Nuveen Churchill Direct Lending (NCDL) Expected to Announce Quarterly Earnings on Thursday

Key Points

• Nuveen Churchill Direct Lending (NCDL) will report quarterly results before the market opens on May 7; analysts expect $0.4196 EPS and $47.79 million in revenue, after the company posted $0.44 EPS and $26.36M revenue in the prior quarter.
• The fund recently paid a quarterly dividend of $0.36 (annualized $1.44) for a 10.2% yield, but the payout ratio is 109.92%, raising concerns about dividend sustainability.
• Analyst sentiment is mixed with an average rating of "Hold" and an average target price of $15.50 (two Buys, four Holds), while insiders have increased positions—buying 47,547 shares over the past 90 days.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) is anticipated to announce its results before the market opens on Thursday, May 7th. Analysts expect the company to announce earnings of $0.4196 per share and revenue of $47.79 million for the quarter.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Nuveen Churchill Direct Lending had a return on equity of 10.48% and a net margin of 31.57%.The business had revenue of $26.36 million during the quarter, compared to analysts' expectations of $49.60 million. On average, analysts expect Nuveen Churchill Direct Lending to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Nuveen Churchill Direct Lending Price Performance

Nuveen Churchill Direct Lending stock opened at $14.12 on Thursday. Nuveen Churchill Direct Lending has a 52 week low of $12.43 and a 52 week high of $17.27. The business has a 50-day simple moving average of $13.48 and a 200 day simple moving average of $13.83. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.27. The stock has a market cap of $697.10 million, a price-to-earnings ratio of 10.77 and a beta of 0.32.

Nuveen Churchill Direct Lending Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, March 31st were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 10.2%. The ex-dividend date was Tuesday, March 31st. Nuveen Churchill Direct Lending's payout ratio is presently 109.92%.

Analyst Upgrades and Downgrades

Several research firms recently commented on NCDL. Truist Financial reduced their target price on Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. Keefe, Bruyette & Woods reduced their target price on Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a "market perform" rating for the company in a research report on Friday, February 27th. Wells Fargo & Company dropped their price target on Nuveen Churchill Direct Lending from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 4th. Wall Street Zen raised Nuveen Churchill Direct Lending from a "sell" rating to a "hold" rating in a research note on Tuesday, March 10th. Finally, UBS Group lifted their price target on Nuveen Churchill Direct Lending from $14.75 to $15.50 and gave the stock a "neutral" rating in a research note on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Nuveen Churchill Direct Lending presently has an average rating of "Hold" and an average target price of $15.50.

Insider Activity

In related news, Director James Joseph Ritchie bought 17,857 shares of the stock in a transaction dated Tuesday, March 10th. The stock was bought at an average price of $13.71 per share, with a total value of $244,819.47. Following the purchase, the director owned 78,193 shares in the company, valued at approximately $1,072,026.03. The trade was a 29.60% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mat Linett bought 2,000 shares of the company's stock in a transaction that occurred on Friday, March 6th. The shares were bought at an average price of $13.05 per share, with a total value of $26,100.00. Following the completion of the acquisition, the director directly owned 10,365 shares in the company, valued at $135,263.25. This trade represents a 23.91% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 47,547 shares of company stock valued at $635,105. 0.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Nuveen Churchill Direct Lending

Several institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its position in Nuveen Churchill Direct Lending by 190.2% during the 3rd 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 bought a new position in Nuveen Churchill Direct Lending during the 3rd quarter valued at approximately $38,000. NewEdge Advisors LLC raised its position in Nuveen Churchill Direct Lending by 33.0% during the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company's stock valued at $73,000 after purchasing an additional 1,118 shares during the last quarter. Quadrant Capital Group LLC bought a new position in Nuveen Churchill Direct Lending during the 3rd quarter valued at approximately $80,000. Finally, State of Wyoming bought a new position in Nuveen Churchill Direct Lending during the 2nd quarter valued at 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.