Carlyle Secured Lending, Inc. (NASDAQ:CGBD) Given Consensus Rating of “Hold” by Analysts

Shares of Carlyle Secured Lending, Inc. (NASDAQ:CGBD) have been given a consensus rating of “Hold” by the seven analysts that are presently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $12.50.

A number of research analysts have recently issued reports on CGBD shares. B. Riley Financial restated a “buy” rating on shares of Carlyle Secured Lending in a research report on Tuesday, May 12th. Wells Fargo & Company reduced their price objective on Carlyle Secured Lending from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. reduced their target price on Carlyle Secured Lending from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, March 13th.

Carlyle Secured Lending Trading Up 1.7%

Shares of NASDAQ CGBD opened at $10.70 on Thursday. The stock’s 50 day moving average price is $11.01 and its two-hundred day moving average price is $11.54. Carlyle Secured Lending has a 52-week low of $10.48 and a 52-week high of $14.49. The stock has a market capitalization of $743.93 million, a P/E ratio of 15.08 and a beta of 0.62. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.24.

Carlyle Secured Lending (NASDAQ:CGBD) last issued its earnings results on Monday, May 11th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $64.08 million during the quarter, compared to analyst estimates of $65.78 million. Carlyle Secured Lending had a return on equity of 8.99% and a net margin of 19.52%. On average, analysts anticipate that Carlyle Secured Lending will post 1.36 earnings per share for the current fiscal year.

Carlyle Secured Lending Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 13.1%. The ex-dividend date is Tuesday, June 30th. Carlyle Secured Lending’s payout ratio is presently 197.18%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CGBD. Royal Bank of Canada increased its position in shares of Carlyle Secured Lending by 1.9% in the first quarter. Royal Bank of Canada now owns 275,612 shares of the company’s stock worth $4,460,000 after acquiring an additional 5,054 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Carlyle Secured Lending by 71.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company’s stock worth $36,000 after purchasing an additional 1,100 shares during the period. Quantbot Technologies LP purchased a new position in Carlyle Secured Lending during the 2nd quarter worth approximately $146,000. Invesco Ltd. raised its stake in Carlyle Secured Lending by 18.5% during the 2nd quarter. Invesco Ltd. now owns 779,586 shares of the company’s stock valued at $10,665,000 after purchasing an additional 121,686 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of Carlyle Secured Lending in the second quarter valued at $179,000. 24.51% of the stock is currently owned by institutional investors and hedge funds.

About Carlyle Secured Lending

Carlyle Secured Lending, Inc (NASDAQ: CGBD) is a closed-end, non-diversified business development company that provides customized debt financing solutions to middle-market companies. Chartered under the Investment Company Act of 1940, the company invests primarily in floating-rate senior secured loans, including first-lien, unitranche and one-stop structures. Its objective is to generate current income and capital appreciation through disciplined credit selection and active portfolio management.

The firm focuses on U.S.