Oaktree Specialty Lending (NASDAQ:OCSL) Issues Quarterly Earnings Results, Meets Estimates

Oaktree Specialty Lending (NASDAQ:OCSL) posted its quarterly earnings results on Tuesday. The credit services provider reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54, Zacks reports. Oaktree Specialty Lending had a net margin of 15.17% and a return on equity of 11.91%. The business had revenue of $86.65 million during the quarter, compared to the consensus estimate of $91.93 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was down 11.6% compared to the same quarter last year.

Oaktree Specialty Lending Trading Up 0.8 %

Shares of Oaktree Specialty Lending stock opened at $15.64 on Wednesday. The company has a 50-day moving average of $15.63 and a two-hundred day moving average of $16.19. The stock has a market cap of $1.29 billion, a PE ratio of 21.60 and a beta of 1.08. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.62. Oaktree Specialty Lending has a 12-month low of $14.89 and a 12-month high of $20.43.

Oaktree Specialty Lending Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 14.07%. The ex-dividend date of this dividend was Monday, December 16th. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 305.56%.

Wall Street Analyst Weigh In

OCSL has been the subject of several recent analyst reports. JMP Securities cut Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 19th. Keefe, Bruyette & Woods dropped their price target on Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 20th. Wells Fargo & Company decreased their price objective on Oaktree Specialty Lending from $17.00 to $15.50 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Oppenheimer reiterated a “market perform” rating and issued a $18.00 price target on shares of Oaktree Specialty Lending in a research report on Friday, November 22nd. Finally, B. Riley downgraded shares of Oaktree Specialty Lending from a “neutral” rating to a “sell” rating and set a $15.00 target price for the company. in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.75.

About Oaktree Specialty Lending

Oaktree Specialty Lending Corporation is a business development company. The fund specializing in investments in middle market, bridge financing, first and second lien debt financing, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity, and management buyouts in small and mid-sized companies.