Carlyle Secured Lending (NASDAQ:CGBD) Issues Earnings Results, Beats Estimates By $0.03 EPS

Carlyle Secured Lending (NASDAQ:CGBD) released its quarterly earnings results on Thursday. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03, Zacks reports. The firm had revenue of $62.09 million for the quarter, compared to the consensus estimate of $59.43 million. Carlyle Secured Lending had a return on equity of 8.70% and a net margin of 14.26%.

Carlyle Secured Lending Stock Performance

Shares of NASDAQ CGBD traded up $0.36 during mid-day trading on Friday, hitting $11.02. 842,273 shares of the company were exchanged, compared to its average volume of 587,955. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.24. The firm has a market cap of $765.89 million, a price-to-earnings ratio of 21.61 and a beta of 0.62. Carlyle Secured Lending has a 1-year low of $9.94 and a 1-year high of $14.03. The stock has a 50 day simple moving average of $10.60 and a 200-day simple moving average of $11.17.

Carlyle Secured Lending Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 12.7%. The ex-dividend date is Wednesday, September 30th. Carlyle Secured Lending’s dividend payout ratio is 197.18%.

Hedge Funds Weigh In On Carlyle Secured Lending

A number of large investors have recently modified their holdings of the business. Royal Bank of Canada boosted its stake in shares of Carlyle Secured Lending by 1.9% in the first quarter. Royal Bank of Canada now owns 275,612 shares of the company’s stock valued at $4,460,000 after buying an additional 5,054 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Carlyle Secured Lending by 71.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company’s stock valued at $36,000 after acquiring an additional 1,100 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Carlyle Secured Lending during the 2nd quarter worth $146,000. Invesco Ltd. boosted its position in shares of Carlyle Secured Lending by 18.5% during the 2nd quarter. Invesco Ltd. now owns 779,586 shares of the company’s stock worth $10,665,000 after purchasing an additional 121,686 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Carlyle Secured Lending during the 2nd quarter worth $179,000. 24.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CGBD has been the subject of several research analyst reports. B. Riley Financial reissued a “buy” rating on shares of Carlyle Secured Lending in a report on Tuesday, May 12th. Wells Fargo & Company cut their target price on shares of Carlyle Secured Lending from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.50.

About Carlyle Secured Lending

Carlyle Secured Lending, Inc (NASDAQ: CGBD) is a closed-end, non-diversified business development company that provides customized debt financing solutions to middle-market companies. Chartered under the Investment Company Act of 1940, the company invests primarily in floating-rate senior secured loans, including first-lien, unitranche and one-stop structures. Its objective is to generate current income and capital appreciation through disciplined credit selection and active portfolio management.

The firm focuses on U.S.