Goldman Sachs BDC (NYSE:GSBD) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Goldman Sachs BDC (NYSE:GSBD) from a buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Goldman Sachs BDC, Inc. is a specialty finance company. The Company invests primarily in telecommunication services, electronic equipment, instruments and components and real estate management and development industries. Goldman Sachs BDC, Inc. is based in NEW YORK, United States. “

GSBD has been the subject of a number of other reports. Raymond James restated an outperform rating and issued a $22.00 target price (down from $23.00) on shares of Goldman Sachs BDC in a report on Monday, May 13th. National Securities restated a buy rating and issued a $22.00 target price on shares of Goldman Sachs BDC in a report on Monday, May 13th. Wells Fargo & Co restated a market perform rating and issued a $20.00 target price (down from $20.50) on shares of Goldman Sachs BDC in a report on Monday, May 13th. Finally, Citigroup lowered their target price on shares of Goldman Sachs BDC from $23.00 to $21.00 and set a neutral rating for the company in a report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $21.40.

Shares of NYSE GSBD opened at $19.87 on Wednesday. The stock has a market capitalization of $791.03 million, a P/E ratio of 9.65, a PEG ratio of 9.90 and a beta of 0.99. Goldman Sachs BDC has a 12 month low of $17.73 and a 12 month high of $22.75. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.22. The business’s 50-day moving average price is $19.87.

Goldman Sachs BDC (NYSE:GSBD) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Goldman Sachs BDC had a net margin of 24.25% and a return on equity of 12.07%. The business had revenue of $38.40 million during the quarter, compared to the consensus estimate of $37.76 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, analysts expect that Goldman Sachs BDC will post 1.98 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.80 dividend on an annualized basis and a yield of 9.06%. Goldman Sachs BDC’s payout ratio is 87.38%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Azimuth Capital Management LLC grew its stake in Goldman Sachs BDC by 86.0% during the first quarter. Azimuth Capital Management LLC now owns 142,995 shares of the financial services provider’s stock worth $2,937,000 after buying an additional 66,135 shares during the period. Legal & General Group Plc grew its stake in Goldman Sachs BDC by 13.7% during the fourth quarter. Legal & General Group Plc now owns 185,581 shares of the financial services provider’s stock worth $3,417,000 after buying an additional 22,375 shares during the period. Wedbush Securities Inc. purchased a new stake in Goldman Sachs BDC during the first quarter worth approximately $204,000. CCG Wealth Management LLC grew its stake in Goldman Sachs BDC by 9.4% during the first quarter. CCG Wealth Management LLC now owns 31,253 shares of the financial services provider’s stock worth $642,000 after buying an additional 2,698 shares during the period. Finally, Northern Oak Wealth Management Inc. grew its stake in Goldman Sachs BDC by 33.0% during the first quarter. Northern Oak Wealth Management Inc. now owns 14,100 shares of the financial services provider’s stock worth $290,000 after buying an additional 3,500 shares during the period. Hedge funds and other institutional investors own 34.88% of the company’s stock.

About Goldman Sachs BDC

Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.

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