Several other analysts have also weighed in on the company. Raymond James Financial Inc. raised Triangle Capital Corp. from an underperform rating to a market perform rating in a report on Wednesday, June 29th. Jefferies Group reissued a buy rating on shares of Triangle Capital Corp. in a report on Thursday, August 4th. Finally, Zacks Investment Research raised Triangle Capital Corp. from a sell rating to a hold rating in a report on Tuesday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $21.40.
Shares of Triangle Capital Corp. (NYSE:TCAP) opened at 19.81 on Wednesday. The company has a 50-day moving average of $19.65 and a 200 day moving average of $19.53. Triangle Capital Corp. has a one year low of $14.91 and a one year high of $23.19. The stock has a market capitalization of $790.02 million, a price-to-earnings ratio of 14.25 and a beta of 0.85.
Triangle Capital Corp. (NYSE:TCAP) last posted its earnings results on Wednesday, August 3rd. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The company had revenue of $28.40 million for the quarter. Triangle Capital Corp. had a return on equity of 12.56% and a net margin of 39.44%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company posted $0.49 EPS. Equities research analysts forecast that Triangle Capital Corp. will post $1.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, September 7th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.09%. The ex-dividend date was Friday, September 2nd. Triangle Capital Corp.’s payout ratio is currently 129.50%.
Hedge funds have recently bought and sold shares of the stock. BlackRock Group LTD raised its stake in Triangle Capital Corp. by 8.4% in the first quarter. BlackRock Group LTD now owns 156,007 shares of the company’s stock worth $3,211,000 after buying an additional 12,035 shares during the last quarter. Wealthsource Partners LLC acquired a new stake in shares of Triangle Capital Corp. during the first quarter worth about $317,000. LGT Capital Partners LTD. acquired a new stake in shares of Triangle Capital Corp. during the second quarter worth about $2,720,000. Creative Planning raised its stake in shares of Triangle Capital Corp. by 8.6% in the second quarter. Creative Planning now owns 6,575 shares of the company’s stock worth $127,000 after buying an additional 523 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Triangle Capital Corp. during the second quarter worth about $4,070,000. 19.89% of the stock is currently owned by institutional investors and hedge funds.
About Triangle Capital Corp.
Triangle Capital Corporation is a specialty finance company. The Company provides customized financing to lower middle market companies located in the United States. The Company’s investment objective is to seek returns by generating current income from its debt investments and capital appreciation from its equity related investments.
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