Oaktree Specialty Lending Corp. (NASDAQ:OCSL) Stock Has Consensus Target Price of $11.83

Key Points

• Analysts maintain a cautious outlook: All six brokerages covering Oaktree Specialty Lending rate the stock “Hold,” with an average 12-month price target of $11.83.
• OCSL shares opened at $11.70 and were reported down 1.1%, while the company’s latest quarterly earnings of $0.37 per share slightly exceeded analyst expectations.
• The quarterly dividend was sharply reduced to $0.03 per share from $0.30, resulting in an annualized dividend of $0.12 and a 1.0% yield; institutional investors own 36.79% of the stock.

Oaktree Specialty Lending Corp. (NASDAQ:OCSL - Get Free Report) has received an average rating of "Hold" from the six brokerages that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $11.83.

Several analysts have commented on the stock. Weiss Ratings raised shares of Oaktree Specialty Lending from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 7th. B. Riley Financial reiterated a "neutral" rating on shares of Oaktree Specialty Lending in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Oaktree Specialty Lending from a "sell" rating to a "hold" rating in a research note on Saturday, September 26th.

Oaktree Specialty Lending Trading Down 1.1%

Shares of NASDAQ:OCSL opened at $11.70 on Wednesday. The company has a market capitalization of $1.03 billion, a PE ratio of 24.38 and a beta of 0.51. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.68. Oaktree Specialty Lending has a 12-month low of $10.63 and a 12-month high of $14.31. The business's fifty day simple moving average is $12.57 and its 200-day simple moving average is $12.16.

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The credit services provider reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. Oaktree Specialty Lending had a return on equity of 9.70% and a net margin of 14.45%.The firm had revenue of $69.15 million during the quarter, compared to analysts' expectations of $69.40 million. As a group, equities research analysts predict that Oaktree Specialty Lending will post 1.51 earnings per share for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.12 annualized dividend and a yield of 1.0%. This is a decrease from Oaktree Specialty Lending's previous quarterly dividend of $0.30. Oaktree Specialty Lending's dividend payout ratio is currently 250.00%.

Institutional Trading of Oaktree Specialty Lending

Institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC lifted its position in Oaktree Specialty Lending by 5.2% during the 2nd quarter. Tidal Investments LLC now owns 37,660 shares of the credit services provider's stock worth $450,000 after acquiring an additional 1,867 shares during the period. NewEdge Advisors LLC increased its position in shares of Oaktree Specialty Lending by 12.2% in the second quarter. NewEdge Advisors LLC now owns 65,078 shares of the credit services provider's stock valued at $777,000 after buying an additional 7,073 shares in the last quarter. Corient Private Wealth LP raised its position in Oaktree Specialty Lending by 87.3% during the second quarter. Corient Private Wealth LP now owns 22,151 shares of the credit services provider's stock worth $264,000 after acquiring an additional 10,324 shares during the period. HB Wealth Management LLC purchased a new stake in shares of Oaktree Specialty Lending during the second quarter worth about $199,000. Finally, Private Management Group Inc. raised its position in shares of Oaktree Specialty Lending by 4.0% during the 2nd quarter. Private Management Group Inc. now owns 3,869,484 shares of the credit services provider's stock worth $46,202,000 after purchasing an additional 147,990 shares during the last quarter. 36.79% of the stock is currently owned by institutional investors and hedge funds.

About Oaktree Specialty Lending

Oaktree Specialty Lending Corporation NASDAQ: OCSL is a business development company that provides financing to middle-market companies. The company invests primarily in privately negotiated loans and other debt instruments, seeking to support businesses that may have limited access to traditional bank financing.

Its investment portfolio generally includes first-lien and second-lien loans, unitranche facilities, subordinated debt and, to a lesser extent, equity investments. Oaktree Specialty Lending works with companies across a range of industries and may provide capital for acquisitions, recapitalizations, growth initiatives, refinancing and other general corporate purposes.

The company is externally managed by Oaktree Capital Management, a global investment firm.

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