BlackRock TCP Capital Q3 net investment income $0.32/share exceeds dividends

BlackRock TCP Capital

06/11/2025 13:14

Overview

BlackRock TCP Capital Q3 net investment income $0.32/share, exceeding dividend payments

Net asset value per share unchanged at $8.71 from previous quarter

Company declares Q4 dividend of $0.25/share, payable December 31, 2025

Outlook

Company anticipates a $0.15 per share impact on Q4 NAV due to Renovo write-down

BlackRock TCP Capital sees growing pipeline and focus on selective capital deployment

Company reports decline in non-accruals to 3.5% of portfolio's fair market value

Result Drivers

NON-ACCRUALS REDUCTION - Co reduced non-accruals to 3.5% of portfolio's fair market value, down from 3.7% last quarter

PORTFOLIO DIVERSIFICATION - Co reduced average position size to $7.8 mln from $11.7 mln at end of 2024, creating a more diversified, lower risk portfolio

EXPANDED DEAL FLOW - Partnership with HPS and creation of Private Financing Solutions platform expanded deal flow, aligning with investment strategy

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Basic EPS
$0.29
Q3 Net Asset Value Per Share
$8.71
Q3 Operating Expenses
$23.20 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the investment management & fund operators peer group is "buy."

Wall Street's median 12-month price target for BlackRock TCP Capital Corp is $7.50, about 26.4% above its November 5 closing price of $5.52

The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 6 three months ago

Press Release: ID:nBw7GrqFYa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)