Oaktree Specialty Lending (NASDAQ:OCSL) Issues Earnings Results

Oaktree Specialty Lending (NASDAQ:OCSL) issued its quarterly earnings results on Tuesday. The credit services provider reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01), Briefing.com reports. Oaktree Specialty Lending had a return on equity of 12.22% and a net margin of 28.81%. The business had revenue of $94.03 million during the quarter, compared to analyst estimates of $99.66 million. During the same period in the previous year, the business posted $0.62 earnings per share.

Oaktree Specialty Lending Stock Performance

Shares of OCSL traded up $0.15 during mid-day trading on Wednesday, hitting $19.31. The stock had a trading volume of 27,203 shares, compared to its average volume of 645,463. The company has a market cap of $1.52 billion, a PE ratio of 12.69 and a beta of 1.06. The company’s fifty day simple moving average is $19.58 and its two-hundred day simple moving average is $19.96. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.60. Oaktree Specialty Lending has a fifty-two week low of $17.99 and a fifty-two week high of $21.64.

Oaktree Specialty Lending Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.55 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.20 annualized dividend and a dividend yield of 11.39%. Oaktree Specialty Lending’s payout ratio is 145.70%.

Analyst Ratings Changes

OCSL has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on Oaktree Specialty Lending from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. B. Riley lowered Oaktree Specialty Lending from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research note on Monday, January 8th. Wells Fargo & Company lifted their price objective on Oaktree Specialty Lending from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods lowered Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $22.00 to $19.00 in a research note on Friday, February 2nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $21.00 target price on shares of Oaktree Specialty Lending in a report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.67.

Insider Transactions at Oaktree Specialty Lending

In related news, Director Phyllis R. Caldwell acquired 2,000 shares of Oaktree Specialty Lending stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $20.07 per share, for a total transaction of $40,140.00. Following the transaction, the director now directly owns 11,166 shares of the company’s stock, valued at approximately $224,101.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

About Oaktree Specialty Lending

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.