Blue Owl Technology Finance Corp. (NYSE:OTF) Stock Has Consensus Price Target of $13.60 According to Analysts

Key Points

• Analysts maintain a moderately bullish view: Blue Owl Technology Finance has a consensus “Moderate Buy” rating from seven analysts, with an average 12-month price target of $13.60 versus the stock’s $9.13 opening price.
• Quarterly earnings exceeded expectations: The company reported EPS of $0.33, topping the $0.31 consensus estimate, on $338.03 million in revenue.
• The dividend was sharply increased: Blue Owl Technology Finance raised its quarterly dividend to $0.35 from $0.05, implying a $1.40 annualized payout and a 15.3% yield, though its payout ratio is reported at 175%.

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

OTF has been the subject of several analyst reports. Citigroup restated an "outperform" rating on shares of Blue Owl Technology Finance in a report on Friday, August 7th. Citizens Jmp lifted their target price on Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a "market outperform" rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $12.00 target price on shares of Blue Owl Technology Finance in a report on Monday, August 17th.

Blue Owl Technology Finance Stock Down 0.1%

Shares of OTF opened at $9.13 on Thursday. The stock has a market capitalization of $4.19 billion, a P/E ratio of 11.42 and a beta of -0.58. Blue Owl Technology Finance has a twelve month low of $9.06 and a twelve month high of $15.00. The company has a 50 day moving average of $10.68 and a 200-day moving average of $10.82.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $338.03 million for the quarter. Blue Owl Technology Finance had a net margin of 28.69% and a return on equity of 7.17%. During the same quarter last year, the business earned $0.45 earnings per share. On average, sell-side analysts anticipate that Blue Owl Technology Finance will post 1.25 earnings per share for the current fiscal year.

Blue Owl Technology Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.35 dividend. This is a boost from Blue Owl Technology Finance's previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 15.3%. Blue Owl Technology Finance's payout ratio is 175.00%.

Institutional Investors Weigh In On Blue Owl Technology Finance

A number of institutional investors and hedge funds have recently modified their holdings of the company. Confluence Investment Management LLC raised its stake in Blue Owl Technology Finance by 239.8% in the 3rd quarter. Confluence Investment Management LLC now owns 105,688 shares of the company's stock valued at $1,037,000 after acquiring an additional 74,588 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Blue Owl Technology Finance during the 2nd quarter worth about $320,000. Pinnacle Wealth Management Advisory Group LLC raised its holdings in Blue Owl Technology Finance by 2.2% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 44,161 shares of the company's stock valued at $457,000 after acquiring an additional 932 shares during the period. Integrated Wealth Concepts LLC raised its holdings in Blue Owl Technology Finance by 206.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 34,870 shares of the company's stock valued at $361,000 after acquiring an additional 23,509 shares during the period. Finally, Paragon Capital Management Ltd bought a new position in Blue Owl Technology Finance in the 2nd quarter valued at about $169,000.

Blue Owl Technology Finance Company Profile

Blue Owl Technology Finance Corp. NYSE: OTF is a business development company focused on providing financing to technology-related businesses. The company invests primarily in privately owned, middle-market companies that may require capital to support growth, acquisitions, recapitalizations, or other corporate activities.

Its investment portfolio generally consists of senior secured loans and other debt investments, with the potential for equity and equity-related investments. Blue Owl Technology Finance seeks to generate current income and, to a lesser extent, capital appreciation by investing across segments of the technology sector, including software, technology services, and other technology-enabled businesses.

The company is externally managed by an affiliate of Blue Owl Capital Inc, an alternative asset management firm.

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