Wall Street analysts expect THL Credit, Inc. (NASDAQ:TCRD) to post sales of $16.63 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for THL Credit’s earnings. The highest sales estimate is $16.97 million and the lowest is $16.28 million. THL Credit posted sales of $20.11 million during the same quarter last year, which would suggest a negative year over year growth rate of 17.3%. The firm is expected to announce its next earnings report on Thursday, November 8th.
On average, analysts expect that THL Credit will report full-year sales of $68.64 million for the current fiscal year, with estimates ranging from $67.91 million to $69.37 million. For the next financial year, analysts expect that the company will post sales of $71.53 million, with estimates ranging from $69.89 million to $73.17 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover THL Credit.
THL Credit (NASDAQ:TCRD) last posted its earnings results on Wednesday, August 8th. The investment management company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.04. THL Credit had a positive return on equity of 11.15% and a negative net margin of 8.89%. The company had revenue of $18.36 million for the quarter, compared to analyst estimates of $16.92 million.
A number of research analysts have recently weighed in on TCRD shares. BidaskClub lowered THL Credit from a “hold” rating to a “sell” rating in a report on Monday. ValuEngine lowered THL Credit from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 18th. National Securities restated a “neutral” rating and issued a $10.00 target price on shares of THL Credit in a report on Tuesday, August 14th. Finally, Zacks Investment Research upgraded THL Credit from a “hold” rating to a “buy” rating and set a $9.25 target price on the stock in a report on Tuesday, August 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. THL Credit presently has a consensus rating of “Hold” and an average target price of $9.85.
TCRD stock opened at $7.92 on Tuesday. THL Credit has a twelve month low of $7.70 and a twelve month high of $9.67. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market capitalization of $263.68 million, a PE ratio of 6.55 and a beta of 1.14.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 13.64%. The ex-dividend date of this dividend was Thursday, September 13th. THL Credit’s payout ratio is 89.26%.
Several institutional investors and hedge funds have recently modified their holdings of the stock. West Family Investments Inc. increased its position in shares of THL Credit by 8.0% during the second quarter. West Family Investments Inc. now owns 729,374 shares of the investment management company’s stock valued at $5,704,000 after acquiring an additional 54,069 shares during the last quarter. Fiera Capital Corp increased its position in shares of THL Credit by 2.5% during the second quarter. Fiera Capital Corp now owns 717,358 shares of the investment management company’s stock valued at $5,610,000 after acquiring an additional 17,235 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in shares of THL Credit by 51.2% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 369,234 shares of the investment management company’s stock valued at $2,887,000 after acquiring an additional 125,000 shares during the last quarter. Freestone Capital Holdings LLC increased its position in shares of THL Credit by 9.4% during the first quarter. Freestone Capital Holdings LLC now owns 312,093 shares of the investment management company’s stock valued at $2,425,000 after acquiring an additional 26,772 shares during the last quarter. Finally, Personal Resources Investment & Strategic Management Inc. increased its position in shares of THL Credit by 4.8% during the second quarter. Personal Resources Investment & Strategic Management Inc. now owns 161,360 shares of the investment management company’s stock valued at $1,313,000 after acquiring an additional 7,383 shares during the last quarter. 40.24% of the stock is owned by institutional investors.
THL Credit Company Profile
THL Credit, Inc is an externally managed, non-diversified closed-end management investment company. Its objective is to generate both current income and capital appreciation, through investments in privately negotiated debt and equity securities of lower middle market companies. The company was founded on May 26, 2009 and is headquartered in Boston, MA.
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