Blue Owl Capital (NYSE:OBDC) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Blue Owl Capital (NYSE:OBDC) announced its quarterly earnings results on Wednesday. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02, FiscalAI reports. The company had revenue of $396.00 million during the quarter, compared to analysts’ expectations of $394.23 million. Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%.During the same period last year, the business earned $0.40 earnings per share.

Blue Owl Capital Price Performance

NYSE:OBDC traded down $0.26 during trading hours on Wednesday, reaching $10.95. 4,522,882 shares of the company were exchanged, compared to its average volume of 3,772,290. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.18. The firm has a market cap of $5.43 billion, a PE ratio of 15.64 and a beta of 0.62. Blue Owl Capital has a twelve month low of $10.52 and a twelve month high of $14.53. The stock’s 50-day moving average is $10.96 and its 200-day moving average is $11.27.

Analyst Ratings Changes

OBDC has been the topic of several recent research reports. Wells Fargo & Company lowered their price objective on Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Lucid Cap Mkts raised shares of Blue Owl Capital to a “strong-buy” rating in a report on Friday, July 24th. Truist Financial decreased their target price on shares of Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Wall Street Zen raised shares of Blue Owl Capital from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Finally, Capital One Financial set a $13.00 price target on shares of Blue Owl Capital in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Institutional Trading of Blue Owl Capital

Institutional investors and hedge funds have recently modified their holdings of the stock. Invesco Ltd. lifted its stake in Blue Owl Capital by 243.4% in the 4th quarter. Invesco Ltd. now owns 1,054,030 shares of the company’s stock valued at $13,102,000 after buying an additional 747,051 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Blue Owl Capital by 251.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 255,739 shares of the company’s stock worth $3,179,000 after buying an additional 183,056 shares during the last quarter. Papamarkou Wellner Asset Management inc. purchased a new stake in Blue Owl Capital during the 4th quarter worth approximately $124,000. EP Wealth Advisors LLC purchased a new stake in Blue Owl Capital during the 4th quarter worth approximately $3,492,000. Finally, NewEdge Advisors LLC raised its holdings in shares of Blue Owl Capital by 16.0% during the fourth quarter. NewEdge Advisors LLC now owns 291,701 shares of the company’s stock valued at $3,626,000 after acquiring an additional 40,341 shares during the last quarter. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit?investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first?lien senior secured loans, unitranche facilities, second?lien financings, mezzanine debt, and minority equity co-investments.