Goldman Sachs BDC, Inc. (GSBD) Rating Lowered to Sell at Zacks Investment Research
Zacks Investment Research cut shares of Goldman Sachs BDC, Inc. (NYSE:GSBD) from a hold rating to a sell rating in a research report released on Tuesday.
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 equities research analysts also recently issued reports about the company. National Securities reiterated a neutral rating and issued a $22.00 target price on shares of Goldman Sachs BDC in a report on Monday, August 7th. BidaskClub upgraded Goldman Sachs BDC from a sell rating to a hold rating in a report on Thursday, August 3rd. Finally, TheStreet upgraded Goldman Sachs BDC from a c rating to a b- rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Goldman Sachs BDC currently has an average rating of Hold and a consensus target price of $22.18.
Goldman Sachs BDC (GSBD) opened at 22.45 on Tuesday. The company has a 50 day moving average price of $22.21 and a 200 day moving average price of $22.84. Goldman Sachs BDC has a 12 month low of $20.00 and a 12 month high of $25.60.
Goldman Sachs BDC (NYSE:GSBD) last issued its earnings results on Thursday, August 3rd. The financial services provider reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.15. The business had revenue of $36.00 million during the quarter, compared to the consensus estimate of $33.66 million. Goldman Sachs BDC had a return on equity of 11.54% and a net margin of 35.73%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share. On average, equities research analysts expect that Goldman Sachs BDC will post $2.07 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a $0.45 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.80 dividend on an annualized basis and a yield of 8.02%. Goldman Sachs BDC’s dividend payout ratio (DPR) is presently 139.54%.
Institutional investors have recently made changes to their positions in the business. IFP Advisors Inc grew its stake in Goldman Sachs BDC by 4.9% in the second quarter. IFP Advisors Inc now owns 4,553 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 211 shares during the period. Global X Management Co. LLC grew its stake in Goldman Sachs BDC by 49.7% in the first quarter. Global X Management Co. LLC now owns 5,698 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 1,892 shares during the period. US Bancorp DE acquired a new stake in Goldman Sachs BDC in the second quarter valued at approximately $142,000. Palisade Capital Management LLC NJ acquired a new stake in Goldman Sachs BDC in the second quarter valued at approximately $203,000. Finally, Creative Planning grew its stake in Goldman Sachs BDC by 102.7% in the second quarter. Creative Planning now owns 9,812 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 4,972 shares during the period. 36.66% of the stock is owned by hedge funds and other institutional investors.
About Goldman Sachs BDC
Goldman Sachs BDC, Inc is a closed-end management investment company. The Company is a specialty finance company, which is focused on lending to middle-market companies. The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien, including first lien, unitranche, including last out portions of such loans, and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments.
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