Wall Street brokers expect Oaktree Specialty Lending Co. (NASDAQ:OCSL) to report sales of $58.95 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made earnings estimates for Oaktree Specialty Lending, with the highest sales estimate of $60.36 million and the lowest estimate of $57.54 million. Oaktree Specialty Lending recorded sales of $41.94 million in the same quarter last year, indicating a positive growth rate of 40.6% year over year. The company is due to release its next quarterly earnings report on Thursday, May 5.
According to Zacks, analysts expect Oaktree Specialty Lending to report sales of $243.45 million for the current fiscal year, with estimates ranging from $239.32 million to $247.59 million. For the next fiscal year, analysts expect the company to post sales of $247.36 million, with estimates ranging from $240.62 million to $254.10 million. Zacks Investment Research sales averages are an average based on a survey of sell-side analysts who provide coverage for Oaktree Specialty Lending.
Oaktree Specialty Lending (NASDAQ:OCSL) last reported results on Thursday, February 3. The credit service provider reported EPS of $0.17 for the quarter, meeting Thomson Reuters consensus estimate of $0.17. Oaktree Specialty Lending had a net margin of 113.31% and a return on equity of 8.51%. In the same quarter a year earlier, the company posted EPS of $0.14.
OCSL has been the subject of a number of recent research reports. 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 research note on Wednesday. JMP Securities raised its price target on Oaktree Specialty Lending shares from $8.00 to $8.50 and gave the company a “market outperforming” rating in a Wednesday, Nov. 17 research note. Four research analysts rated the stock with a buy rating. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $7.94.
Separately, major shareholder Leonard M. Tannenbaum sold 34,100 shares of the company in a transaction on Monday, December 13. The shares were sold at an average price of $7.55, for a total value of $257,455.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, insider Leonard M. Tannenbaum sold 200,000 shares of the company in a trade on Wednesday, December 29. The stock was sold at an average price of $7.52, for a total transaction of $1,504,000.00. The disclosure of this sale can be found here. Insiders sold a total of 656,530 shares of the company worth $4,938,814 in the past 90 days. Insiders of the company own 0.32% of the shares of the company.
A number of institutional investors have recently bought and sold shares of OCSL. Ares Management LLC increased its stake in shares of Oaktree Specialty Lending by 12.1% during the third quarter. Ares Management LLC now owns 5,096,419 shares of the credit services provider valued at $35,981,000 after acquiring an additional 549,497 shares in the last quarter. Bruni JV & Co. Co. increased its position in shares of 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 valued at $33,681,000 after purchasing an additional 20,900 shares during the period. 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 purchasing an additional 4,214,368 shares during the period. CLARET ASSET MANAGEMENT Corp increased its position in Oaktree Specialty Lending shares by 16.1% during the third quarter. CLARET ASSET MANAGEMENT Corp now owns 2,845,675 shares of the credit services provider valued at $20,090,000 after purchasing an additional 393,827 shares during the period. Finally, Van ECK Associates Corp increased its position in Oaktree Specialty Lending shares by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 2,607,628 shares of the credit services provider valued at $19,453,000 after purchasing an additional 242,381 shares during the period. 58.17% of the shares are held by institutional investors and hedge funds.
NASDAQ:OCSL opened at $7.49 on Friday. Oaktree Specialty Lending has a 12 month minimum of $6.06 and a 12 month maximum of $7.81. The stock has a market capitalization of $1.35 billion, a PE ratio of 4.93, a price-to-growth earnings ratio of 0.93 and a beta of 1.40. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt ratio of 0.49. The company’s 50-day moving average is $7.51 and its 200-day moving average is $7.34.
The company also recently declared 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 per share. This is a positive change from Oaktree Specialty Lending’s previous quarterly dividend of $0.16. This represents a dividend of $0.64 on an annualized basis and a dividend yield of 8.54%. The ex-dividend date is Monday, March 14. Oaktree Specialty Lending’s payout ratio is 40.79%.
About Oaktree Specialty Loans
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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