Oaktree Specialty Lending (NASDAQ:OCSL) Announces Earnings Results

Oaktree Specialty Lending (NASDAQ:OCSL) announced its quarterly earnings results on Tuesday. The credit services provider reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54, Zacks reports. Oaktree Specialty Lending had a return on equity of 11.91% and a net margin of 15.17%. The firm had revenue of $86.65 million for the quarter, compared to analyst estimates of $91.93 million. During the same period last year, the firm posted $0.57 earnings per share. The business’s revenue for the quarter was down 11.6% on a year-over-year basis.

Oaktree Specialty Lending Stock Down 1.0 %

Shares of OCSL stock traded down $0.16 on Thursday, reaching $15.62. 102,308 shares of the company were exchanged, compared to its average volume of 589,873. Oaktree Specialty Lending has a one year low of $14.89 and a one year high of $20.43. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 21.72 and a beta of 1.08. The company has a 50-day moving average of $15.62 and a 200-day moving average of $16.19. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.19 and a quick ratio of 0.19.

Oaktree Specialty Lending Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.60 annualized dividend and a dividend yield of 10.24%. Oaktree Specialty Lending’s dividend payout ratio is currently 305.56%.

Analyst Ratings Changes

Several research analysts have commented on OCSL shares. Wells Fargo & Company cut their target price on Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Keefe, Bruyette & Woods reduced their target price on Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Wednesday, November 20th. Citizens Jmp lowered shares of Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $15.00 price objective (down from $17.00) on shares of Oaktree Specialty Lending in a research note on Wednesday, November 20th. Finally, JMP Securities downgraded shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.75.

Oaktree Specialty Lending Company Profile

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.