Oaktree Specialty Lending (NASDAQ:OCSL) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Oaktree Specialty Lending reported quarterly earnings of $0.40 per share, beating expectations by $0.02. Revenue was $76.87 million, slightly above estimates. The company has a net margin of 13.84% and a return on equity of 10.94%. Analysts have mixed ratings, with a consensus rating of "Reduce" and an average price target of $15.00. Institutional investors have adjusted their positions, with significant changes in holdings by Royal Bank of Canada and others.
Oaktree Specialty Lending (NASDAQ:OCSL - Get Free Report) announced its quarterly earnings data on Tuesday. The credit services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02, Zacks reports. Oaktree Specialty Lending had a net margin of 13.84% and a return on equity of 10.94%. The company had revenue of $76.87 million during the quarter, compared to the consensus estimate of $76.51 million. During the same quarter last year, the firm posted $0.45 EPS.
Oaktree Specialty Lending Stock Performance
Shares of OCSL stock opened at $13.33 on Tuesday. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $13.39 and a two-hundred day simple moving average of $13.77. Oaktree Specialty Lending has a 12 month low of $12.44 and a 12 month high of $16.53. The firm has a market capitalization of $1.17 billion, a PE ratio of 23.80 and a beta of 0.65.
Analysts Set New Price Targets
A number of equities research analysts have commented on OCSL shares. Weiss Ratings restated a "sell (d+)" rating on shares of Oaktree Specialty Lending in a report on Thursday. Zacks Research raised shares of Oaktree Specialty Lending from a "strong sell" rating to a "hold" rating in a research report on Thursday, October 9th. Eight analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Oaktree Specialty Lending currently has a consensus rating of "Reduce" and an average price target of $15.00.
Read Our Latest Research Report on Oaktree Specialty Lending
Institutional Investors Weigh In On Oaktree Specialty Lending
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in Oaktree Specialty Lending by 34.3% in the 1st quarter. Royal Bank of Canada now owns 468,879 shares of the credit services provider's stock valued at $7,201,000 after acquiring an additional 119,775 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Oaktree Specialty Lending in the second quarter worth approximately $246,000. Gabelli Funds LLC lifted its holdings in shares of Oaktree Specialty Lending by 3.0% in the second quarter. Gabelli Funds LLC now owns 186,379 shares of the credit services provider's stock valued at $2,546,000 after purchasing an additional 5,467 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Oaktree Specialty Lending by 688.1% in the second quarter. NewEdge Advisors LLC now owns 12,972 shares of the credit services provider's stock valued at $177,000 after purchasing an additional 11,326 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of Oaktree Specialty Lending by 298.9% during the second quarter. Balyasny Asset Management L.P. now owns 626,324 shares of the credit services provider's stock valued at $8,556,000 after buying an additional 469,328 shares during the last quarter. Institutional investors and hedge funds own 36.79% of the company's stock.
About Oaktree Specialty Lending
(Get Free Report)Oaktree Specialty Lending Corporation is a business development company. The fund specializing in investments in middle market, bridge financing, first and second lien debt financing, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity, and management buyouts in small and mid-sized companies.
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