Carlyle Secured Lending (NASDAQ:CGBD) Releases Earnings Results, Meets Estimates

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) announced its quarterly earnings results on Tuesday. The company reported $0.39 earnings per share for the quarter, meeting analysts' consensus estimates of $0.39, Zacks reports. Carlyle Secured Lending had a net margin of 29.71% and a return on equity of 9.85%. The business had revenue of $67.28 million during the quarter, compared to analysts' expectations of $67.53 million.

Carlyle Secured Lending Stock Up 2.0%

CGBD stock traded up $0.27 during midday trading on Friday, reaching $13.93. 541,120 shares of the company were exchanged, compared to its average volume of 457,054. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.55 and a current ratio of 0.73. Carlyle Secured Lending has a 1-year low of $13.12 and a 1-year high of $18.64. The stock's 50-day simple moving average is $13.92 and its 200 day simple moving average is $15.29. The company has a market cap of $709.87 million, a price-to-earnings ratio of 11.61 and a beta of 0.88.

Carlyle Secured Lending Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.60 dividend on an annualized basis and a yield of 11.5%. Carlyle Secured Lending's dividend payout ratio (DPR) is presently 133.33%.

Institutional Trading of Carlyle Secured Lending

A hedge fund recently raised its stake in Carlyle Secured Lending stock. Royal Bank of Canada lifted its holdings in shares of Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Free Report) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 0.54% of Carlyle Secured Lending worth $4,460,000 at the end of the most recent reporting period. 24.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.