Oaktree Specialty Lending (NASDAQ:OCSL) Posts Earnings Results, Misses Expectations By $0.02 EPS

Oaktree Specialty Lending (NASDAQ:OCSL) announced its quarterly earnings data on Thursday. The credit services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02), reports. The business had revenue of $94.97 million during the quarter, compared to analysts’ expectations of $99.35 million. Oaktree Specialty Lending had a net margin of 17.21% and a return on equity of 11.98%.

Oaktree Specialty Lending Trading Down 4.6 %

Shares of OCSL opened at $16.51 on Friday. The stock’s 50-day moving average is $18.73 and its two-hundred day moving average is $19.40. The stock has a market cap of $1.34 billion, a PE ratio of 12.32 and a beta of 1.09. Oaktree Specialty Lending has a 12 month low of $16.46 and a 12 month high of $21.64. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.24 and a quick ratio of 0.24.

Oaktree Specialty Lending Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 13.33%. The ex-dividend date is Monday, September 16th. Oaktree Specialty Lending’s dividend payout ratio is presently 164.18%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in Oaktree Specialty Lending in the first quarter valued at about $624,000. Everpar Advisors LLC bought a new stake in Oaktree Specialty Lending in the fourth quarter valued at about $1,543,000. Van ECK Associates Corp increased its holdings in Oaktree Specialty Lending by 10.8% in the fourth quarter. Van ECK Associates Corp now owns 1,415,358 shares of the credit services provider’s stock valued at $28,902,000 after buying an additional 137,929 shares during the last quarter. Melia Wealth LLC bought a new stake in Oaktree Specialty Lending in the first quarter valued at about $13,168,000. Finally, MRP Capital Investments LLC increased its holdings in Oaktree Specialty Lending by 3.2% in the fourth quarter. MRP Capital Investments LLC now owns 19,733 shares of the credit services provider’s stock valued at $403,000 after buying an additional 616 shares during the last quarter. Institutional investors and hedge funds own 36.79% of the company’s stock.

Wall Street Analysts Forecast Growth

OCSL has been the subject of a number of recent analyst reports. Oppenheimer downgraded Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $20.00 to $18.00 in a research report on Friday. Wells Fargo & Company lowered their price objective on Oaktree Specialty Lending from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday. JPMorgan Chase & Co. lowered their price target on Oaktree Specialty Lending from $20.00 to $18.50 and set an “overweight” rating for the company in a research report on Monday, July 29th. JMP Securities lowered their price target on Oaktree Specialty Lending from $21.00 to $20.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 30th. Finally, B. Riley lowered their price target on Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating for the company in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.79.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corporation is a business development company. The fund specializing in investments in middle market, bridge financing, first and second lien debt financing, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity, and management buyouts in small and mid-sized companies.