Goldman Sachs BDC (GSBD) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research lowered shares of Goldman Sachs BDC (NYSE:GSBD) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “Goldman Sachs BDC, Inc. is a specialty finance company. The Company invests primarily in telecommunication services, electronic equipment, instruments and components and real estate management and development industries. Goldman Sachs BDC, Inc. is based in NEW YORK, United States. “
Other research analysts have also issued research reports about the company. National Securities restated a buy rating and issued a $23.00 target price on shares of Goldman Sachs BDC in a report on Monday, August 6th. ValuEngine upgraded Goldman Sachs BDC from a sell rating to a hold rating in a report on Friday, July 6th. Finally, Citigroup initiated coverage on Goldman Sachs BDC in a report on Thursday, August 23rd. They issued a neutral rating and a $23.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $23.00.
Goldman Sachs BDC (NYSE:GSBD) last posted its earnings results on Thursday, August 2nd. The financial services provider reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03. Goldman Sachs BDC had a return on equity of 10.19% and a net margin of 46.91%. The company had revenue of $37.20 million for the quarter, compared to analyst estimates of $36.04 million. During the same quarter last year, the company earned $0.64 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. equities research analysts anticipate that Goldman Sachs BDC will post 1.99 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, September 27th. This represents a $1.80 dividend on an annualized basis and a yield of 8.21%. Goldman Sachs BDC’s dividend payout ratio (DPR) is currently 86.96%.
Institutional investors have recently modified their holdings of the stock. Stelac Advisory Services LLC bought a new stake in Goldman Sachs BDC during the second quarter worth $123,000. Great West Life Assurance Co. Can bought a new stake in Goldman Sachs BDC during the first quarter worth $204,000. US Bancorp DE bought a new stake in Goldman Sachs BDC during the second quarter worth $240,000. Cambridge Investment Research Advisors Inc. bought a new stake in Goldman Sachs BDC during the second quarter worth $247,000. Finally, IHT Wealth Management LLC lifted its holdings in Goldman Sachs BDC by 39.6% during the first quarter. IHT Wealth Management LLC now owns 21,089 shares of the financial services provider’s stock worth $401,000 after acquiring an additional 5,981 shares during the period. Institutional investors and hedge funds own 34.27% of the company’s stock.
About Goldman Sachs BDC
Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.
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