Oaktree Specialty Lending Corp. (NASDAQ:OCSL) Receives $11.83 Consensus Target Price from Brokerages

Oaktree Specialty Lending Corp. (NASDAQ:OCSL) has been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $11.8333.

Several research firms have recently weighed in on OCSL. B. Riley Financial restated a “neutral” rating on shares of Oaktree Specialty Lending in a report on Friday, August 7th. Weiss Ratings upgraded shares of Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 7th. Finally, Wall Street Zen downgraded shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Tuesday, August 25th.

Oaktree Specialty Lending Stock Down 1.6%

Shares of OCSL opened at $12.41 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.19 and a current ratio of 0.19. Oaktree Specialty Lending has a 52 week low of $10.63 and a 52 week high of $14.31. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 25.85 and a beta of 0.50. The stock has a fifty day moving average of $12.56 and a 200-day moving average of $12.09.

Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings data on Tuesday, August 4th. The credit services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Oaktree Specialty Lending had a return on equity of 9.70% and a net margin of 14.45%.The business had revenue of $69.15 million for the quarter, compared to analyst estimates of $69.40 million. As a group, sell-side analysts anticipate that Oaktree Specialty Lending will post 1.51 earnings per share for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend 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 presently 250.00%.

Institutional Trading of Oaktree Specialty Lending

Institutional investors have recently modified their holdings of the business. Private Management Group Inc. raised its position in Oaktree Specialty Lending by 4.0% during the 2nd quarter. Private Management Group Inc. now owns 3,869,484 shares of the credit services provider’s stock worth $46,202,000 after purchasing an additional 147,990 shares during the last quarter. Bruni J V & Co. Co. grew its position in shares of Oaktree Specialty Lending by 0.3% in the 4th quarter. Bruni J V & Co. Co. now owns 2,495,710 shares of the credit services provider’s stock valued at $31,795,000 after buying an additional 8,691 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Oaktree Specialty Lending by 28.9% in the second quarter. Van ECK Associates Corp now owns 2,195,651 shares of the credit services provider’s stock valued at $26,216,000 after buying an additional 492,070 shares during the period. Rivernorth Capital Management LLC raised its position in shares of Oaktree Specialty Lending by 1.0% during the first quarter. Rivernorth Capital Management LLC now owns 1,279,906 shares of the credit services provider’s stock worth $14,463,000 after acquiring an additional 12,208 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Oaktree Specialty Lending during the second quarter worth about $8,980,000. Institutional investors own 36.79% of the company’s stock.

About Oaktree Specialty Lending

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.