Oaktree Specialty Lending Co. (OCSL) To Go Ex-Dividend on June 14th

Oaktree Specialty Lending Co. (NASDAQ:OCSL) declared a quarterly dividend on Tuesday, April 30th, Zacks reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.55 per share by the credit services provider on Friday, June 28th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 11.37%. The ex-dividend date of this dividend is Friday, June 14th.

Oaktree Specialty Lending has increased its dividend by an average of 21.9% annually over the last three years and has raised its dividend every year for the last 4 years. Oaktree Specialty Lending has a dividend payout ratio of 96.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Oaktree Specialty Lending to earn $2.30 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 95.7%.

Oaktree Specialty Lending Stock Down 0.8 %

Oaktree Specialty Lending stock traded down $0.15 during mid-day trading on Thursday, reaching $19.35. 244,758 shares of the company were exchanged, compared to its average volume of 648,829. The business has a fifty day moving average of $19.55 and a 200 day moving average of $19.95. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.25 and a current ratio of 0.25. The firm has a market cap of $1.53 billion, a P/E ratio of 14.47 and a beta of 1.06. Oaktree Specialty Lending has a 12-month low of $17.99 and a 12-month high of $21.64.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its earnings results on Tuesday, April 30th. The credit services provider reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The firm had revenue of $94.03 million during the quarter, compared to analysts’ expectations of $99.66 million. Oaktree Specialty Lending had a return on equity of 12.18% and a net margin of 25.90%. During the same quarter last year, the business earned $0.62 EPS. Research analysts anticipate that Oaktree Specialty Lending will post 2.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling at Oaktree Specialty Lending

In other Oaktree Specialty Lending news, Director Phyllis R. Caldwell bought 2,000 shares of the stock in a transaction on Monday, February 12th. The shares were purchased at an average cost of $20.07 per share, with a total value of $40,140.00. Following the completion of the transaction, the director now directly owns 11,166 shares of the company’s stock, valued at approximately $224,101.62. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.

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.