Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analysts have a “Hold” consensus on Nuveen Churchill Direct Lending, with one sell, two hold and two buy ratings. The average 12-month price target is $13.625, above the stock’s recent $12.49 price.
• NCDL reported quarterly EPS of $0.41, exceeding the $0.39 consensus estimate, while revenue came in at $11.14 million. Analysts expect full-year EPS of approximately $1.60.
• The company declared a quarterly dividend of $0.36 per share, or $1.44 annualized, representing an approximately 11.5% yield; its payout ratio is 151.58%.

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Get Free Report) has been given an average rating of "Hold" by the five ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $13.6250.

Several research firms recently issued reports on NCDL. Wall Street Zen upgraded Nuveen Churchill Direct Lending from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Wells Fargo & Company downgraded Nuveen Churchill Direct Lending from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $13.00 to $12.00 in a research note on Friday, June 12th. Keefe, Bruyette & Woods decreased their price target on Nuveen Churchill Direct Lending from $15.00 to $13.50 and set a "market perform" rating for the company in a research note on Monday, August 10th. Zacks Research raised Nuveen Churchill Direct Lending from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. Finally, UBS Group upgraded Nuveen Churchill Direct Lending from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $14.75 to $13.00 in a research note on Tuesday, September 1st.

Nuveen Churchill Direct Lending Trading Down 0.2%

Nuveen Churchill Direct Lending stock opened at $12.49 on Tuesday. Nuveen Churchill Direct Lending has a 1-year low of $11.97 and a 1-year high of $16.18. The company has a fifty day simple moving average of $12.52 and a 200 day simple moving average of $13.00. The company has a market cap of $616.88 million, a P/E ratio of 13.15 and a beta of 0.52.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $11.14 million for the quarter, compared to analysts' expectations of $46.72 million. Nuveen Churchill Direct Lending had a net margin of 24.44% and a return on equity of 9.60%. On average, equities research analysts forecast that Nuveen Churchill Direct Lending will post 1.6 EPS for the current year.

Nuveen Churchill Direct Lending Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 27th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 11.5%. The ex-dividend date is Wednesday, September 30th. Nuveen Churchill Direct Lending's payout ratio is presently 151.58%.

Institutional Trading of Nuveen Churchill Direct Lending

A number of large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in shares of Nuveen Churchill Direct Lending by 190.2% in the third quarter. BNP Paribas Financial Markets now owns 2,400 shares of the company's stock valued at $33,000 after purchasing an additional 1,573 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Nuveen Churchill Direct Lending in the 3rd quarter valued at approximately $38,000. NewEdge Advisors LLC lifted its holdings in shares of Nuveen Churchill Direct Lending by 33.0% during the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company's stock worth $73,000 after acquiring an additional 1,118 shares during the period. Quadrant Capital Group LLC acquired a new stake in shares of Nuveen Churchill Direct Lending during the 3rd quarter worth approximately $80,000. Finally, State of Wyoming acquired a new stake in shares of Nuveen Churchill Direct Lending during the 2nd quarter worth approximately $108,000.

Nuveen Churchill Direct Lending Company Profile

Nuveen Churchill Direct Lending NYSE: NCDL is a closed-end management investment company that seeks to provide shareholders with attractive risk-adjusted returns through a diversified portfolio of direct lending instruments. Established in early 2022, NCDL focuses on privately negotiated debt investments in middle-market companies, primarily within the United States. The fund offers investors access to a segment of the credit markets that has historically been less correlated with public debt markets, aiming to capture yield premiums associated with private lending.

The fund’s investment strategy centers on senior secured loans, unitranche financings and selectively structured mezzanine debt.

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