Sixth Street Specialty Lending (NYSE:TSLX) Issues Quarterly Earnings Results, Hits Expectations

Sixth Street Specialty Lending (NYSE:TSLX) released its quarterly earnings data on Tuesday. The financial services provider reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57, Briefing.com reports. Sixth Street Specialty Lending had a net margin of 44.55% and a return on equity of 13.76%. The company had revenue of $119.22 million during the quarter, compared to analysts’ expectations of $119.85 million. During the same quarter in the previous year, the company earned $0.60 earnings per share.

Sixth Street Specialty Lending Price Performance

Shares of NYSE:TSLX traded up $0.09 during midday trading on Wednesday, hitting $20.28. The company’s stock had a trading volume of 610,068 shares, compared to its average volume of 346,935. Sixth Street Specialty Lending has a 12-month low of $19.50 and a 12-month high of $22.35. The company has a market cap of $1.89 billion, a P/E ratio of 8.50 and a beta of 1.06. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.90 and a current ratio of 1.90. The business’s 50 day simple moving average is $20.70 and its 200 day simple moving average is $21.08.

Wall Street Analyst Weigh In

TSLX has been the subject of a number of analyst reports. LADENBURG THALM/SH SH raised Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a report on Wednesday. Wells Fargo & Company cut their price target on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Sixth Street Specialty Lending in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Sixth Street Specialty Lending has an average rating of “Moderate Buy” and a consensus price target of $22.21.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.