JPMorgan Chase & Co. Lowers Blackrock Capital Investment (BKCC) to Neutral

JPMorgan Chase & Co. cut shares of Blackrock Capital Investment (NASDAQ:BKCC) from an overweight rating to a neutral rating in a research note issued to investors on Monday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $6.00 price target on the asset manager’s stock.

Several other analysts also recently issued reports on the company. Zacks Investment Research raised Blackrock Capital Investment from a sell rating to a hold rating in a report on Monday, September 17th. Wells Fargo & Co cut their price target on Blackrock Capital Investment from $7.00 to $6.00 and set a market perform rating on the stock in a report on Thursday, October 4th. ValuEngine raised Blackrock Capital Investment from a sell rating to a hold rating in a report on Monday, August 13th. Finally, BidaskClub raised Blackrock Capital Investment from a sell rating to a hold rating in a report on Friday, October 12th. Six equities research analysts have rated the stock with a hold rating, Blackrock Capital Investment currently has a consensus rating of Hold and a consensus target price of $6.33.

NASDAQ:BKCC opened at $6.02 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.81 and a current ratio of 0.81. Blackrock Capital Investment has a 52 week low of $5.48 and a 52 week high of $7.19. The company has a market cap of $422.59 million, a price-to-earnings ratio of 8.25, a PEG ratio of 9.25 and a beta of 0.64.

Blackrock Capital Investment (NASDAQ:BKCC) last released its earnings results on Wednesday, October 31st. The asset manager reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $21.01 million for the quarter, compared to the consensus estimate of $21.30 million. Blackrock Capital Investment had a return on equity of 9.10% and a net margin of 30.39%. On average, research analysts forecast that Blackrock Capital Investment will post 0.66 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 8th. Investors of record on Tuesday, December 18th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 11.96%. The ex-dividend date is Monday, December 17th. Blackrock Capital Investment’s dividend payout ratio (DPR) is 98.63%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Centaurus Financial Inc. bought a new stake in shares of Blackrock Capital Investment in the 2nd quarter worth approximately $127,000. Private Advisor Group LLC raised its stake in Blackrock Capital Investment by 113.3% during the 3rd quarter. Private Advisor Group LLC now owns 24,155 shares of the asset manager’s stock valued at $143,000 after acquiring an additional 12,828 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Blackrock Capital Investment by 43.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 48,491 shares of the asset manager’s stock valued at $283,000 after acquiring an additional 14,706 shares in the last quarter. Aperio Group LLC raised its stake in Blackrock Capital Investment by 83.5% during the 2nd quarter. Aperio Group LLC now owns 61,439 shares of the asset manager’s stock valued at $358,000 after acquiring an additional 27,954 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in Blackrock Capital Investment during the 2nd quarter valued at $761,000. 35.41% of the stock is currently owned by institutional investors and hedge funds.

About Blackrock Capital Investment

BlackRock Capital Investment Corporation, formerly known as BlackRock Kelso Capital Corporation, is a Business Development Company specializing in investments in middle market companies. The fund invests in all industries. It prefers to invest between $10 million and $50 million and can invest more or less in companies with EBITDA or operating cash flow between $10 million and $50 million.

Recommended Story: What is a Call Option?

Receive News & Ratings for Blackrock Capital Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackrock Capital Investment and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply