TPG Specialty Lending, Inc. (TSLX) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of TPG Specialty Lending, Inc. (NYSE:TSLX) from a buy rating to a hold rating in a research note released on Saturday.
According to Zacks, “TPG Specialty Lending, Inc. is a specialty finance company. It is focused on providing fully-underwritten capital solutions to middle market companies. The Company specializes in standalone first-lien loans, standalone second-lien loans, mezzanine loans, unitranche loans. TPG Specialty Lending, Inc. is based in Fort Worth, Texas. “
Several other research firms have also recently issued reports on TSLX. SunTrust Banks, Inc. restated a buy rating and set a $22.00 target price (up previously from $21.00) on shares of TPG Specialty Lending in a research note on Wednesday, August 9th. JMP Securities upped their target price on shares of TPG Specialty Lending from $21.50 to $22.00 and gave the company an outperform rating in a research note on Monday, August 7th. National Securities restated a neutral rating and set a $19.00 target price on shares of TPG Specialty Lending in a research note on Monday, August 7th. Finally, BidaskClub cut shares of TPG Specialty Lending from a strong-buy rating to a buy rating in a research note on Thursday, August 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $21.50.
Shares of TPG Specialty Lending (NYSE TSLX) traded down $0.27 during trading on Friday, reaching $20.35. 157,200 shares of the company were exchanged, compared to its average volume of 165,838. The company has a market cap of $1,225.58, a PE ratio of 10.07, a price-to-earnings-growth ratio of 3.40 and a beta of 0.69. TPG Specialty Lending has a 52 week low of $17.73 and a 52 week high of $21.74. The company has a current ratio of 0.76, a quick ratio of 0.83 and a debt-to-equity ratio of 0.58.
TPG Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.08. The company had revenue of $48.86 million for the quarter, compared to analysts’ expectations of $48.58 million. TPG Specialty Lending had a net margin of 56.43% and a return on equity of 12.63%. During the same quarter in the previous year, the business posted $0.51 EPS. research analysts anticipate that TPG Specialty Lending will post 1.99 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 7.67%. The ex-dividend date of this dividend is Thursday, December 14th. TPG Specialty Lending’s dividend payout ratio (DPR) is presently 79.59%.
Several large investors have recently modified their holdings of the company. Citadel Advisors LLC purchased a new stake in TPG Specialty Lending in the 3rd quarter worth approximately $687,000. Legal & General Group Plc increased its holdings in TPG Specialty Lending by 13.3% in the 3rd quarter. Legal & General Group Plc now owns 173,080 shares of the financial services provider’s stock worth $3,627,000 after acquiring an additional 20,355 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in TPG Specialty Lending in the 3rd quarter worth approximately $811,000. Global X MANAGEMENT CO LLC increased its holdings in TPG Specialty Lending by 37.9% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 9,454 shares of the financial services provider’s stock worth $198,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD increased its holdings in TPG Specialty Lending by 4.5% in the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 363,459 shares of the financial services provider’s stock worth $7,618,000 after acquiring an additional 15,632 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.
About TPG Specialty Lending
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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