Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Stock Has Average Target Price of $13.62

Key Points

• Analyst consensus is “Hold” across five firms, with an average 12-month price target of $13.62 versus NCDL’s reported $11.01 share price.
• Recent ratings were mixed: UBS upgraded the stock to “Buy,” while Wells Fargo downgraded it to “Underweight”; several firms also lowered their price targets.
• NCDL reported quarterly EPS of $0.41, beating estimates of $0.39, and declared a $0.36 quarterly dividend, equivalent to a 13.1% annualized yield.

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Get Free Report) has received a consensus rating of "Hold" from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $13.62.

Several equities research analysts have recently commented on the company. UBS Group raised Nuveen Churchill Direct Lending from a "neutral" rating to a "buy" rating and lowered their target price for the company from $14.75 to $13.00 in a research note on Tuesday, September 1st. 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 cut 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 report on Friday, June 12th. Keefe, Bruyette & Woods dropped their price objective on Nuveen Churchill Direct Lending from $15.00 to $13.50 and set a "market perform" rating for the company in a report on Monday, August 10th. Finally, Zacks Research upgraded shares of Nuveen Churchill Direct Lending from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st.

Institutional Investors Weigh In On Nuveen Churchill Direct Lending

Institutional investors have recently made changes to their positions in the stock. Closed End Fund Advisors Inc. bought a new stake in shares of Nuveen Churchill Direct Lending in the 4th quarter valued at about $7,374,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Nuveen Churchill Direct Lending by 2.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 442,680 shares of the company's stock worth $5,498,000 after purchasing an additional 12,646 shares during the period. Centurion Wealth Management LLC acquired a new position in shares of Nuveen Churchill Direct Lending in the 2nd quarter valued at approximately $3,879,000. Bulldog Investors LLP increased its stake in Nuveen Churchill Direct Lending by 29.6% during the 1st quarter. Bulldog Investors LLP now owns 224,822 shares of the company's stock worth $2,860,000 after purchasing an additional 51,410 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in Nuveen Churchill Direct Lending by 454.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 150,476 shares of the company's stock worth $2,007,000 after buying an additional 123,327 shares during the period.

Nuveen Churchill Direct Lending Price Performance

NCDL opened at $11.01 on Friday. Nuveen Churchill Direct Lending has a one year low of $10.96 and a one year high of $15.07. The company's 50 day simple moving average is $12.23 and its 200-day simple moving average is $12.81. The stock has a market capitalization of $543.80 million, a P/E ratio of 11.59 and a beta of 0.55.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. Nuveen Churchill Direct Lending had a net margin of 24.44% and a return on equity of 9.60%. The business had revenue of $11.14 million during the quarter, compared to analyst estimates of $46.72 million. As a group, analysts anticipate that Nuveen Churchill Direct Lending will post 1.6 EPS for the current year.

Nuveen Churchill Direct Lending Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 27th. Investors of record on Wednesday, September 30th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 13.1%. The ex-dividend date is Wednesday, September 30th. Nuveen Churchill Direct Lending's dividend payout ratio is currently 151.58%.

About Nuveen Churchill Direct Lending

Nuveen Churchill Direct Lending Corp. is a business development company (BDC) that provides financing to privately owned, middle-market companies. The company seeks to generate income primarily through investments in senior secured loans and other debt securities, while also pursuing capital appreciation through selected equity and equity-related investments.

Its portfolio generally consists of direct investments in companies operating across a range of industries, with an emphasis on established businesses that may require financing for acquisitions, recapitalizations, refinancings, growth initiatives, or other corporate purposes.

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