Oaktree Specialty Lending (NASDAQ:OCSL) Issues Earnings Results

Oaktree Specialty Lending (NASDAQ:OCSL) posted 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 company had revenue of $74.48 million during the quarter, compared to analyst estimates of $75.72 million. During the same period in the previous year, the company earned $0.54 EPS.

Oaktree Specialty Lending Stock Up 3.6%

OCSL stock traded up $0.44 during trading hours on Wednesday, reaching $12.58. 392,744 shares of the stock were exchanged, compared to its average volume of 625,269. The firm’s 50-day moving average is $12.98 and its 200-day moving average is $13.35. Oaktree Specialty Lending has a 12 month low of $11.94 and a 12 month high of $16.29. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 32.18 and a beta of 0.52. 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 company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued 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 was Monday, December 15th. Oaktree Specialty Lending’s dividend payout ratio is 410.26%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Oaktree Specialty Lending

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Balyasny Asset Management L.P. grew its stake in shares of Oaktree Specialty Lending by 298.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 626,324 shares of the credit services provider’s stock worth $8,556,000 after acquiring an additional 469,328 shares in the last quarter. Two Sigma Investments LP boosted its holdings in Oaktree Specialty Lending by 221.2% during the third quarter. Two Sigma Investments LP now owns 388,157 shares of the credit services provider’s stock worth $5,065,000 after purchasing an additional 267,318 shares during the last quarter. Invesco Ltd. boosted its holdings in Oaktree Specialty Lending by 25.6% during the third quarter. Invesco Ltd. now owns 886,847 shares of the credit services provider’s stock worth $11,573,000 after purchasing an additional 181,023 shares during the last quarter. Royal Bank of Canada grew its position in Oaktree Specialty Lending by 34.3% in the first quarter. Royal Bank of Canada now owns 468,879 shares of the credit services provider’s stock valued at $7,201,000 after purchasing an additional 119,775 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Oaktree Specialty Lending by 64.9% in the 3rd quarter. Bank of America Corp DE now owns 204,925 shares of the credit services provider’s stock valued at $2,674,000 after buying an additional 80,636 shares during the last quarter. Institutional investors and hedge funds own 36.79% of the company’s stock.

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.