Zacks: Analysts Anticipate Oaktree Specialty Lending Co. (NASDAQ:OCSL) Will Post Earnings of $0.15 Per Share

Wall Street brokerages predict that Oaktree Specialty Lending Co. (NASDAQ:OCSL) will post $0.15 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Oaktree Specialty Lending’s earnings. Oaktree Specialty Lending posted earnings of $0.17 per share in the same quarter last year, which would suggest a negative year over year growth rate of 11.8%. The firm is expected to issue its next earnings results on Thursday, November 18th.

On average, analysts expect that Oaktree Specialty Lending will report full-year earnings of $0.62 per share for the current year. For the next fiscal year, analysts anticipate that the business will post earnings of $0.63 per share, with EPS estimates ranging from $0.62 to $0.64. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow Oaktree Specialty Lending.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its earnings results on Thursday, August 5th. The credit services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.05. Oaktree Specialty Lending had a net margin of 143.41% and a return on equity of 8.87%. The firm had revenue of $65.44 million during the quarter, compared to the consensus estimate of $50.69 million.

Several equities research analysts have issued reports on OCSL shares. TheStreet upgraded shares of Oaktree Specialty Lending from a “c+” rating to a “b” rating in a research report on Wednesday, August 4th. Zacks Investment Research upgraded shares of Oaktree Specialty Lending from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Tuesday, August 10th. Oppenheimer assumed coverage on shares of Oaktree Specialty Lending in a research report on Wednesday, June 23rd. They set an “outperform” rating and a $7.50 target price for the company. Finally, JMP Securities boosted their price objective on shares of Oaktree Specialty Lending from $7.50 to $8.00 and gave the stock a “market outperform” rating in a report on Monday, August 9th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $7.69.

Shares of Oaktree Specialty Lending stock opened at $7.19 on Friday. Oaktree Specialty Lending has a 1 year low of $4.52 and a 1 year high of $7.40. The firm has a market cap of $1.30 billion, a PE ratio of 3.95, a PEG ratio of 0.98 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.21 and a quick ratio of 0.21. The company has a 50 day simple moving average of $7.11 and a two-hundred day simple moving average of $6.78.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Wednesday, September 15th will be issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 8.07%. This is a positive change from Oaktree Specialty Lending’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, September 14th. Oaktree Specialty Lending’s payout ratio is presently 113.73%.

In other news, major shareholder Leonard M. Tannenbaum sold 4,214,368 shares of the business’s stock in a transaction that occurred on Monday, September 20th. The shares were sold at an average price of $7.10, for a total value of $29,922,012.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

A number of large investors have recently bought and sold shares of OCSL. 1832 Asset Management L.P. increased its position in Oaktree Specialty Lending by 81.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 828,216 shares of the credit services provider’s stock valued at $5,532,000 after purchasing an additional 372,895 shares during the period. Wells Fargo & Company MN increased its position in Oaktree Specialty Lending by 5.9% during the 2nd quarter. Wells Fargo & Company MN now owns 863,022 shares of the credit services provider’s stock valued at $5,774,000 after purchasing an additional 48,385 shares during the period. Bramshill Investments LLC increased its position in Oaktree Specialty Lending by 11.4% during the 2nd quarter. Bramshill Investments LLC now owns 140,822 shares of the credit services provider’s stock valued at $942,000 after purchasing an additional 14,408 shares during the period. Invesco Ltd. increased its position in Oaktree Specialty Lending by 7.4% during the 2nd quarter. Invesco Ltd. now owns 176,698 shares of the credit services provider’s stock valued at $1,182,000 after purchasing an additional 12,110 shares during the period. Finally, Northeast Financial Consultants Inc purchased a new position in Oaktree Specialty Lending during the 2nd quarter valued at $579,000. Institutional investors own 47.20% of the company’s stock.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corp. is a specialty finance company, which engages in the provision of customized, one-stop credit solutions to companies with limited access to public or syndicated capital markets. Its portfolio include first lien, second lien, kemper jv, and equity. The company was founded on February 15, 2007 and is headquartered in Los Angeles, CA with an investment size of $10 m to $100 m and an EBITDA of $25 m to $250 m.

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Earnings History and Estimates for Oaktree Specialty Lending (NASDAQ:OCSL)

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