Sixth Street Specialty Lending (NYSE:TSLX) Releases Earnings Results, Beats Estimates By $0.01 EPS

Sixth Street Specialty Lending (NYSE:TSLX) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01, Briefing.com reports. Sixth Street Specialty Lending had a net margin of 47.16% and a return on equity of 13.74%. The firm had revenue of $121.82 million for the quarter, compared to analyst estimates of $120.33 million. During the same quarter in the prior year, the business earned $0.58 earnings per share.

Sixth Street Specialty Lending Price Performance

TSLX stock traded down $0.09 during mid-day trading on Thursday, hitting $20.78. 251,089 shares of the stock were exchanged, compared to its average volume of 375,126. The business has a fifty day moving average price of $21.49 and a 200 day moving average price of $21.39. Sixth Street Specialty Lending has a 12 month low of $19.02 and a 12 month high of $22.35. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 8.38 and a beta of 1.05.

Sixth Street Specialty Lending Cuts Dividend

The business also recently announced a dividend, which was paid on Thursday, June 20th. Investors of record on Monday, June 3rd were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a yield of 7.63%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 74.19%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lowered their target price on shares of Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.67.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.