$0.18 EPS expected for Oaktree Specialty Lending Co. (NASDAQ:OCSL) this quarter
Analysts predict that Oaktree Specialty Lending Co. (NASDAQ:OCSL – Get a rating) will report earnings of $0.18 per share for the current quarter, according to Zacks Investment Research. Two analysts released earnings estimates for Oaktree Specialty Lending, with the highest EPS estimate at $0.18 and the lowest estimate at $0.17. Oaktree Specialty Lending reported earnings of $0.19 per share in the same quarter last year, indicating a negative 5.3% year-over-year growth rate. The company is expected to announce its next earnings report on Monday, January 1.
According to Zacks, analysts expect Oaktree Specialty Lending to report annual earnings of $0.72 per share for the current fiscal year, with EPS estimates ranging from $0.71 to $0.72. For the next fiscal year, analysts expect the company to report earnings of $0.70 per share, with EPS estimates ranging from $0.68 to $0.72. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Oaktree’s specialty lending.
Oaktree Specialty Loans (NASDAQ:OCSL – Get a rating) last released its quarterly earnings data on Thursday, May 5. The credit service provider reported earnings per share (EPS) of $0.18 for the quarter, beating consensus analyst estimates of $0.17 by $0.01. Oaktree Specialty Lending had a net margin of 53.18% and a return on equity of 9.59%. The company posted revenue of $64.30 million in the quarter, versus a consensus estimate of $58.95 million.
Several research analysts have recently weighed in on OCSL shares. Zacks Investment Research moved shares of Oaktree Specialty Lending from a “hold” rating to a “buy” rating and set a target price of $8.25 for the company in a Tuesday, May 10 report. The Hovde Group lowered its target price on shares of Oaktree Specialty Lending to $7.00 in a report on Friday. To finish, StockNews.com began covering Oaktree Specialty Lending stocks in a Thursday, March 31 report. They issued a “maintaining” rating for the company. One research analyst gave the stock a hold rating and three gave the company’s stock a buy rating. Based on data from MarketBeat, the stock currently has a consensus buy rating and a consensus price target of $7.81.
Separately, Chairman Mathew Pendo purchased 18,381 shares of the company in a transaction on Monday, May 9. The shares were acquired at an average price of $7.06 per share, for a total transaction of $129,769.86. Following the purchase, the president now directly owns 103,591 shares of the company, valued at $731,352.46. The purchase was disclosed in a filing with the SEC, accessible via this link. Additionally, director Phyllis R. Caldwell purchased 5,000 shares of the company in a trade on Wednesday, May 11. The stock was purchased at an average price of $7.04 per share, for a total transaction of $35,200.00. Following the purchase, the director now owns 7,700 shares of the company, valued at $54,208. Disclosure of this purchase can be found here. During the last quarter, insiders acquired 25,981 shares of the company worth $184,262. Company insiders own 0.32% of the company’s shares.
Several hedge funds and other institutional investors have recently changed their positions in OCSL. Oaktree Capital Management LP increased its position in Oaktree Specialty Lending shares by 1,526.9% during the third quarter. Oaktree Capital Management LP now owns 4,490,368 shares of the credit service provider valued at $31,701,000 after buying an additional 4,214,368 shares last quarter. Greenwich Investment Management Inc. acquired a new stake in Oaktree Specialty Lending in Q4 for a value of approximately $18,335,000. Invesco Ltd. increased its position in Oaktree Specialty Lending by 911.0% in Q4. Invesco Ltd. now owns 1,870,776 shares of the credit service provider worth $13,956,000 after purchasing an additional 1,685,736 shares during the period. Millennium Management LLC increased its position in Oaktree Specialty Lending by 149.5% in Q3. Millennium Management LLC now owns 2,260,466 shares of the credit service provider worth $15,959,000 after purchasing an additional 1,354,562 shares during the period. Finally, Van ECK Associates Corp raised its position in Oaktree Specialty Lending by 48.4% in the 1st quarter. Van ECK Associates Corp now owns 3,868,924 shares of the credit service provider worth $28,514,000 after purchasing an additional 1,261,296 shares during the period. Hedge funds and other institutional investors hold 65.27% of the company’s shares.
Shares of OCSL Action traded down $0.08 in midday trading on Tuesday, hitting $6.74. 1,967,140 shares of the company were traded, compared to its average volume of 1,143,657. Oaktree Specialty Lending has a 12-month low of $6.57 and a 12-month high of $7.81. The company has a 50-day moving average price of $7.28 and a two-hundred-day moving average price of $7.40. The company has a debt ratio of 0.47, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market capitalization of $1.24 billion, a PE ratio of 8.87 and a beta of 1.31.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30. Shareholders of record on Wednesday, June 15 will receive a dividend of $0.165. The ex-dividend date is Tuesday, June 14. This represents an annualized dividend of $0.66 and a yield of 9.79%. This is a boost from Oaktree Specialty Lending’s previous quarterly dividend of $0.16. Oaktree Specialty Lending’s payout ratio is currently 84.21%.
About Oaktree Specialty Loans (Get a rating)
Oaktree Specialty Lending Corporation is a business development company specializing in middle market investments, bridge financing, first and second lien debt financing, unsecured and mezzanine loans, mezzanine debt, senior and junior secured debt , expansions, sponsor-led acquisitions, preferred stock and management buy-outs in small and medium-sized businesses.
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
Get news and reviews for Oaktree Specialty Lending Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Oaktree Specialty Lending and related companies with MarketBeat.com’s FREE daily newsletter.