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Oaktree Specialty Lending Co. (NASDAQ:OCSL) Expected to Post Quarterly Sales of $57.51 Million

Last updated on Tuesday, November 23, 2021 | 2021 MarketBeat

Wall Street brokerages forecast that Oaktree Specialty Lending Co. (NASDAQ:OCSL) will announce sales of $57.51 million for the current quarter, Zacks reports. Two analysts have issued estimates for Oaktree Specialty Lending's earnings, with the highest sales estimate coming in at $58.25 million and the lowest estimate coming in at $56.78 million. Oaktree Specialty Lending posted sales of $38.20 million in the same quarter last year, which suggests a positive year-over-year growth rate of 50.5%. The firm is expected to report its next earnings report on Thursday, February 3rd.

According to Zacks, analysts expect that Oaktree Specialty Lending will report full year sales of $233.50 million for the current financial year, with estimates ranging from $230.64 million to $236.36 million. For the next fiscal year, analysts expect that the company will post sales of $241.67 million, with estimates ranging from $239.77 million to $243.57 million. Zacks Investment Research's sales averages are a mean average based on a survey of analysts that cover Oaktree Specialty Lending.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its earnings results on Tuesday, November 16th. The credit services provider reported $0.16 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.15 by $0.01. Oaktree Specialty Lending had a return on equity of 8.87% and a net margin of 143.41%. During the same quarter in the prior year, the firm posted $0.17 EPS.

A number of research analysts have recently issued reports on OCSL shares. Zacks Investment Research downgraded Oaktree Specialty Lending from a "buy" rating to a "hold" rating in a research note on Thursday, October 7th. JMP Securities boosted their price objective on Oaktree Specialty Lending from $8.00 to $8.50 and gave the company a "market outperform" rating in a research note on Wednesday, November 17th. Finally, TheStreet raised Oaktree Specialty Lending from a "c+" rating to a "b" rating in a research note on Wednesday, August 4th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $7.81.

In other Oaktree Specialty Lending news, major shareholder Leonard M. Tannenbaum sold 100,000 shares of the business's stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $7.51, for a total transaction of $751,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Leonard M. Tannenbaum sold 17,330 shares of the business's stock in a transaction that occurred on Tuesday, November 16th. The stock was sold at an average price of $7.45, for a total value of $129,108.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,379,871 shares of company stock worth $31,163,419. 0.19% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. grew its holdings in shares of Oaktree Specialty Lending by 56.1% in the third quarter. Newbridge Financial Services Group Inc. now owns 4,174 shares of the credit services provider's stock valued at $29,000 after acquiring an additional 1,500 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Oaktree Specialty Lending by 1.7% in the third quarter. Truist Financial Corp now owns 93,873 shares of the credit services provider's stock valued at $662,000 after acquiring an additional 1,536 shares in the last quarter. Confluence Investment Management LLC grew its holdings in shares of Oaktree Specialty Lending by 2.0% in the second quarter. Confluence Investment Management LLC now owns 90,680 shares of the credit services provider's stock valued at $607,000 after acquiring an additional 1,804 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Oaktree Specialty Lending by 2.7% in the second quarter. Stifel Financial Corp now owns 69,102 shares of the credit services provider's stock valued at $462,000 after acquiring an additional 1,841 shares in the last quarter. Finally, Shelton Capital Management grew its holdings in shares of Oaktree Specialty Lending by 5.9% in the second quarter. Shelton Capital Management now owns 39,268 shares of the credit services provider's stock valued at $263,000 after acquiring an additional 2,200 shares in the last quarter. 68.71% of the stock is owned by institutional investors.

Shares of OCSL opened at $7.36 on Tuesday. The company has a market capitalization of $1.33 billion, a PE ratio of 4.04, a PEG ratio of 0.99 and a beta of 1.40. Oaktree Specialty Lending has a 12 month low of $5.38 and a 12 month high of $7.62. The stock's 50-day moving average price is $7.30 and its two-hundred day moving average price is $7.03. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.49.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 31st. Investors of record on Wednesday, December 15th will be paid a dividend of $0.155 per share. This is an increase from Oaktree Specialty Lending's previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 8.42%. The ex-dividend date is Tuesday, December 14th. Oaktree Specialty Lending's dividend payout ratio is 31.87%.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corp. operates as an alternative asset manager that provides financing solutions to private, small and mid-sized growing businesses. While fostering growth is our primary mission, a singular purpose drives all of our pursuits partnering for success.

See Also: What is Cost of Goods Sold (COGS)?

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Earnings History and Estimates for Oaktree Specialty Lending (NASDAQ:OCSL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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