Analysts forecast that THL Credit, Inc. (NASDAQ:TCRD) will post earnings per share (EPS) of $0.28 for the current quarter, Zacks reports. Four analysts have made estimates for THL Credit’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.28. THL Credit posted earnings per share of $0.40 during the same quarter last year, which would indicate a negative year over year growth rate of 30%. The company is scheduled to announce its next quarterly earnings report after the market closes on Thursday, May 4th.
On average, analysts expect that THL Credit will report full-year earnings of $1.11 per share for the current financial year, with EPS estimates ranging from $1.08 to $1.12. For the next financial year, analysts forecast that the business will report earnings of $1.14 per share, with EPS estimates ranging from $1.08 to $1.25. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow THL Credit.
THL Credit (NASDAQ:TCRD) last released its earnings results on Thursday, March 9th. The investment management company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.02. The firm earned $19.97 million during the quarter, compared to the consensus estimate of $20.43 million. THL Credit had a net margin of 5.92% and a return on equity of 11.82%. During the same period in the prior year, the company earned $0.36 EPS.
Several analysts have recently issued reports on TCRD shares. Jefferies Group LLC decreased their target price on shares of THL Credit from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Monday, March 13th. National Securities reiterated a “neutral” rating and set a $11.00 price target on shares of THL Credit in a report on Monday, March 13th. Zacks Investment Research downgraded shares of THL Credit from a “hold” rating to a “sell” rating in a report on Tuesday, March 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $10.50 price target on shares of THL Credit in a report on Tuesday, April 11th. Finally, TheStreet downgraded shares of THL Credit from a “b-” rating to a “c” rating in a report on Monday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.11.
In other news, insider James R. Fellows purchased 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The shares were bought at an average cost of $9.69 per share, for a total transaction of $116,280.00. Following the acquisition, the insider now owns 12,000 shares of the company’s stock, valued at approximately $116,280. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 16,250 shares of company stock worth $157,300 over the last quarter. 0.88% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Ares Management LLC increased its position in shares of THL Credit by 213.5% in the third quarter. Ares Management LLC now owns 1,038,716 shares of the investment management company’s stock valued at $9,899,000 after buying an additional 707,434 shares during the last quarter. Omega Advisors Inc. increased its position in shares of THL Credit by 954.2% in the third quarter. Omega Advisors Inc. now owns 342,796 shares of the investment management company’s stock worth $3,267,000 after buying an additional 310,280 shares in the last quarter. BB&T Securities LLC increased its position in shares of THL Credit by 471.3% in the third quarter. BB&T Securities LLC now owns 212,618 shares of the investment management company’s stock worth $2,026,000 after buying an additional 175,402 shares in the last quarter. PVG Asset Management Corp bought a new position in shares of THL Credit during the third quarter worth approximately $1,208,000. Finally, West Family Investments Inc. increased its position in shares of THL Credit by 23.3% in the fourth quarter. West Family Investments Inc. now owns 601,403 shares of the investment management company’s stock worth $6,020,000 after buying an additional 113,600 shares in the last quarter. Institutional investors own 43.41% of the company’s stock.
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THL Credit (NASDAQ:TCRD) traded down 0.20% on Monday, reaching $10.01. The company had a trading volume of 53,749 shares. THL Credit has a 12-month low of $8.75 and a 12-month high of $11.84. The stock’s 50 day moving average price is $9.91 and its 200-day moving average price is $9.97. The stock has a market capitalization of $329.58 million, a PE ratio of 19.36 and a beta of 0.96.
The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Monday, March 20th were issued a dividend of $0.27 per share. The ex-dividend date was Thursday, March 16th. This represents a $1.08 annualized dividend and a yield of 10.79%. THL Credit’s payout ratio is 675.04%.
THL Credit Company Profile
THL Credit, Inc is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of lower middle market companies.
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