Blue Owl Capital Corporation (OBDC) to Issue Quarterly Dividend of $0.31 on July 15th

Blue Owl Capital Corporation (NYSE:OBDC) declared a quarterly dividend on Tuesday, May 5th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.31 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 10.9%. The ex-dividend date is Tuesday, June 30th.

Blue Owl Capital has a payout ratio of 97.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Blue Owl Capital to earn $1.33 per share next year, which means the company may not be able to cover its $1.48 annual dividend with an expected future payout ratio of 111.3%.

Blue Owl Capital Stock Down 2.9%

Shares of OBDC traded down $0.35 during mid-day trading on Thursday, hitting $11.42. 6,021,247 shares of the company’s stock were exchanged, compared to its average volume of 5,775,035. The firm has a fifty day moving average of $11.30 and a two-hundred day moving average of $12.06. Blue Owl Capital has a twelve month low of $10.52 and a twelve month high of $15.19. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 9.21 and a beta of 0.64. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.26.

Blue Owl Capital (NYSE:OBDC) last posted its earnings results on Wednesday, May 6th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.04). Blue Owl Capital had a return on equity of 10.07% and a net margin of 33.89%.The company had revenue of $391.00 million during the quarter, compared to analyst estimates of $422.02 million. On average, sell-side analysts forecast that Blue Owl Capital will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on OBDC shares. Zacks Research upgraded Blue Owl Capital from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. Wall Street Zen upgraded Blue Owl Capital from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Royal Bank Of Canada dropped their price target on Blue Owl Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Keefe, Bruyette & Woods dropped their price target on Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating on the stock in a research report on Thursday, April 16th. Finally, Truist Financial lowered their price target on Blue Owl Capital from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.71.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit?investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first?lien senior secured loans, unitranche facilities, second?lien financings, mezzanine debt, and minority equity co-investments.