Wall Street brokerages expect that THL Credit, Inc. (NASDAQ:TCRD) will announce $0.28 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for THL Credit’s earnings. The highest EPS estimate is $0.28 and the lowest is $0.27. THL Credit posted earnings per share of $0.40 during the same quarter last year, which would suggest a negative year over year growth rate of 30%. The company is expected to announce its next quarterly earnings results 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 year, with EPS estimates ranging from $1.08 to $1.12. For the next financial year, analysts anticipate that the company will report earnings of $1.14 per share, with EPS estimates ranging from $1.08 to $1.25. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow THL Credit.
THL Credit (NASDAQ:TCRD) last announced its quarterly earnings results on Thursday, March 9th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The firm had revenue of $19.97 million for the quarter, compared to analyst estimates of $20.43 million. THL Credit had a net margin of 5.92% and a return on equity of 11.82%. During the same quarter in the prior year, the firm earned $0.36 earnings per share.
A number of research analysts have weighed in on the company. TheStreet downgraded THL Credit from a “b-” rating to a “c” rating in a research note on Monday, April 10th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $10.50 price target on shares of THL Credit in a research note on Tuesday, April 11th. National Securities restated a “neutral” rating and issued a $11.00 price target on shares of THL Credit in a research note on Monday, March 13th. Jefferies Group LLC decreased their price target on THL Credit from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Monday, March 13th. Finally, Zacks Investment Research downgraded THL Credit from a “hold” rating to a “sell” rating in a research note on Tuesday, March 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.11.
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In other THL Credit news, insider James R. Fellows acquired 12,000 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was bought at an average cost of $9.69 per share, with a total value of $116,280.00. Following the completion of the transaction, the insider now directly owns 12,000 shares in the company, valued at approximately $116,280. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders bought 16,250 shares of company stock valued at $157,300. Insiders own 0.88% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in TCRD. Confluence Investment Management LLC boosted its stake in THL Credit by 11.2% in the first quarter. Confluence Investment Management LLC now owns 1,049,235 shares of the investment management company’s stock valued at $10,451,000 after buying an additional 105,400 shares during the last quarter. Ares Management LLC boosted its stake in 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. UBS Group AG boosted its stake in THL Credit by 6.1% in the third quarter. UBS Group AG now owns 625,699 shares of the investment management company’s stock valued at $5,963,000 after buying an additional 35,983 shares during the last quarter. West Family Investments Inc. boosted its stake in 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 valued at $6,020,000 after buying an additional 113,600 shares during the last quarter. Finally, Omega Advisors Inc. boosted its stake in THL Credit by 954.2% in the third quarter. Omega Advisors Inc. now owns 342,796 shares of the investment management company’s stock valued at $3,267,000 after buying an additional 310,280 shares during the last quarter. 43.41% of the stock is owned by institutional investors.
Shares of THL Credit (NASDAQ:TCRD) traded down 0.20% during midday trading on Monday, hitting $10.01. The stock had a trading volume of 53,749 shares. The firm’s 50-day moving average is $9.91 and its 200 day moving average is $9.97. The company has a market capitalization of $329.58 million, a PE ratio of 19.36 and a beta of 0.96. THL Credit has a one year low of $8.75 and a one year high of $11.84.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Monday, March 20th were given a $0.27 dividend. The ex-dividend date was Thursday, March 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 10.79%. THL Credit’s payout ratio is 675.04%.
About THL Credit
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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