Oaktree Specialty Lending (NASDAQ:OCSL) Issues Earnings Results

Oaktree Specialty Lending (NASDAQ:OCSL) issued its earnings results on Tuesday. The credit services provider reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01), Briefing.com reports. Oaktree Specialty Lending had a net margin of 28.81% and a return on equity of 12.22%. The company had revenue of $94.03 million during the quarter, compared to analysts’ expectations of $99.66 million. During the same quarter in the previous year, the company earned $0.62 earnings per share.

Oaktree Specialty Lending Stock Up 1.8 %

Shares of NASDAQ OCSL traded up $0.34 during mid-day trading on Wednesday, hitting $19.50. The company had a trading volume of 189,490 shares, compared to its average volume of 646,972. The company has a market capitalization of $1.54 billion, a PE ratio of 12.93 and a beta of 1.06. The business’s 50-day simple moving average is $19.56 and its 200 day simple moving average is $19.96. Oaktree Specialty Lending has a 1-year low of $17.99 and a 1-year high of $21.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.25 and a quick ratio of 0.25.

Oaktree Specialty Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.55 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.20 annualized dividend and a dividend yield of 11.28%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is 145.70%.

Insider Buying and Selling

In related news, Director Phyllis R. Caldwell acquired 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was acquired at an average price of $20.07 per share, for a total transaction of $40,140.00. Following the purchase, the director now owns 11,166 shares of the company’s stock, valued at approximately $224,101.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on OCSL shares. JPMorgan Chase & Co. reduced their target price on shares of Oaktree Specialty Lending from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price objective on shares of Oaktree Specialty Lending in a report on Tuesday, March 26th. B. Riley cut Oaktree Specialty Lending from a “buy” rating to a “neutral” rating and set a $21.00 target price for the company. in a research note on Monday, January 8th. Wells Fargo & Company upped their price target on Oaktree Specialty Lending from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Finally, Keefe, Bruyette & Woods downgraded Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $22.00 to $19.00 in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.67.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corporation is a business development company. The fund specializing in investments in middle market, bridge financing, first and second lien debt financing, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity, and management buyouts in small and mid-sized companies.