Oaktree Specialty Lending (NASDAQ:OCSL) Releases Earnings Results, Beats Estimates By $0.01 EPS

Oaktree Specialty Lending (NASDAQ:OCSL) posted its quarterly earnings results on Tuesday, August 4th. The credit services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01, Zacks reports. Oaktree Specialty Lending had a return on equity of 9.70% and a net margin of 14.45%.The business had revenue of $69.15 million during the quarter, compared to analysts’ expectations of $69.40 million.

Oaktree Specialty Lending Price Performance

Oaktree Specialty Lending stock traded up $0.04 during midday trading on Thursday, reaching $13.10. 363,629 shares of the company were exchanged, compared to its average volume of 761,437. The firm’s 50-day simple moving average is $12.22 and its 200-day simple moving average is $11.99. Oaktree Specialty Lending has a 1 year low of $10.63 and a 1 year high of $14.31. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 27.30 and a beta of 0.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.19 and a current ratio of 0.19.

Oaktree Specialty Lending Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 15th. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 250.00%.

Analysts Set New Price Targets

Several analysts recently commented on OCSL shares. Oppenheimer set a $13.00 price objective on shares of Oaktree Specialty Lending in a research note on Wednesday, May 6th. Wall Street Zen cut Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Tuesday. B. Riley Financial reiterated a “neutral” rating on shares of Oaktree Specialty Lending in a research report on Friday, August 7th. Finally, Weiss Ratings raised Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 7th. Six research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $11.83.

Institutional Investors Weigh In On Oaktree Specialty Lending

Several hedge funds have recently modified their holdings of the company. Balyasny Asset Management L.P. acquired a new position in Oaktree Specialty Lending during the fourth quarter worth approximately $190,000. Captrust Financial Advisors acquired a new stake in Oaktree Specialty Lending in the fourth quarter valued at approximately $203,000. VPR Management LLC raised its stake in shares of Oaktree Specialty Lending by 88.0% during the fourth quarter. VPR Management LLC now owns 15,494 shares of the credit services provider’s stock valued at $197,000 after purchasing an additional 7,254 shares during the period. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Oaktree Specialty Lending during the fourth quarter worth $180,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Oaktree Specialty Lending in the fourth quarter valued at $208,000. 36.79% of the stock is owned by institutional investors and hedge funds.

About Oaktree Specialty Lending

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.