Oaktree Specialty Lending Co. (NASDAQ:OCSL) Receives $18.25 Consensus PT from Brokerages

Shares of Oaktree Specialty Lending Co. (NASDAQ:OCSL) have been assigned a consensus recommendation of “Hold” from the six research firms that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $18.25.

Several brokerages have commented on OCSL. JMP Securities lowered their price objective on Oaktree Specialty Lending from $21.00 to $20.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 30th. Wells Fargo & Company lowered Oaktree Specialty Lending from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $18.00 to $17.00 in a research report on Monday, August 26th. StockNews.com downgraded Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a report on Monday, August 5th. B. Riley reduced their price objective on Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on Oaktree Specialty Lending from $20.00 to $18.50 and set an “overweight” rating for the company in a report on Monday, July 29th.

Oaktree Specialty Lending Trading Down 2.6 %

Oaktree Specialty Lending stock opened at $16.11 on Friday. Oaktree Specialty Lending has a 52-week low of $15.56 and a 52-week high of $21.64. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.61. The company has a market cap of $1.31 billion, a P/E ratio of 12.02 and a beta of 1.09. The business has a 50-day simple moving average of $17.17 and a two-hundred day simple moving average of $18.57.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings results on Thursday, August 1st. The credit services provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). The firm had revenue of $94.97 million for the quarter, compared to analysts’ expectations of $99.35 million. Oaktree Specialty Lending had a net margin of 17.21% and a return on equity of 12.03%. Analysts predict that Oaktree Specialty Lending will post 2.24 EPS for the current year.

Oaktree Specialty Lending Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.55 per share. The ex-dividend date is Monday, September 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 13.66%. Oaktree Specialty Lending’s dividend payout ratio is currently 164.18%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp boosted its position in shares of Oaktree Specialty Lending by 21.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,885,293 shares of the credit services provider’s stock valued at $35,463,000 after acquiring an additional 327,416 shares during the last quarter. Claret Asset Management Corp lifted its position in Oaktree Specialty Lending by 2.8% in the first quarter. Claret Asset Management Corp now owns 1,191,891 shares of the credit services provider’s stock worth $23,433,000 after buying an additional 32,989 shares during the last quarter. Melia Wealth LLC bought a new stake in Oaktree Specialty Lending in the first quarter worth $13,168,000. TMD Wealth Management LLC lifted its position in Oaktree Specialty Lending by 16.0% in the second quarter. TMD Wealth Management LLC now owns 567,718 shares of the credit services provider’s stock worth $10,679,000 after buying an additional 78,404 shares during the last quarter. Finally, Cercano Management LLC bought a new stake in Oaktree Specialty Lending in the first quarter worth $8,659,000. 36.79% of the stock is currently owned by institutional investors.

About Oaktree Specialty Lending

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.