Equities research analysts predict that THL Credit, Inc. (NASDAQ:TCRD) will report sales of $15.09 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for THL Credit’s earnings, with the lowest sales estimate coming in at $14.94 million and the highest estimate coming in at $15.24 million. THL Credit reported sales of $16.69 million in the same quarter last year, which would suggest a negative year over year growth rate of 9.6%. The company is expected to issue its next quarterly earnings results after the market closes on Thursday, May 9th.
According to Zacks, analysts expect that THL Credit will report full year sales of $60.59 million for the current year, with estimates ranging from $58.92 million to $63.40 million. For the next financial year, analysts forecast that the firm will report sales of $61.97 million, with estimates ranging from $61.23 million to $62.72 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover THL Credit.
THL Credit (NASDAQ:TCRD) last issued its quarterly earnings results on Wednesday, March 6th. The investment management company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.04). THL Credit had a positive return on equity of 10.69% and a negative net margin of 15.79%. The firm had revenue of $15.80 million during the quarter, compared to analysts’ expectations of $15.97 million.
A number of research firms have recently commented on TCRD. Zacks Investment Research cut THL Credit from a “hold” rating to a “sell” rating in a research note on Wednesday, March 13th. ValuEngine raised THL Credit from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Raymond James raised THL Credit from an “underperform” rating to a “market perform” rating in a research note on Monday, March 11th. Finally, National Securities cut their target price on THL Credit from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Monday, March 11th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $8.63.
Shares of NASDAQ TCRD traded up $0.03 during trading on Friday, reaching $6.67. The company had a trading volume of 5,276 shares, compared to its average volume of 127,742. THL Credit has a 12-month low of $5.80 and a 12-month high of $8.75. The stock has a market cap of $217.14 million, a P/E ratio of 6.21 and a beta of 1.15. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.36.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Wednesday, March 20th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 12.59%. The ex-dividend date was Tuesday, March 19th. THL Credit’s dividend payout ratio is 78.50%.
Hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new position in shares of THL Credit in the fourth quarter worth about $83,000. Trexquant Investment LP bought a new stake in THL Credit during the 3rd quarter valued at approximately $123,000. B. Riley Wealth Management Inc. bought a new stake in THL Credit during the 4th quarter valued at approximately $128,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in THL Credit during the 3rd quarter valued at approximately $238,000. Finally, HRT Financial LLC bought a new stake in THL Credit during the 4th quarter valued at approximately $323,000. 38.66% of the stock is currently owned by institutional investors.
THL Credit Company Profile
THL Credit, Inc is a business development company specializing in direct and fund of fund investments. The fund seeks to invest in debt and equity securities of middle market companies. It seeks to invest in PIPES, growth, acquisition, market or product expansion, recapitalization, mature, and change of control transactions in both sponsored and unsponsored issuers.
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