Zacks Investment Research upgraded shares of Fifth Street Finance Corp. (NASDAQ:OCSL) from a sell rating to a hold rating in a report published on Monday.
According to Zacks, “FIFTH STREET FINANCE CORP. is a specialty finance company that lends to and invests in small and mid-sized companies in connection with an investment by private equity sponsors. Fifth Street Finance Corp.’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments and capital appreciation from its equity investments. “
Other research analysts also recently issued reports about the stock. National Securities reiterated a buy rating and set a $7.00 price objective on shares of Fifth Street Finance Corp. in a research note on Monday, August 14th. Deutsche Bank AG upgraded shares of Fifth Street Finance Corp. from a hold rating to a buy rating and increased their price objective for the company from $4.75 to $6.00 in a research note on Tuesday, July 18th. BidaskClub raised shares of Fifth Street Finance Corp. from a hold rating to a buy rating in a report on Wednesday, October 4th. ValuEngine cut shares of Fifth Street Finance Corp. from a strong-buy rating to a buy rating in a report on Monday, October 2nd. Finally, TheStreet raised shares of Fifth Street Finance Corp. from a d+ rating to a c rating in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $5.75.
Shares of Fifth Street Finance Corp. (OCSL) traded up 1.93% during midday trading on Monday, reaching $5.82. 441,818 shares of the company traded hands. The company has a 50 day moving average of $5.49 and a 200 day moving average of $4.87. Fifth Street Finance Corp. has a 12 month low of $3.90 and a 12 month high of $5.91.
Fifth Street Finance Corp. (NASDAQ:OCSL) last posted its quarterly earnings data on Wednesday, August 9th. The credit services provider reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. Fifth Street Finance Corp. had a negative net margin of 13.48% and a negative return on equity of 2.39%. The firm had revenue of $44.92 million for the quarter, compared to the consensus estimate of $43.35 million. On average, equities research analysts anticipate that Fifth Street Finance Corp. will post $0.56 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.125 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 8.76%. Fifth Street Finance Corp.’s dividend payout ratio (DPR) is -288.46%.
In other Fifth Street Finance Corp. news, CEO Bernard D. Berman sold 20,000 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $5.43, for a total transaction of $108,600.00. Following the sale, the chief executive officer now directly owns 35,968 shares of the company’s stock, valued at $195,306.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.
Fifth Street Finance Corp. Company Profile
Oaktree Specialty Lending Corporation, formerly Fifth Street Finance Corp., is a specialty finance company. The Company is a closed-end, non-diversified management investment company. The Company acts as a business development company (BDC). The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments, and capital appreciation from its equity investments.
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