Carlyle Secured Lending (NASDAQ:CGBD) Announces Quarterly Earnings Results

Carlyle Secured Lending (NASDAQ:CGBD) posted its quarterly earnings results on Thursday. The company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36, FiscalAI reports. Carlyle Secured Lending had a net margin of 14.26% and a return on equity of 8.85%. The firm had revenue of $63.20 million during the quarter, compared to the consensus estimate of $63.11 million.

Carlyle Secured Lending Stock Performance

NASDAQ CGBD traded down $0.15 during trading on Thursday, hitting $10.89. 501,381 shares of the company’s stock traded hands, compared to its average volume of 462,617. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $749.34 million, a price-to-earnings ratio of 21.35 and a beta of 0.66. Carlyle Secured Lending has a 12-month low of $9.94 and a 12-month high of $13.28. The business has a 50 day moving average of $10.96 and a 200-day moving average of $11.12.

Analyst Ratings Changes

Several equities analysts have weighed in on CGBD shares. Raymond James Financial set a $11.00 price objective on Carlyle Secured Lending in a research note on Thursday, October 22nd. Wells Fargo & Company downgraded shares of Carlyle Secured Lending from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $12.00 to $11.00 in a report on Tuesday, September 29th. Finally, Zacks Research cut shares of Carlyle Secured Lending from a “strong-buy” rating to a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $11.25.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc (NASDAQ:CGBD) is a business development company that invests in privately held, middle-market companies. Its primary objective is to generate current income and, to a lesser extent, capital appreciation by providing financing to businesses that may have limited access to traditional sources of capital.

The company primarily invests in first-lien senior secured loans, while also pursuing opportunities in second-lien loans, subordinated debt and equity investments.