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

Key Points

• Carlyle Secured Lending reported quarterly earnings of $0.39 per share, matching the consensus estimate. The company demonstrated a net margin of 32.72% and a return on equity of 10.49%.
• The stock is currently trading at $13.74, with a market cap of $700.19 million and a P/E ratio of 10.18, while analysts have assigned an average rating of "Hold" with a target price of $15.25.
• Recent actions by analysts include Oppenheimer lowering their target price from $17.00 to $15.00 and Wells Fargo upgrading their rating from "equal weight" to "overweight" with a price target increase.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39, Zacks reports. Carlyle Secured Lending had a net margin of 32.72% and a return on equity of 10.49%.

Carlyle Secured Lending Price Performance

Carlyle Secured Lending stock traded up $0.03 during mid-day trading on Tuesday, reaching $13.74. The company had a trading volume of 545,995 shares, compared to its average volume of 344,195. Carlyle Secured Lending has a fifty-two week low of $13.12 and a fifty-two week high of $18.64. The company has a current ratio of 3.55, a quick ratio of 3.55 and a debt-to-equity ratio of 1.03. The company has a market cap of $700.19 million, a P/E ratio of 10.18 and a beta of 0.88. The business has a fifty day simple moving average of $13.95 and a 200 day simple moving average of $15.37.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CGBD shares. Oppenheimer lowered their target price on shares of Carlyle Secured Lending from $17.00 to $15.00 and set a "market perform" rating on the stock in a report on Thursday, May 8th. B. Riley raised shares of Carlyle Secured Lending to a "hold" rating in a report on Monday, June 16th. Raymond James Financial assumed coverage on shares of Carlyle Secured Lending in a report on Thursday, July 17th. They set a "market perform" rating on the stock. Wells Fargo & Company upgraded shares of Carlyle Secured Lending from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $13.00 to $15.00 in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Carlyle Secured Lending from $17.00 to $14.00 and set an "underweight" rating on the stock in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $15.25.

Hedge Funds Weigh In On Carlyle Secured Lending

A hedge fund recently raised its stake in Carlyle Secured Lending stock. Royal Bank of Canada grew its holdings in shares of Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 275,612 shares of the company's stock after acquiring an additional 5,054 shares during the period. Royal Bank of Canada owned about 0.54% of Carlyle Secured Lending worth $4,460,000 as of its most recent SEC filing. Institutional investors own 24.51% of the company's stock.

About Carlyle Secured Lending

Carlyle Secured Lending, Inc is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector.

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