Blue Owl Technology Finance Corp. (NYSE:OTF) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts hold a “Moderate Buy” consensus on Blue Owl Technology Finance, with four buy ratings and three holds. The average 12-month price target is $13.60, above the stock’s recent $10.61 price.
• The company reported quarterly EPS of $0.33, beating the $0.31 consensus estimate, on revenue of $338.03 million. However, EPS declined from $0.45 in the same period last year.
• Blue Owl Technology Finance raised its quarterly dividend to $0.35 per share from $0.05, implying an annualized dividend of $1.40 and a yield of approximately 13.2%.

Blue Owl Technology Finance Corp. (NYSE:OTF - Get Free Report) has been given a consensus rating of "Moderate Buy" by the seven analysts that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $13.60.

OTF has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $12.00 price objective on shares of Blue Owl Technology Finance in a research report on Monday, August 17th. Zacks Research upgraded shares of Blue Owl Technology Finance from a "strong sell" rating to a "hold" rating in a research report on Wednesday, June 10th. Citigroup restated an "outperform" rating on shares of Blue Owl Technology Finance in a research note on Friday, August 7th. Finally, Citizens Jmp lifted their target price on shares of Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a "market outperform" rating in a report on Friday, August 7th.

Hedge Funds Weigh In On Blue Owl Technology Finance

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clearstead Advisors LLC purchased a new position in shares of Blue Owl Technology Finance during the 4th quarter worth approximately $124,000. Abel Hall LLC acquired a new position in Blue Owl Technology Finance during the first quarter worth $124,000. Integrity Financial Corp WA acquired a new position in Blue Owl Technology Finance during the second quarter worth $123,000. Keybank National Association OH purchased a new position in Blue Owl Technology Finance in the first quarter worth $148,000. Finally, Americana Partners LLC purchased a new position in Blue Owl Technology Finance in the fourth quarter worth $174,000.

Blue Owl Technology Finance Trading Down 2.3%

Blue Owl Technology Finance stock opened at $10.61 on Friday. Blue Owl Technology Finance has a twelve month low of $9.75 and a twelve month high of $15.54. The stock has a 50 day moving average of $10.81 and a two-hundred day moving average of $11.11. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 13.27 and a beta of -0.73.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. Blue Owl Technology Finance had a return on equity of 7.17% and a net margin of 28.69%.The business had revenue of $338.03 million for the quarter. During the same period in the previous year, the firm posted $0.45 EPS. Equities analysts predict that Blue Owl Technology Finance will post 1.25 earnings per share for the current year.

Blue Owl Technology Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.35 dividend. The ex-dividend date is Wednesday, September 30th. This is an increase from Blue Owl Technology Finance's previous quarterly dividend of $0.05. This represents a $1.40 dividend on an annualized basis and a yield of 13.2%. Blue Owl Technology Finance's payout ratio is 175.00%.

About Blue Owl Technology Finance

Blue Owl Technology Finance Corp. is a business development company that provides financing to technology-focused companies. The company primarily invests in privately held, middle-market businesses through loans and other debt investments, seeking to support companies with established operations, recurring revenue, and growth opportunities.

Its investment portfolio may include senior secured, unitranche, second-lien, and subordinated loans, as well as warrants or other equity-related investments.

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