangle Capital (NYSE:TCAP) last issued its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The firm had revenue of $31.20 million during the quarter, compared to the consensus estimate of $33.25 million. Triangle Capital had a negative net margin of 6.50% and a negative return on equity of 1.13%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 earnings per share. On average, equities analysts predict that Triangle Capital will post $1.67 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.01%. Triangle Capital’s dividend payout ratio (DPR) is 346.16%.
In other Triangle Capital news, insider C. Robert Jr. Knox sold 3,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $17.72, for a total transaction of $53,160.00. Following the sale, the insider now directly owns 75,716 shares in the company, valued at approximately $1,341,687.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Muzinich & Co. Inc. increased its stake in Triangle Capital by 8.8% in the second quarter. Muzinich & Co. Inc. now owns 1,946,091 shares of the credit services provider’s stock worth $34,290,000 after buying an additional 157,458 shares during the period. Wells Fargo & Company MN increased its stake in Triangle Capital by 3.8% in the second quarter. Wells Fargo & Company MN now owns 1,431,092 shares of the credit services provider’s stock worth $25,216,000 after buying an additional 52,878 shares during the period. UBS Group AG increased its stake in Triangle Capital by 47.7% in the first quarter. UBS Group AG now owns 831,395 shares of the credit services provider’s stock worth $15,872,000 after buying an additional 268,535 shares during the period. Van ECK Associates Corp increased its stake in Triangle Capital by 13.6% in the second quarter. Van ECK Associates Corp now owns 413,691 shares of the credit services provider’s stock worth $7,289,000 after buying an additional 49,381 shares during the period. Finally, Morgan Stanley increased its stake in Triangle Capital by 3.3% in the first quarter. Morgan Stanley now owns 333,326 shares of the credit services provider’s stock worth $6,363,000 after buying an additional 10,678 shares during the period. Institutional investors own 31.86% of the company’s stock.
About Triangle Capital
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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