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

Oaktree Specialty Lending (NASDAQ:OCSL) released 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 return on equity of 12.22% and a net margin of 28.81%. The business had revenue of $94.03 million for the quarter, compared to analyst estimates of $99.66 million. During the same quarter in the previous year, the firm posted $0.62 EPS.

Oaktree Specialty Lending Price Performance

OCSL stock traded up $0.30 on Wednesday, reaching $19.46. The company had a trading volume of 126,941 shares, compared to its average volume of 646,394. 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 quick ratio of 0.25 and a current ratio of 0.25. The company’s fifty day moving average is $19.58 and its 200 day moving average is $19.96. The company has a market cap of $1.54 billion, a P/E ratio of 12.84 and a beta of 1.06.

Oaktree Specialty Lending Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 11.31%. The ex-dividend date was Thursday, March 14th. Oaktree Specialty Lending’s payout ratio is currently 145.70%.

Insiders Place Their Bets

In other Oaktree Specialty Lending news, Director Phyllis R. Caldwell purchased 2,000 shares of Oaktree Specialty Lending stock in a transaction on Monday, February 12th. The shares were bought at an average price of $20.07 per share, with a total value of $40,140.00. Following the purchase, the director now directly owns 11,166 shares in the company, valued at approximately $224,101.62. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

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

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.