Oaktree Specialty Lending Co. (NASDAQ:OCSL) Receives $22.20 Consensus Price Target from Brokerages

Posted by Defense World Staff on Apr 8th, 2023

Oaktree Specialty Lending Co. (NASDAQ:OCSL – Get Rating) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $22.20.

A number of brokerages have weighed in on OCSL. JMP Securities restated a “market outperform” rating and set a $23.00 price objective on shares of Oaktree Specialty Lending in a research note on Monday, March 13th. JPMorgan Chase & Co. lowered their price objective on Oaktree Specialty Lending from $21.00 to $20.50 and set an “overweight” rating for the company in a research note on Wednesday, February 8th. TheStreet lowered Oaktree Specialty Lending from a “b-” rating to a “c” rating in a research note on Tuesday. Finally, StockNews.com began coverage on Oaktree Specialty Lending in a research note on Thursday, March 16th. They set a “hold” rating for the company.

Oaktree Specialty Lending Price Performance

OCSL stock opened at $18.44 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.08 and a current ratio of 0.08. Oaktree Specialty Lending has a 1 year low of $17.59 and a 1 year high of $22.83. The firm has a market cap of $1.42 billion, a P/E ratio of 461.35 and a beta of 1.17. The stock has a 50-day simple moving average of $19.42 and a 200-day simple moving average of $19.89.

Oaktree Specialty Lending (NASDAQ:OCSL – Get Rating) last posted its earnings results on Tuesday, February 7th. The credit services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.06. Oaktree Specialty Lending had a return on equity of 10.67% and a net margin of 1.12%. The business had revenue of $69.98 million during the quarter, compared to analyst estimates of $67.33 million. During the same quarter last year, the firm earned $0.51 earnings per share. On average, equities analysts predict that Oaktree Specialty Lending will post 2.52 earnings per share for the current fiscal year.

Oaktree Specialty Lending Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 11.93%. The ex-dividend date was Tuesday, March 14th. This is an increase from Oaktree Specialty Lending’s previous quarterly dividend of $0.51. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 5,504.13%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Sound Income Strategies LLC lifted its holdings in Oaktree Specialty Lending by 123.8% during the 3rd quarter. Sound Income Strategies LLC now owns 5,187 shares of the credit services provider’s stock worth $31,000 after buying an additional 2,869 shares during the last quarter. HBK Sorce Advisory LLC lifted its holdings in shares of Oaktree Specialty Lending by 100.3% in the 4th quarter. HBK Sorce Advisory LLC now owns 21,232 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 10,631 shares during the last quarter. Toronto Dominion Bank bought a new stake in shares of Oaktree Specialty Lending in the 4th quarter worth approximately $37,000. Deutsche Bank AG bought a new stake in shares of Oaktree Specialty Lending in the 4th quarter worth approximately $39,000. Finally, Parallel Advisors LLC bought a new stake in shares of Oaktree Specialty Lending in the 4th quarter worth approximately $41,000. Institutional investors own 50.26% of the company’s stock.

Oaktree Specialty Lending Company Profile

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Oaktree Specialty Lending Corp. operates as an alternative asset manager that provides financing solutions to private, small and mid-sized growing businesses. While fostering growth is our primary mission, a singular purpose drives all of our pursuits partnering for success.