Triangle Capital Corporation (TCAP) reported quarterly earnings results on Wednesday, May-4-2016. The company reported $0.29 earnings per share for the quarter, missing the analyst consensus estimate by $-0.11. Analysts had a consensus of $0.40. The company posted revenue of $26.70 million in the period, compared to analysts expectations of $31.16 million. The company’s revenue was down -13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.
Many Wall Street Analysts have commented on Triangle Capital Corporation. Robert W. Baird Downgraded Triangle Capital Corporation on May 2, 2016 to ” Neutral”, Price Target of the shares are set at $20.
Triangle Capital Corporation closed down -1.31 points or -6.16% at $19.94 with 1,98,996 shares getting traded on Monday. Post opening the session at $20.82, the shares hit an intraday low of $19.831 and an intraday high of $21.23 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Mar 23, 2016, C. Robert Jr. Knox (Principal Accounting Officer) sold 3,000 shares at $19.91 per share price. According to the SEC, on Oct 1, 2015, Simon B. Jr. Rich (director) purchased 15,000 shares at $16.17 per share price. On Sep 29, 2015, Sherwood Hubbard Jr. Smith (director) purchased 6,000 shares at $16.04 per share price, according to the Form-4 filing with the securities and exchange commission.
Triangle Capital Corporation is a specialty finance company that provides customized financing to lower middle market companies. The Company’s investment objective is to seek returns by generating current income from its debt investments and capital appreciation from its equity related investments. It invests primarily in subordinated debt securities secured by second lien security interests in portfolio company assets coupled with equity interests. It also invests in senior debt securities secured by first lien security interests in portfolio companies. Its investment portfolio consists of debt and equity instruments of privately held companies for which quoted prices or other inputs falling within the categories of Level 1 and Level 2 are not available. Its target portfolio company has annual revenues between $20.0 million and $200.0 million and annual earnings before interest taxes depreciation and amortization (EBITDA) between $3.0 million and $35.0 million.