TPG Specialty Lending, Inc. (NYSE:TSLX) Receives Consensus Rating of “Buy” from Brokerages
Shares of TPG Specialty Lending, Inc. (NYSE:TSLX) have been assigned a consensus rating of “Buy” from the eight ratings firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $19.60.
TSLX has been the subject of several recent research reports. BidaskClub downgraded TPG Specialty Lending from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 20th. Zacks Investment Research upgraded TPG Specialty Lending from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, July 25th. JMP Securities lifted their price objective on TPG Specialty Lending from $21.50 to $22.00 and gave the company an “outperform” rating in a report on Monday, August 7th. National Securities restated a “neutral” rating and issued a $19.00 price objective on shares of TPG Specialty Lending in a report on Monday, August 7th. Finally, SunTrust Banks, Inc. restated a “buy” rating and issued a $22.00 price objective (up from $21.00) on shares of TPG Specialty Lending in a report on Wednesday.
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Institutional investors have recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware increased its position in shares of TPG Specialty Lending by 4.6% in the first quarter. Mckinley Capital Management LLC Delaware now owns 182,119 shares of the financial services provider’s stock worth $3,713,000 after buying an additional 8,022 shares in the last quarter. M&T Bank Corp purchased a new position in shares of TPG Specialty Lending during the first quarter worth approximately $280,000. Oxford Asset Management purchased a new position in shares of TPG Specialty Lending during the first quarter worth approximately $715,000. CIBC World Markets Inc. increased its position in shares of TPG Specialty Lending by 107.4% in the first quarter. CIBC World Markets Inc. now owns 23,681 shares of the financial services provider’s stock worth $483,000 after buying an additional 12,262 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in shares of TPG Specialty Lending during the first quarter worth approximately $201,000. Institutional investors and hedge funds own 64.35% of the company’s stock.
TPG Specialty Lending (NYSE TSLX) traded up 0.33% during mid-day trading on Friday, hitting $21.33. 350,242 shares of the stock were exchanged. The stock has a 50 day moving average of $20.70 and a 200-day moving average of $20.24. TPG Specialty Lending has a 52-week low of $17.00 and a 52-week high of $21.62.
TPG Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.11. The firm had revenue of $58.82 million during the quarter, compared to the consensus estimate of $49.41 million. TPG Specialty Lending had a return on equity of 12.68% and a net margin of 60.77%. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. Equities analysts predict that TPG Specialty Lending will post $1.91 earnings per share for the current fiscal year.
The company also recently announced a special dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This is an increase from TPG Specialty Lending’s previous special dividend of $0.04. This represents a yield of 7.38%. TPG Specialty Lending’s payout ratio is currently 71.89%.
TPG Specialty Lending Company Profile
TPG Specialty Lending, Inc is an externally managed, closed-end, non-diversified management investment company. The Company is a specialty finance company focused on lending to middle-market companies. It seeks to generate current income primarily in the United States-domiciled middle-market companies through direct originations of senior secured loans and originations of mezzanine and unsecured loans and investments in corporate bonds and equity securities.
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