Oaktree Specialty Lending (NASDAQ:OCSL) Issues Quarterly Earnings Results

Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) posted its quarterly earnings results on Tuesday. The credit services provider reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.01), Briefing.com reports. Oaktree Specialty Lending had a return on equity of 12.22% and a net margin of 28.81%. The business had revenue of $94.03 million for the quarter, compared to the consensus estimate of $99.66 million. During the same quarter in the previous year, the business posted $0.62 EPS.

Oaktree Specialty Lending Price Performance

OCSL traded up $0.34 during trading on Wednesday, hitting $19.50. 731,775 shares of the stock traded hands, compared to its average volume of 653,937. Oaktree Specialty Lending has a twelve month low of $17.99 and a twelve month high of $21.64. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 12.93 and a beta of 1.06. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.25 and a quick ratio of 0.25. The business has a 50 day moving average price of $19.56 and a 200 day moving average price of $19.96.

Oaktree Specialty Lending Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.55 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.20 annualized dividend and a yield of 11.28%. Oaktree Specialty Lending's dividend payout ratio is currently 145.70%.

Insider Buying and Selling at Oaktree Specialty Lending

In related news, Director Phyllis R. Caldwell purchased 2,000 shares of the stock in a transaction dated Monday, February 12th. The stock was bought at an average cost of $20.07 per share, for a total transaction of $40,140.00. Following the completion of the acquisition, the director now owns 11,166 shares of the company's stock, valued at $224,101.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. B. Riley cut Oaktree Specialty Lending from a "buy" rating to a "neutral" rating and set a $21.00 price objective for the company. in a report on Monday, January 8th. JMP Securities reiterated a "market outperform" rating and issued a $21.00 price target on shares of Oaktree Specialty Lending in a research note on Tuesday, March 26th. Wells Fargo & Company boosted their price target on Oaktree Specialty Lending from $20.00 to $22.00 and gave the company an "overweight" rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods cut Oaktree Specialty Lending from an "outperform" rating to a "market perform" rating and cut their price target for the company from $22.00 to $19.00 in a research note on Friday, February 2nd. Finally, JPMorgan Chase & Co. cut their price target on Oaktree Specialty Lending from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $20.67.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corporation is a business development company. The fund specializing in investments in middle market, bridge financing, first and second lien debt financing, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity, and management buyouts in small and mid-sized companies.