Oaktree Specialty Lending (NASDAQ:OCSL) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Oaktree Specialty Lending (NASDAQ:OCSL) released its earnings results on Tuesday. The credit services provider reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01), Briefing.com reports. Oaktree Specialty Lending had a return on equity of 12.18% and a net margin of 25.90%. The business had revenue of $94.03 million for the quarter, compared to analysts’ expectations of $99.66 million. During the same quarter last year, the company posted $0.62 earnings per share.

Oaktree Specialty Lending Stock Performance

Oaktree Specialty Lending stock opened at $19.65 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.25 and a quick ratio of 0.25. Oaktree Specialty Lending has a 12 month low of $17.99 and a 12 month high of $21.64. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 14.55 and a beta of 1.06. The stock’s 50-day moving average is $19.55 and its 200-day moving average is $19.95.

Oaktree Specialty Lending Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 11.20%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is 164.18%.

Insider Activity

In related news, Director Phyllis R. Caldwell bought 2,000 shares of the stock in a transaction dated 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 completion of the purchase, the director now owns 11,166 shares in the company, valued at $224,101.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

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

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.