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

Carlyle Secured Lending (NASDAQ:CGBD) released its earnings results on Thursday. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03, Zacks reports. Carlyle Secured Lending had a net margin of 14.26% and a return on equity of 8.70%. The firm had revenue of $62.09 million for the quarter, compared to analysts’ expectations of $59.43 million.

Carlyle Secured Lending Stock Performance

Shares of NASDAQ CGBD traded up $0.36 during midday trading on Friday, hitting $11.02. The company’s stock had a trading volume of 842,273 shares, compared to its average volume of 587,955. The firm has a market capitalization of $765.89 million, a price-to-earnings ratio of 7.51 and a beta of 0.62. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.24. The stock has a fifty day moving average price of $10.60 and a 200 day moving average price of $11.17. Carlyle Secured Lending has a one year low of $9.94 and a one year high of $14.03.

Carlyle Secured Lending Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Wednesday, September 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 12.7%. Carlyle Secured Lending’s payout ratio is 197.18%.

Hedge Funds Weigh In On Carlyle Secured Lending

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in Carlyle Secured Lending by 1.9% during the 1st quarter. Royal Bank of Canada now owns 275,612 shares of the company’s stock worth $4,460,000 after purchasing an additional 5,054 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Carlyle Secured Lending by 71.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Carlyle Secured Lending during the second quarter valued at about $146,000. Invesco Ltd. lifted its holdings in shares of Carlyle Secured Lending by 18.5% in the second quarter. Invesco Ltd. now owns 779,586 shares of the company’s stock worth $10,665,000 after buying an additional 121,686 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Carlyle Secured Lending in the second quarter worth about $179,000. 24.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on CGBD. Wells Fargo & Company lowered their price target on shares of Carlyle Secured Lending from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. B. Riley Financial reissued a “buy” rating on shares of Carlyle Secured Lending in a report on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.50.

About Carlyle Secured Lending

Carlyle Secured Lending, Inc (NASDAQ: CGBD) is a closed-end, non-diversified business development company that provides customized debt financing solutions to middle-market companies. Chartered under the Investment Company Act of 1940, the company invests primarily in floating-rate senior secured loans, including first-lien, unitranche and one-stop structures. Its objective is to generate current income and capital appreciation through disciplined credit selection and active portfolio management.

The firm focuses on U.S.