Wall Street analysts expect Oaktree Specialty Lending Co. (NASDAQ:OCSL – Get a rating) to post sales of $58.95 million for the current fiscal quarter, according to Zacks. Two analysts have made earnings estimates for Oaktree Specialty Lending. The highest sales estimate is $60.36 million and the lowest is $57.54 million. Oaktree Specialty Lending posted sales of $41.94 million in the same quarter last year, suggesting a positive growth rate of 40.6% year over year. The company is due to release its next results on Monday, January 1.
On average, analysts expect Oaktree Specialty Lending to record annual sales of $243.45 million for the current year, with estimates ranging from $239.32 million to $247.59 million. dollars. For the next fiscal year, analysts expect the company to record sales of $247.36 million, with estimates ranging from $240.62 million to $254.10 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts who cover Oaktree’s specialty lending.
Oaktree Specialty Lending (NASDAQ:OCSL – Get a rating) last released its quarterly results on Thursday, February 3. The credit service provider reported EPS of $0.17 for the quarter, beating the consensus estimate of $0.16 by $0.01. The company posted revenue of $64.94 million in the quarter, versus analyst estimates of $57.51 million. Oaktree Specialty Lending had a return on equity of 8.82% and a net margin of 89.41%. During the same period last year, the company posted earnings per share of $0.14.
Separately, Zacks Investment Research upgraded shares of Oaktree Specialty Lending from a “hold” rating to a “buy” rating and set a price target of $8.50 for the company in a Wednesday, Feb. 9 research report.
Shares of Oaktree Specialty Lending opened at $7.34 on Friday. Oaktree Specialty Lending has a 1-year low of $6.11 and a 1-year high of $7.81. The stock has a market capitalization of $1.32 billion, a PE ratio of 5.73, a P/E/G ratio of 0.89 and a beta of 1.39. The company has a debt ratio of 0.48, a current ratio of 0.13 and a quick ratio of 0.13. The stock’s fifty-day moving average is $7.44 and its two-hundred-day moving average is $7.39.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 31. Shareholders of record on Tuesday, March 15 will receive a dividend of $0.16. This represents an annualized dividend of $0.64 and a dividend yield of 8.72%. The ex-dividend date is Monday, March 14. This is a boost from Oaktree Specialty Lending’s previous quarterly dividend of $0.16. Oaktree Specialty Lending’s dividend payout ratio (DPR) is 50.00%.
In related news, majority shareholder Leonard M. Tannenbaum sold 200,000 shares of the company in a transaction dated Monday, December 27. The shares were sold at an average price of $7.54, for a total value of $1,508,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Insiders own 0.32% of the shares of the company.
A number of institutional investors have recently increased or reduced their stake in the company. Ares Management LLC increased its stake in shares of Oaktree Specialty Lending by 7.7% during the 4th quarter. Ares Management LLC now owns 5,490,077 shares of the credit service provider worth $40,956,000 after purchasing an additional 393,658 shares during the period. Bruni JV & Co. Co. increased its holdings in Oaktree Specialty Lending by 0.5% during the fourth quarter. Bruni JV & Co. Co. now owns 4,514,890 shares of the credit service provider worth $33,681,000 after purchasing an additional 20,900 shares last quarter. Oaktree Capital Management LP increased its position in Oaktree Specialty Lending by 1,526.9% during the third quarter. Oaktree Capital Management LP now owns 4,490,368 shares of the credit service provider worth $31,701,000 after purchasing an additional 4,214,368 shares during the period. Millennium Management LLC increased its stake in Oaktree Specialty Lending by 27.2% in the fourth quarter. Millennium Management LLC now owns 2,875,374 shares of the credit service provider valued at $21,450,000 after purchasing an additional 614,908 shares last quarter. Finally, CLARET ASSET MANAGEMENT Corp increased its position in Oaktree Specialty Lending shares by 16.1% during the 3rd quarter. CLARET ASSET MANAGEMENT Corp now owns 2,845,675 shares of the credit services provider valued at $20,090,000 after acquiring an additional 393,827 shares during the period. 63.27% of the shares are held by institutional investors.
About Oaktree Specialty Loans (Get a rating)
Oaktree Specialty Lending Corp. operates as an alternative asset manager that provides financing solutions to growing private small and medium enterprises. While fostering growth is our primary mission, a singular purpose guides all of our activities in Partnering for Success.
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