Oaktree Specialty Lending Co. (NASDAQ:OCSL) Receives Consensus Rating of “Hold” from Brokerages

Oaktree Specialty Lending Co. (NASDAQ:OCSL) has earned an average recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $18.25.

OCSL has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upgraded shares of Oaktree Specialty Lending to a “hold” rating in a report on Friday, August 2nd. Oppenheimer cut shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $20.00 to $18.00 in a research note on Friday, August 2nd. Wells Fargo & Company cut Oaktree Specialty Lending from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $18.00 to $17.00 in a report on Monday, August 26th. 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 research note on Monday, July 29th. Finally, B. Riley cut their target price on Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd.

Oaktree Specialty Lending Stock Up 1.0 %

OCSL opened at $16.09 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.17 and a quick ratio of 0.17. Oaktree Specialty Lending has a 12 month low of $15.56 and a 12 month high of $21.64. The stock’s 50 day moving average price is $17.12 and its 200 day moving average price is $18.54. The stock has a market cap of $1.31 billion, a P/E ratio of 12.01 and a beta of 1.09.

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

Oaktree Specialty Lending Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 13.67%. Oaktree Specialty Lending’s payout ratio is currently 164.18%.

Institutional Investors Weigh In On Oaktree Specialty Lending

A number of institutional investors have recently bought and sold shares of OCSL. SG Americas Securities LLC purchased a new stake in shares of Oaktree Specialty Lending during the first quarter worth $624,000. Harbor Capital Advisors Inc. grew its stake in shares of Oaktree Specialty Lending by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 164,649 shares of the credit services provider’s stock valued at $3,097,000 after buying an additional 120,553 shares in the last quarter. Cetera Advisors LLC grew its stake in shares of Oaktree Specialty Lending by 286.4% in the 1st quarter. Cetera Advisors LLC now owns 50,245 shares of the credit services provider’s stock valued at $988,000 after buying an additional 37,242 shares in the last quarter. Melia Wealth LLC bought a new position in Oaktree Specialty Lending during the first quarter valued at approximately $13,168,000. Finally, Confluence Investment Management LLC lifted its stake in Oaktree Specialty Lending by 220.5% in the second quarter. Confluence Investment Management LLC now owns 120,283 shares of the credit services provider’s stock valued at $2,263,000 after acquiring an additional 82,751 shares during the last quarter. 36.79% of the stock is currently owned by institutional investors and hedge funds.

Oaktree Specialty Lending Company Profile

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.