Carlyle Secured Lending (NASDAQ:CGBD) Announces Earnings Results

Carlyle Secured Lending (NASDAQ:CGBD) announced its quarterly earnings results on Thursday. The company reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36, FiscalAI reports. The firm had revenue of $63.20 million for the quarter, compared to the consensus estimate of $63.11 million. Carlyle Secured Lending had a return on equity of 8.85% and a net margin of 14.26%.

Carlyle Secured Lending Price Performance

NASDAQ CGBD traded down $0.15 during midday trading on Thursday, hitting $10.89. The company had a trading volume of 501,381 shares, compared to its average volume of 462,617. The firm has a 50-day moving average price of $10.96 and a 200-day moving average price of $11.12. The company has a market capitalization of $749.34 million, a PE ratio of 21.35 and a beta of 0.66. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.20. Carlyle Secured Lending has a twelve month low of $9.94 and a twelve month high of $13.28.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Zacks Research downgraded Carlyle Secured Lending from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Raymond James Financial set a $11.00 price target on Carlyle Secured Lending in a research note on Thursday, October 22nd. Finally, Wells Fargo & Company downgraded Carlyle Secured Lending from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $12.00 to $11.00 in a report on Tuesday, September 29th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $11.25.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc (NASDAQ:CGBD) is a business development company that invests in privately held, middle-market companies. Its primary objective is to generate current income and, to a lesser extent, capital appreciation by providing financing to businesses that may have limited access to traditional sources of capital.

The company primarily invests in first-lien senior secured loans, while also pursuing opportunities in second-lien loans, subordinated debt and equity investments.