Oaktree Specialty Lending (NASDAQ:OCSL) Announces Quarterly Earnings Results

Oaktree Specialty Lending (NASDAQ:OCSL) posted its quarterly earnings results on Thursday. The credit services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02), reports. Oaktree Specialty Lending had a net margin of 17.21% and a return on equity of 11.98%. The company had revenue of $94.97 million during the quarter, compared to analyst estimates of $99.35 million.

Oaktree Specialty Lending Stock Down 4.6 %

Shares of NASDAQ OCSL opened at $16.51 on Friday. The company has a market capitalization of $1.34 billion, a P/E ratio of 12.32 and a beta of 1.09. Oaktree Specialty Lending has a 52-week low of $16.46 and a 52-week high of $21.64. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.24 and a current ratio of 0.24. The company’s 50 day moving average price is $18.73 and its 200-day moving average price is $19.40.

Oaktree Specialty Lending Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.55 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 13.33%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 164.18%.

Institutional Trading of Oaktree Specialty Lending

Hedge funds have recently modified their holdings of the stock. Cape Investment Advisory Inc. bought a new stake in shares of Oaktree Specialty Lending in the 4th quarter valued at $39,000. Security National Bank bought a new stake in shares of Oaktree Specialty Lending in the 2nd quarter valued at $42,000. Bfsg LLC bought a new stake in shares of Oaktree Specialty Lending in the 4th quarter valued at $71,000. AdvisorNet Financial Inc increased its stake in shares of Oaktree Specialty Lending by 21.4% in the 4th quarter. AdvisorNet Financial Inc now owns 5,100 shares of the credit services provider’s stock valued at $104,000 after acquiring an additional 900 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Oaktree Specialty Lending during the 1st quarter valued at $142,000. Institutional investors own 36.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OCSL shares. JPMorgan Chase & Co. reduced their price target on shares of Oaktree Specialty Lending from $20.00 to $18.50 and set an “overweight” rating on the stock in a research note on Monday, July 29th. JMP Securities reduced their price target on shares of Oaktree Specialty Lending from $21.00 to $20.00 and set a “market outperform” rating on the stock in a research note on Tuesday, July 30th. Wells Fargo & Company cut their target price on shares of Oaktree Specialty Lending from $19.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday. Oppenheimer downgraded shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $20.00 to $18.00 in a research report on Friday. Finally, B. Riley cut their target price on shares of Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating on the stock in a research report on Friday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Oaktree Specialty Lending currently has an average rating of “Hold” and an average price target of $18.79.

About Oaktree Specialty Lending

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.