Wells Fargo & Company Lowers Carlyle Secured Lending (NASDAQ:CGBD) Price Target to $16.00

Carlyle Secured Lending (NASDAQ:CGBD) had its price target reduced by Wells Fargo & Company from $17.00 to $16.00 in a research note issued to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Separately, JPMorgan Chase & Co. lowered shares of Carlyle Secured Lending from a “neutral” rating to an “underweight” rating and set a $17.00 price objective on the stock. in a research note on Monday, July 29th.

Carlyle Secured Lending Trading Down 0.7 %

NASDAQ CGBD opened at $16.47 on Thursday. Carlyle Secured Lending has a 12-month low of $14.14 and a 12-month high of $18.74. The company has a fifty day simple moving average of $17.14 and a two-hundred day simple moving average of $17.39. The company has a current ratio of 1.11, a quick ratio of 1.85 and a debt-to-equity ratio of 0.99. The stock has a market cap of $838.42 million, a P/E ratio of 9.20 and a beta of 1.59.

Carlyle Secured Lending (NASDAQ:CGBD) last released its earnings results on Tuesday, November 5th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Carlyle Secured Lending had a return on equity of 12.60% and a net margin of 40.69%. The firm had revenue of $55.97 million during the quarter, compared to the consensus estimate of $39.92 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. On average, analysts forecast that Carlyle Secured Lending will post 1.96 earnings per share for the current year.

Carlyle Secured Lending Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 10.93%. The ex-dividend date is Tuesday, December 31st. Carlyle Secured Lending’s dividend payout ratio is currently 89.39%.

Institutional Investors Weigh In On Carlyle Secured Lending

Several hedge funds have recently bought and sold shares of CGBD. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Carlyle Secured Lending in the 2nd quarter valued at $312,000. Condor Capital Management raised its position in shares of Carlyle Secured Lending by 16.3% in the second quarter. Condor Capital Management now owns 264,311 shares of the company’s stock worth $4,689,000 after acquiring an additional 36,984 shares during the period. Quadrature Capital Ltd raised its position in shares of Carlyle Secured Lending by 6.6% in the first quarter. Quadrature Capital Ltd now owns 41,039 shares of the company’s stock worth $668,000 after acquiring an additional 2,533 shares during the period. Private Advisor Group LLC purchased a new stake in shares of Carlyle Secured Lending during the 3rd quarter worth about $235,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Carlyle Secured Lending by 2.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 258,774 shares of the company’s stock valued at $4,213,000 after acquiring an additional 6,527 shares during the period. 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.