Nuveen Churchill Direct Lending (NCDL) to Release Earnings on Thursday

Nuveen Churchill Direct Lending (NYSE:NCDL) is expected to be posting its results before the market opens on Thursday, May 7th. Analysts expect Nuveen Churchill Direct Lending to post earnings of $0.4237 per share and revenue of $47.79 million for the quarter.

Nuveen Churchill Direct Lending (NYSE:NCDL) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Nuveen Churchill Direct Lending had a net margin of 31.57% and a return on equity of 10.48%. The company had revenue of $26.36 million during the quarter, compared to analyst estimates 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

Shares of NYSE NCDL opened at $14.77 on Tuesday. Nuveen Churchill Direct Lending has a twelve month low of $12.43 and a twelve month high of $17.27. The firm has a market cap of $729.35 million, a P/E ratio of 11.27 and a beta of 0.63. The company has a 50 day moving average of $13.50 and a 200 day moving average of $13.84. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.27.

Nuveen Churchill Direct Lending Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, March 31st were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 9.8%. The ex-dividend date was Tuesday, March 31st. Nuveen Churchill Direct Lending’s payout ratio is presently 109.92%.

Insider Buying and Selling at Nuveen Churchill Direct Lending

In related news, insider Jason Strife bought 7,690 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was acquired at an average cost of $13.40 per share, for a total transaction of $103,046.00. Following the purchase, the insider owned 15,737 shares in the company, valued at approximately $210,875.80. This represents a 95.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Joseph Ritchie bought 17,857 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were bought at an average price of $13.71 per share, with a total value of $244,819.47. Following the completion of 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 SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 47,547 shares of company stock worth $635,105. 0.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nuveen Churchill Direct Lending

A number of hedge funds have recently modified their holdings of the business. Virtu Financial LLC grew its position in shares of Nuveen Churchill Direct Lending by 181.2% during the 4th quarter. Virtu Financial LLC now owns 41,725 shares of the company’s stock valued at $557,000 after acquiring an additional 26,885 shares during the period. Invesco Ltd. grew its position in shares of Nuveen Churchill Direct Lending by 2,179.1% during the 4th quarter. Invesco Ltd. now owns 742,296 shares of the company’s stock valued at $9,902,000 after acquiring an additional 709,727 shares during the period. NewEdge Advisors LLC grew its position in shares of Nuveen Churchill Direct Lending by 31.2% during the 4th quarter. NewEdge Advisors LLC now owns 6,073 shares of the company’s stock valued at $81,000 after acquiring an additional 1,443 shares during the period. VARCOV Co. bought a new stake in shares of Nuveen Churchill Direct Lending during the 4th quarter valued at $371,000. Finally, Almitas Capital LLC bought a new stake in shares of Nuveen Churchill Direct Lending during the 4th quarter valued at $936,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Keefe, Bruyette & Woods decreased their price objective on shares of Nuveen Churchill Direct Lending from $16.00 to $15.00 and set a “market perform” rating for the company in a report on Friday, February 27th. Truist Financial decreased their price objective on shares of Nuveen Churchill Direct Lending from $18.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. UBS Group boosted their target price on shares of Nuveen Churchill Direct Lending from $14.75 to $15.50 and gave the company a “neutral” rating in a research note on Monday, April 20th. Finally, Wells Fargo & Company decreased their target price on shares of 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. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.50.

About Nuveen Churchill Direct Lending

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.