Sixth Street Specialty Lending (NYSE:TSLX) Announces Earnings Results

Sixth Street Specialty Lending (NYSE:TSLX) released its quarterly earnings data on Thursday. The financial services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04, Zacks reports. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%.

Sixth Street Specialty Lending Stock Performance

TSLX stock opened at $22.47 on Friday. The business has a 50 day moving average of $21.52 and a 200-day moving average of $20.99. The firm has a market cap of $2.10 billion, a PE ratio of 10.91 and a beta of 1.06. Sixth Street Specialty Lending has a 12-month low of $19.50 and a 12-month high of $22.48. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 1.17.

Sixth Street Specialty Lending Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 2nd were given a dividend of $0.05 per share. The ex-dividend date was Friday, November 29th. This represents a dividend yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio is currently 89.32%.

Analyst Upgrades and Downgrades

TSLX has been the topic of a number of analyst reports. LADENBURG THALM/SH SH upgraded shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Wednesday, November 6th. Wells Fargo & Company boosted their price objective on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods dropped their target price on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a research report on Tuesday, November 12th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $22.33.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.