Sixth Street Specialty Lending (NYSE:TSLX) Issues Earnings Results

Sixth Street Specialty Lending (NYSE:TSLX) posted its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44, Zacks reports. Sixth Street Specialty Lending had a net margin of 19.81% and a return on equity of 10.94%. The business had revenue of $98.96 million for the quarter, compared to the consensus estimate of $97.59 million.

Sixth Street Specialty Lending Stock Up 1.6%

NYSE TSLX opened at $17.94 on Tuesday. Sixth Street Specialty Lending has a 52 week low of $16.04 and a 52 week high of $22.84. The company has a quick ratio of 9.83, a current ratio of 3.43 and a debt-to-equity ratio of 1.21. The business’s fifty day simple moving average is $17.75 and its 200-day simple moving average is $18.13. The firm has a market cap of $1.72 billion, a PE ratio of 9.84 and a beta of 0.61.

Sixth Street Specialty Lending Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 9.4%. The ex-dividend date is Tuesday, December 15th. Sixth Street Specialty Lending’s payout ratio is currently 200.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TSLX shares. B. Riley Financial reissued a “buy” rating and issued a $19.00 price target (down from $20.00) on shares of Sixth Street Specialty Lending in a research note on Friday. Wall Street Zen upgraded shares of Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Keefe, Bruyette & Woods increased their price objective on shares of Sixth Street Specialty Lending from $18.50 to $19.50 and gave the company an “outperform” rating in a report on Monday, August 10th. Finally, Weiss Ratings lowered shares of Sixth Street Specialty Lending from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.71.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending, Inc is a business development company that provides customized financing to middle-market companies. Its investment strategy focuses on privately negotiated loans and other investments in businesses across a range of industries.

The company’s investments include senior secured first-lien loans, unitranche and second-lien loans, and, in some cases, mezzanine debt and equity. It primarily serves companies in the United States, including both sponsor-backed and non-sponsor-backed businesses.

Founded in 2011 as TPG Specialty Lending, the company adopted its current name after its adviser became part of Sixth Street.