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

Key Points

• Carlyle Secured Lending reported quarterly EPS of $0.36, edging past analyst expectations of $0.35, though revenue of $64.08 million came in below the $65.78 million consensus estimate.
• The stock rose slightly after the report, trading up 0.2% to $11.55, with the company carrying a market cap of about $809.6 million and a dividend yield of 13.9% based on its $0.40 quarterly payout.
• Analysts currently have a mixed but cautious view on CGBD: the stock holds a consensus rating of Hold with an average price target of $12.75, even as some firms recently trimmed their targets.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) announced its quarterly earnings results on Monday. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01, FiscalAI reports. Carlyle Secured Lending had a net margin of 27.38% and a return on equity of 8.56%. The firm had revenue of $64.08 million during the quarter, compared to the consensus estimate of $65.78 million.

Carlyle Secured Lending Stock Up 0.2%

NASDAQ:CGBD traded up $0.03 during mid-day trading on Monday, hitting $11.55. 395,993 shares of the company's stock were exchanged, compared to its average volume of 704,845. Carlyle Secured Lending has a one year low of $10.61 and a one year high of $14.49. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day moving average price of $11.26 and a 200 day moving average price of $12.01. The company has a market cap of $809.60 million, a PE ratio of 11.32 and a beta of 0.66.

Carlyle Secured Lending Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Tuesday, March 31st were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.60 annualized dividend and a yield of 13.9%. Carlyle Secured Lending's payout ratio is presently 156.86%.

Analyst Upgrades and Downgrades

CGBD has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price objective on shares of Carlyle Secured Lending from $14.00 to $13.00 and set an "overweight" rating for the company in a report on Friday, February 27th. JPMorgan Chase & Co. dropped their price objective on shares of Carlyle Secured Lending from $12.00 to $10.00 and set a "neutral" rating for the company in a report on Friday, March 13th. Finally, B. Riley Financial raised shares of Carlyle Secured Lending from a "neutral" rating to a "buy" rating and set a $13.00 price objective for the company in a report on Wednesday, February 25th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $12.75.

Insider Buying and Selling at Carlyle Secured Lending

In other news, Director John G. Nestor sold 4,401 shares of the business's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $11.29, for a total transaction of $49,687.29. Following the completion of the transaction, the director directly owned 5,516 shares of the company's stock, valued at $62,275.64. The trade was a 44.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in shares of Carlyle Secured Lending during the fourth quarter valued at approximately $285,000. Sunbelt Securities Inc. increased its holdings in Carlyle Secured Lending by 3.3% during the fourth quarter. Sunbelt Securities Inc. now owns 34,182 shares of the company's stock valued at $427,000 after buying an additional 1,100 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Carlyle Secured Lending by 3.2% during the fourth quarter. Mackenzie Financial Corp now owns 27,466 shares of the company's stock valued at $348,000 after buying an additional 857 shares during the last quarter. XTX Topco Ltd purchased a new stake in Carlyle Secured Lending during the fourth quarter valued at approximately $1,171,000. Finally, Toronto Dominion Bank purchased a new stake in Carlyle Secured Lending during the fourth quarter valued at approximately $6,245,000. 24.51% of the stock is owned by hedge funds and other institutional investors.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc NASDAQ: CGBD is a closed-end, non-diversified business development company that provides customized debt financing solutions to middle-market companies. Chartered under the Investment Company Act of 1940, the company invests primarily in floating-rate senior secured loans, including first-lien, unitranche and one-stop structures. Its objective is to generate current income and capital appreciation through disciplined credit selection and active portfolio management.

The firm focuses on U.S.

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