Carlyle Secured Lending (NASDAQ:CGBD) Issues Earnings Results

Carlyle Secured Lending (NASDAQ:CGBD) posted its quarterly earnings results on Thursday. The company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36, FiscalAI reports. Carlyle Secured Lending had a return on equity of 8.85% and a net margin of 14.26%. The firm had revenue of $63.20 million during the quarter, compared to analysts’ expectations of $63.11 million.

Carlyle Secured Lending Stock Up 2.6%

CGBD traded up $0.28 during trading hours on Friday, hitting $11.17. 464,531 shares of the company’s stock were exchanged, compared to its average volume of 599,840. The firm has a 50 day moving average of $10.96 and a 200 day moving average of $11.12. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.20. Carlyle Secured Lending has a 12-month low of $9.94 and a 12-month high of $13.28. The firm has a market cap of $768.61 million, a P/E ratio of 21.90 and a beta of 0.66.

Carlyle Secured Lending Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 19th. Stockholders of record on Thursday, December 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 12.5%. Carlyle Secured Lending’s dividend payout ratio (DPR) is presently 274.51%.

Analysts Set New Price Targets

CGBD has been the topic of a number of recent analyst reports. Zacks Research lowered shares of Carlyle Secured Lending from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Raymond James Financial set a $11.00 price objective on Carlyle Secured Lending in a research report on Thursday, October 22nd. Finally, Wells Fargo & Company lowered shares of Carlyle Secured Lending from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $12.00 to $11.00 in a research report on Tuesday, September 29th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.25.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc (NASDAQ:CGBD) is a business development company that invests in privately held, middle-market companies. Its primary objective is to generate current income and, to a lesser extent, capital appreciation by providing financing to businesses that may have limited access to traditional sources of capital.

The company primarily invests in first-lien senior secured loans, while also pursuing opportunities in second-lien loans, subordinated debt and equity investments.