Oaktree Specialty Lending Co. Declares Quarterly Dividend of $0.40 (NASDAQ:OCSL)

Oaktree Specialty Lending Co. (NASDAQ:OCSL) announced a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Stockholders of record on Monday, March 17th will be paid a dividend of 0.40 per share by the credit services provider on Monday, March 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.14%. The ex-dividend date of this dividend is Monday, March 17th.

Oaktree Specialty Lending has a payout ratio of 95.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Oaktree Specialty Lending to earn $1.96 per share next year, which means the company may not be able to cover its $2.20 annual dividend with an expected future payout ratio of 112.2%.

Oaktree Specialty Lending Price Performance

Shares of NASDAQ OCSL opened at $15.78 on Thursday. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 21.92 and a beta of 1.08. Oaktree Specialty Lending has a 12 month low of $14.89 and a 12 month high of $20.43. The firm’s 50 day simple moving average is $15.62 and its 200-day simple moving average is $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 (NASDAQ:OCSL) last released its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. Oaktree Specialty Lending had a net margin of 15.17% and a return on equity of 11.91%. The firm had revenue of $86.65 million for the quarter, compared to analysts’ expectations of $91.93 million. During the same quarter last year, the company earned $0.57 EPS. The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year. Analysts expect that Oaktree Specialty Lending will post 2.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on OCSL. B. Riley cut shares of Oaktree Specialty Lending from a “neutral” rating to a “sell” rating and set a $15.00 price target on the stock. in a research note on Wednesday, December 11th. Citizens Jmp cut shares of Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Wells Fargo & Company dropped their price target on shares of Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $15.00 price target (down previously from $17.00) on shares of Oaktree Specialty Lending in a research note on Wednesday, November 20th. Finally, StockNews.com raised shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, Oaktree Specialty Lending has a consensus rating of “Hold” and a consensus target price 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.