Blue Owl Capital (NYSE:OBDC) Issues Quarterly Earnings Results

Blue Owl Capital (NYSE:OBDC) posted its quarterly earnings results on Wednesday. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01, Zacks reports. The business had revenue of $392.06 million for the quarter, compared to analyst estimates of $383.82 million. Blue Owl Capital had a return on equity of 9.49% and a net margin of 16.99%.

Blue Owl Capital Stock Down 1.4%

NYSE OBDC traded down $0.15 on Thursday, reaching $10.61. 3,870,729 shares of the stock traded hands, compared to its average volume of 4,592,782. Blue Owl Capital has a 12 month low of $9.81 and a 12 month high of $13.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.65 and a current ratio of 0.65. The company has a fifty day moving average price of $10.66 and a 200-day moving average price of $11.14. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 18.94 and a beta of 0.66.

Blue Owl Capital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 11.7%. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, December 31st. Blue Owl Capital’s dividend payout ratio is 221.43%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OBDC. Wall Street Zen upgraded shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Capital One Financial set a $13.00 target price on Blue Owl Capital in a report on Friday, July 24th. Raymond James Financial set a $11.00 price objective on Blue Owl Capital in a research note on Thursday, October 22nd. Finally, Lucid Cap Mkts upgraded Blue Owl Capital to a “strong-buy” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Blue Owl Capital presently has an average rating of “Moderate Buy” and a consensus price target of $12.57.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation (NYSE:OBDC) is a business development company focused on providing financing to middle-market companies. The company is externally managed by Blue Owl Credit Advisors LLC, an affiliate of Blue Owl Capital Inc, and seeks to generate income and capital appreciation through investments in privately negotiated transactions.

OBDC primarily invests in senior secured loans, including first-lien and unitranche debt, as well as second-lien loans and, to a lesser extent, equity investments and other securities.