Oaktree Specialty Lending (NASDAQ:OCSL) Releases Earnings Results, Beats Expectations By $0.03 EPS

Oaktree Specialty Lending (NASDAQ:OCSL) released its earnings results on Wednesday. The credit services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.03, FiscalAI reports. Oaktree Specialty Lending had a return on equity of 10.31% and a net margin of 10.71%.The business had revenue of $74.48 million for the quarter, compared to analyst estimates of $75.72 million. During the same quarter in the prior year, the company posted $0.54 earnings per share.

Oaktree Specialty Lending Stock Performance

OCSL stock traded up $0.44 during midday trading on Wednesday, reaching $12.58. 392,744 shares of the company were exchanged, compared to its average volume of 625,269. Oaktree Specialty Lending has a one year low of $11.94 and a one year high of $16.29. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 32.18 and a beta of 0.52. The business has a 50-day moving average price of $12.98 and a two-hundred day moving average price of $13.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.20 and a quick ratio of 0.20.

Oaktree Specialty Lending Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 12.7%. The ex-dividend date of this dividend was Monday, December 15th. Oaktree Specialty Lending’s payout ratio is 410.26%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its holdings in Oaktree Specialty Lending by 1,025.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,163 shares of the credit services provider’s stock valued at $57,000 after acquiring an additional 3,793 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Oaktree Specialty Lending in the third quarter valued at approximately $97,000. Captrust Financial Advisors bought a new position in shares of Oaktree Specialty Lending during the second quarter worth approximately $149,000. Brevan Howard Capital Management LP acquired a new stake in Oaktree Specialty Lending during the 2nd quarter worth approximately $161,000. Finally, NewEdge Advisors LLC lifted its holdings in Oaktree Specialty Lending by 688.1% during the 2nd quarter. NewEdge Advisors LLC now owns 12,972 shares of the credit services provider’s stock worth $177,000 after purchasing an additional 11,326 shares during the last quarter. Institutional investors and hedge funds own 36.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OCSL shares. Lucid Cap Mkts upgraded Oaktree Specialty Lending to a “hold” rating in a research note on Monday, December 15th. Zacks Research raised shares of Oaktree Specialty Lending from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings upgraded shares of Oaktree Specialty Lending from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 26th. Seven equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.25.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a closed-end, externally managed specialty finance company structured as a business development company (BDC). Launched in 2014, Oaktree Specialty Lending provides customized debt solutions to U.S. middle-market companies, with a focus on senior secured loans, second-lien financings, mezzanine debt and select equity co-investments. The company’s investment strategy centers on floating-rate instruments designed to offer downside protection and income potential in varying interest rate environments.

The firm’s portfolio spans a diverse array of industries, including healthcare, technology, energy, business services and consumer products.