Oaktree Specialty Lending (NASDAQ:OCSL) Posts Earnings Results, Beats Estimates By $0.01 EPS

Oaktree Specialty Lending (NASDAQ:OCSL) posted its quarterly earnings data on Tuesday, August 4th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01, Zacks reports. Oaktree Specialty Lending had a return on equity of 9.70% and a net margin of 14.45%.The firm had revenue of $69.15 million during the quarter, compared to analysts’ expectations of $69.40 million.

Oaktree Specialty Lending Price Performance

OCSL traded up $0.01 on Wednesday, hitting $12.39. 278,014 shares of the company’s stock traded hands, compared to its average volume of 739,465. The company’s 50 day simple moving average is $12.52 and its 200-day simple moving average is $12.07. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 25.82 and a beta of 0.50. Oaktree Specialty Lending has a one year low of $10.63 and a one year high of $14.31. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.68.

Oaktree Specialty Lending Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.03 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.12 annualized dividend and a dividend yield of 1.0%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 250.00%.

Analyst Ratings Changes

A number of research analysts recently weighed in on OCSL shares. B. Riley Financial reaffirmed a “neutral” rating on shares of Oaktree Specialty Lending in a research report on Friday, August 7th. Wall Street Zen cut Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Tuesday, August 25th. Finally, Weiss Ratings raised shares of Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 7th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.83.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a business development company that provides financing to middle-market companies. The company seeks to generate current income and capital appreciation by investing in privately negotiated debt and equity securities, with an emphasis on credit opportunities that may be underserved by traditional lenders.

OCSL primarily invests in first-lien and second-lien loans, subordinated debt, and, to a lesser extent, equity investments. Its portfolio companies operate across a range of industries, and the company generally focuses on established businesses in the United States.