Carlyle Secured Lending (NASDAQ:CGBD) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Carlyle Secured Lending (NASDAQ:CGBD) had its price target raised by Wells Fargo & Company from $16.00 to $17.00 in a report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Carlyle Secured Lending Price Performance

Shares of CGBD stock opened at $18.30 on Wednesday. The company has a market capitalization of $931.58 million, a P/E ratio of 10.22 and a beta of 1.57. The company’s 50-day simple moving average is $17.85 and its two-hundred day simple moving average is $17.34. Carlyle Secured Lending has a one year low of $14.76 and a one year high of $18.74. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.11 and a quick ratio of 1.11.

Carlyle Secured Lending (NASDAQ:CGBD) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $55.97 million for the quarter, compared to analysts’ expectations of $39.92 million. Carlyle Secured Lending had a return on equity of 12.60% and a net margin of 40.69%. During the same quarter in the prior year, the firm earned $0.52 earnings per share. As a group, equities analysts anticipate that Carlyle Secured Lending will post 1.98 EPS for the current year.

Carlyle Secured Lending Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were issued a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.80 annualized dividend and a dividend yield of 9.84%. Carlyle Secured Lending’s payout ratio is currently 89.39%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. bought a new position in shares of Carlyle Secured Lending during the second quarter valued at approximately $52,000. Kimelman & Baird LLC bought a new stake in Carlyle Secured Lending during the 2nd quarter valued at $35,000. Sanctuary Advisors LLC purchased a new position in shares of Carlyle Secured Lending in the 2nd quarter valued at $385,000. Herbst Group LLC bought a new position in shares of Carlyle Secured Lending in the 3rd quarter worth $2,071,000. Finally, Redhawk Wealth Advisors Inc. lifted its stake in shares of Carlyle Secured Lending by 9.9% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 37,264 shares of the company’s stock worth $632,000 after purchasing an additional 3,355 shares during the last quarter. Hedge funds and other institutional investors own 24.51% of the company’s stock.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector.