Oaktree Specialty Lending (OCSL) Announces Earnings Results

Oaktree Specialty Lending (NASDAQ:OCSL) issued its quarterly earnings results on Thursday. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01, Bloomberg Earnings reports. The company had revenue of $38.22 million for the quarter, compared to the consensus estimate of $34.14 million. Oaktree Specialty Lending had a return on equity of 7.25% and a net margin of 33.71%.

NASDAQ OCSL opened at $4.76 on Friday. The company has a market capitalization of $669.56 million, a PE ratio of 11.31, a PEG ratio of 5.20 and a beta of 0.26. Oaktree Specialty Lending has a 1-year low of $4.17 and a 1-year high of $5.22. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.47.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 17th will be given a $0.095 dividend. The ex-dividend date is Friday, December 14th. This represents a $0.38 annualized dividend and a dividend yield of 7.98%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 88.37%.

A number of brokerages have issued reports on OCSL. Zacks Investment Research downgraded Oaktree Specialty Lending from a “buy” rating to a “hold” rating in a research report on Saturday, October 13th. BMO Capital Markets raised their target price on Oaktree Specialty Lending from $4.00 to $5.00 and gave the company a “market perform” rating in a research report on Friday, August 10th. National Securities restated a “neutral” rating and issued a $5.00 target price on shares of Oaktree Specialty Lending in a research report on Monday, August 13th. Keefe, Bruyette & Woods upgraded Oaktree Specialty Lending from a “market perform” rating to an “outperform” rating in a research report on Tuesday, August 21st. Finally, JPMorgan Chase & Co. raised their target price on Oaktree Specialty Lending from $5.00 to $5.50 and gave the company an “overweight” rating in a research report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Oaktree Specialty Lending has a consensus rating of “Hold” and an average target price of $5.42.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. River Road Asset Management LLC lifted its position in shares of Oaktree Specialty Lending by 4.0% in the third quarter. River Road Asset Management LLC now owns 6,969,793 shares of the credit services provider’s stock valued at $34,570,000 after acquiring an additional 270,487 shares in the last quarter. Private Management Group Inc. lifted its position in Oaktree Specialty Lending by 4.0% during the second quarter. Private Management Group Inc. now owns 4,710,797 shares of the credit services provider’s stock worth $22,518,000 after buying an additional 181,673 shares in the last quarter. Hilton Capital Management LLC lifted its position in Oaktree Specialty Lending by 24.6% during the third quarter. Hilton Capital Management LLC now owns 3,957,659 shares of the credit services provider’s stock worth $19,630,000 after buying an additional 780,594 shares in the last quarter. Bruni J V & Co. Co. lifted its position in Oaktree Specialty Lending by 10.6% during the second quarter. Bruni J V & Co. Co. now owns 2,171,618 shares of the credit services provider’s stock worth $10,380,000 after buying an additional 208,008 shares in the last quarter. Finally, Muzinich & Co. Inc. lifted its position in Oaktree Specialty Lending by 7.8% during the third quarter. Muzinich & Co. Inc. now owns 1,918,196 shares of the credit services provider’s stock worth $9,514,000 after buying an additional 138,411 shares in the last quarter. Institutional investors and hedge funds own 42.63% of the company’s stock.

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About Oaktree Specialty Lending

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

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Earnings History for Oaktree Specialty Lending (NASDAQ:OCSL)

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