Wall Street brokerages expect THL Credit, Inc. (NASDAQ:TCRD) to report sales of $18.30 million for the current quarter, Zacks reports. Four analysts have provided estimates for THL Credit’s earnings, with estimates ranging from $17.43 million to $19.37 million. THL Credit posted sales of $19.80 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 7.6%. The firm is scheduled to issue its next quarterly earnings results on Thursday, May 3rd.
On average, analysts expect that THL Credit will report full-year sales of $18.30 million for the current year, with estimates ranging from $70.00 million to $79.74 million. For the next financial year, analysts expect that the company will post sales of $74.65 million per share, with estimates ranging from $73.00 million to $77.24 million. Zacks’ sales averages are an average based on a survey of research firms that cover THL Credit.
THL Credit (NASDAQ:TCRD) last announced its quarterly earnings data on Tuesday, March 6th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.04). The business had revenue of $18.58 million during the quarter, compared to analyst estimates of $19.58 million. THL Credit had a negative net margin of 10.04% and a positive return on equity of 10.74%.
Shares of THL Credit stock traded down $0.12 during trading hours on Friday, hitting $7.81. The stock had a trading volume of 177,127 shares, compared to its average volume of 145,246. The firm has a market cap of $258.45, a P/E ratio of -32.52, a price-to-earnings-growth ratio of 6.81 and a beta of 1.03. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.16 and a quick ratio of 0.16. THL Credit has a 12 month low of $7.79 and a 12 month high of $10.25.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Tuesday, March 20th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 13.84%. The ex-dividend date of this dividend is Monday, March 19th. THL Credit’s payout ratio is -449.98%.
In related news, insider James R. Fellows acquired 15,000 shares of the firm’s stock in a transaction on Monday, March 12th. The stock was purchased at an average cost of $8.29 per share, with a total value of $124,350.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sam W. Tillinghast sold 37,339 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $8.28, for a total value of $309,166.92. Following the sale, the chief executive officer now directly owns 90,365 shares of the company’s stock, valued at $748,222.20. The disclosure for this sale can be found here. Insiders purchased a total of 17,751 shares of company stock valued at $146,951 over the last ninety days. 9.39% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ increased its holdings in THL Credit by 2.4% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,419,629 shares of the investment management company’s stock worth $13,245,000 after purchasing an additional 33,708 shares in the last quarter. LSV Asset Management increased its holdings in THL Credit by 17.6% during the 4th quarter. LSV Asset Management now owns 685,442 shares of the investment management company’s stock worth $6,203,000 after purchasing an additional 102,498 shares in the last quarter. West Family Investments Inc. increased its holdings in THL Credit by 1.8% during the 4th quarter. West Family Investments Inc. now owns 623,713 shares of the investment management company’s stock worth $5,657,000 after purchasing an additional 11,000 shares in the last quarter. Millennium Management LLC increased its holdings in THL Credit by 303.3% during the 4th quarter. Millennium Management LLC now owns 527,015 shares of the investment management company’s stock worth $4,769,000 after purchasing an additional 396,355 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in THL Credit by 303.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 234,654 shares of the investment management company’s stock worth $2,124,000 after purchasing an additional 176,454 shares in the last quarter. 44.83% of the stock is owned by hedge funds and other institutional investors.
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THL Credit Company Profile
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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