Oaktree Specialty Lending (OCSL) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

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 the Thomson Reuters’ consensus estimate of $0.11 by $0.01, Bloomberg Earnings reports. Oaktree Specialty Lending had a net margin of 33.71% and a return on equity of 7.25%. The company had revenue of $38.22 million during the quarter, compared to analyst estimates of $34.14 million.

NASDAQ:OCSL traded up $0.01 during trading hours on Friday, hitting $4.76. The stock had a trading volume of 846,895 shares, compared to its average volume of 289,513. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.26 and a quick ratio of 0.26. Oaktree Specialty Lending has a one year low of $4.17 and a one year high of $5.22. The company has a market cap of $669.56 million, a price-to-earnings ratio of 11.07, a PEG ratio of 5.20 and a beta of 0.26.

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



A number of large investors have recently made changes to their positions in the business. Laurel Grove Capital LLC boosted its holdings in Oaktree Specialty Lending by 3.1% in the 3rd quarter. Laurel Grove Capital LLC now owns 371,001 shares of the credit services provider’s stock valued at $1,840,000 after purchasing an additional 11,151 shares during the period. Ramsey Quantitative Systems boosted its holdings in Oaktree Specialty Lending by 54.0% in the 3rd quarter. Ramsey Quantitative Systems now owns 32,066 shares of the credit services provider’s stock valued at $159,000 after purchasing an additional 11,250 shares during the period. Gabelli Funds LLC boosted its holdings in Oaktree Specialty Lending by 4.0% in the 3rd quarter. Gabelli Funds LLC now owns 350,341 shares of the credit services provider’s stock valued at $1,738,000 after purchasing an additional 13,332 shares during the period. Lido Advisors LLC boosted its holdings in Oaktree Specialty Lending by 17.2% in the 2nd quarter. Lido Advisors LLC now owns 92,729 shares of the credit services provider’s stock valued at $443,000 after purchasing an additional 13,577 shares during the period. Finally, Monarch Partners Asset Management LLC boosted its holdings in Oaktree Specialty Lending by 13.3% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 123,740 shares of the credit services provider’s stock valued at $591,000 after purchasing an additional 14,520 shares during the period. 42.63% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods upgraded shares of Oaktree Specialty Lending from a “market perform” rating to an “outperform” rating in a research note on Tuesday, August 21st. National Securities reiterated a “neutral” rating and issued a $5.00 price objective on shares of Oaktree Specialty Lending in a research note on Monday, August 13th. JPMorgan Chase & Co. lifted their price objective on shares of Oaktree Specialty Lending from $5.00 to $5.50 and gave the company an “overweight” rating in a research note on Friday, August 10th. Finally, BMO Capital Markets lifted their price objective on shares of Oaktree Specialty Lending from $4.00 to $5.00 and gave the company a “market perform” rating in a research note on Friday, August 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $5.42.

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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.

See Also: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

Earnings History for Oaktree Specialty Lending (NASDAQ:OCSL)

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