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

Oaktree Specialty Lending (NASDAQ:OCSL) released its quarterly earnings data on Thursday. The credit services provider reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01, Bloomberg Earnings reports. The firm had revenue of $38.22 million during 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%.

OCSL traded up $0.01 on Friday, hitting $4.76. The company had a trading volume of 846,895 shares, compared to its average volume of 289,513. Oaktree Specialty Lending has a 12-month low of $4.17 and a 12-month high of $5.22. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market capitalization of $669.56 million, a PE ratio of 11.07, a price-to-earnings-growth ratio of 5.20 and a beta of 0.26.

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

Several analysts recently weighed in on OCSL shares. Keefe, Bruyette & Woods set a $6.00 price objective on Oaktree Specialty Lending and gave the company a “hold” rating in a report on Wednesday, August 8th. BMO Capital Markets lifted their price objective on Oaktree Specialty Lending from $4.00 to $5.00 and gave the company a “market perform” rating in a report on Friday, August 10th. JPMorgan Chase & Co. lifted their price objective on Oaktree Specialty Lending from $5.00 to $5.50 and gave the company an “overweight” rating in a report on Friday, August 10th. Zacks Investment Research upgraded Oaktree Specialty Lending from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a report on Saturday, August 11th. Finally, National Securities restated a “neutral” rating and issued a $5.00 price objective on shares of Oaktree Specialty Lending in a report on Monday, August 13th. One equities research 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. The company currently has a consensus rating of “Hold” and a consensus price target of $5.42.

A number of institutional investors and hedge funds have recently bought and sold shares of OCSL. Bank of New York Mellon Corp grew its stake in Oaktree Specialty Lending by 572.9% in the second quarter. Bank of New York Mellon Corp now owns 99,287 shares of the credit services provider’s stock valued at $474,000 after purchasing an additional 84,532 shares during the last quarter. Monarch Partners Asset Management LLC grew its stake in Oaktree Specialty Lending by 13.3% in the second 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 last quarter. LSV Asset Management grew its stake in Oaktree Specialty Lending by 4.3% in the second quarter. LSV Asset Management now owns 1,832,719 shares of the credit services provider’s stock valued at $8,760,000 after purchasing an additional 76,018 shares during the last quarter. Bruni J V & Co. Co. grew its stake in Oaktree Specialty Lending by 10.6% in the second quarter. Bruni J V & Co. Co. now owns 2,171,618 shares of the credit services provider’s stock valued at $10,380,000 after purchasing an additional 208,008 shares during the last quarter. Finally, West Family Investments Inc. grew its stake in Oaktree Specialty Lending by 42.4% in the second quarter. West Family Investments Inc. now owns 667,875 shares of the credit services provider’s stock valued at $3,192,000 after purchasing an additional 199,026 shares during the last quarter. Institutional investors own 42.63% of the company’s stock.

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Oaktree Specialty Lending Company Profile

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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