Wall Street brokerages predict that Oaktree Specialty Lending Co. (NASDAQ:OCSL) will post $57.51 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Oaktree Specialty Lending’s earnings. The highest sales estimate is $58.25 million and the lowest is $56.78 million. Oaktree Specialty Lending reported sales of $38.20 million in the same quarter last year, which indicates a positive year-over-year growth rate of 50.5%. The firm is expected to issue its next earnings results on Thursday, February 3rd.
On average, analysts expect that Oaktree Specialty Lending will report full year sales of $233.50 million for the current financial year, with estimates ranging from $230.64 million to $236.36 million. For the next financial year, analysts expect that the company will post sales of $241.67 million, with estimates ranging from $239.77 million to $243.57 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Oaktree Specialty Lending.
Oaktree Specialty Lending (NASDAQ:OCSL) last issued its quarterly earnings results on Tuesday, November 16th. The credit services provider reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.01. Oaktree Specialty Lending had a net margin of 113.31% and a return on equity of 8.51%. During the same quarter in the prior year, the firm posted $0.17 earnings per share.
Shares of Oaktree Specialty Lending stock opened at $7.46 on Monday. The company has a 50 day moving average of $7.42 and a 200-day moving average of $7.18. Oaktree Specialty Lending has a 1-year low of $5.47 and a 1-year high of $7.62. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.49. The company has a market cap of $1.35 billion, a PE ratio of 4.91, a price-to-earnings-growth ratio of 0.94 and a beta of 1.40.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 15th were paid a $0.155 dividend. This is an increase from Oaktree Specialty Lending’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, December 14th. This represents a $0.62 annualized dividend and a yield of 8.31%. Oaktree Specialty Lending’s dividend payout ratio is presently 40.79%.
In other news, major shareholder Leonard M. Tannenbaum sold 17,330 shares of the stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $7.45, for a total transaction of $129,108.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Leonard M. Tannenbaum sold 200,000 shares of the stock in a transaction on Wednesday, December 29th. The stock was sold at an average price of $7.52, for a total transaction of $1,504,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 804,703 shares of company stock valued at $6,051,111. 0.19% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. GPS Wealth Strategies Group LLC increased its position in shares of Oaktree Specialty Lending by 241.7% during the third quarter. GPS Wealth Strategies Group LLC now owns 4,100 shares of the credit services provider’s stock worth $29,000 after buying an additional 2,900 shares during the period. Newbridge Financial Services Group Inc. increased its position in shares of Oaktree Specialty Lending by 56.1% during the third quarter. Newbridge Financial Services Group Inc. now owns 4,174 shares of the credit services provider’s stock worth $29,000 after buying an additional 1,500 shares during the period. Tradition Wealth Management LLC acquired a new stake in shares of Oaktree Specialty Lending during the second quarter worth $40,000. CIBC Asset Management Inc acquired a new stake in shares of Oaktree Specialty Lending during the third quarter worth $71,000. Finally, Centiva Capital LP acquired a new stake in shares of Oaktree Specialty Lending during the third quarter worth $79,000. Institutional investors own 68.71% of the company’s stock.
About Oaktree Specialty Lending
Oaktree Specialty Lending Corp. operates as an alternative asset manager that provides financing solutions to private, small and mid-sized growing businesses. While fostering growth is our primary mission, a singular purpose drives all of our pursuits partnering for success.
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