Brokerages expect Oaktree Specialty Lending Co. (NASDAQ:OCSL – Get Rating) to post $62.11 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Oaktree Specialty Lending’s earnings, with the lowest sales estimate coming in at $62.03 million and the highest estimate coming in at $62.19 million. Oaktree Specialty Lending reported sales of $65.44 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 5.1%. The business is scheduled to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Oaktree Specialty Lending will report full year sales of $254.37 million for the current year, with estimates ranging from $254.21 million to $254.52 million. For the next year, analysts anticipate that the business will post sales of $256.69 million, with estimates ranging from $253.74 million to $259.63 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Oaktree Specialty Lending.
Oaktree Specialty Lending (NASDAQ:OCSL – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The credit services provider reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $64.30 million for the quarter, compared to analyst estimates of $58.95 million. Oaktree Specialty Lending had a net margin of 53.18% and a return on equity of 9.59%.
Shares of Oaktree Specialty Lending stock opened at $6.81 on Thursday. The firm has a 50-day simple moving average of $7.26 and a two-hundred day simple moving average of $7.39. The company has a market cap of $1.25 billion, a P/E ratio of 8.96 and a beta of 1.31. Oaktree Specialty Lending has a fifty-two week low of $6.57 and a fifty-two week high of $7.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.09 and a current ratio of 0.09.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 9.69%. This is a boost from Oaktree Specialty Lending’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, June 14th. Oaktree Specialty Lending’s payout ratio is 84.21%.
In other news, President Mathew Pendo purchased 18,381 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was acquired at an average cost of $7.06 per share, for a total transaction of $129,769.86. Following the completion of the purchase, the president now owns 103,591 shares of the company’s stock, valued at $731,352.46. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Phyllis R. Caldwell acquired 5,000 shares of the stock in a transaction that occurred on Monday, May 23rd. The shares were acquired at an average cost of $6.80 per share, with a total value of $34,000.00. Following the transaction, the director now owns 12,700 shares in the company, valued at $86,360. The disclosure for this purchase can be found here. Insiders acquired a total of 30,981 shares of company stock valued at $218,262 over the last ninety days. 0.32% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Ares Management LLC boosted its stake in shares of Oaktree Specialty Lending by 7.7% in the 4th quarter. Ares Management LLC now owns 5,490,077 shares of the credit services provider’s stock worth $40,956,000 after buying an additional 393,658 shares during the last quarter. Bruni J V & Co. Co. boosted its position in shares of Oaktree Specialty Lending by 0.5% during the 4th quarter. Bruni J V & Co. Co. now owns 4,514,890 shares of the credit services provider’s stock worth $33,681,000 after purchasing an additional 20,900 shares during the period. Oaktree Capital Management LP raised its holdings in shares of Oaktree Specialty Lending by 1,526.9% in the 3rd quarter. Oaktree Capital Management LP now owns 4,490,368 shares of the credit services provider’s stock valued at $31,701,000 after purchasing an additional 4,214,368 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Oaktree Specialty Lending by 48.4% in the first quarter. Van ECK Associates Corp now owns 3,868,924 shares of the credit services provider’s stock valued at $28,514,000 after acquiring an additional 1,261,296 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Oaktree Specialty Lending by 11.2% in the first quarter. LSV Asset Management now owns 3,111,980 shares of the credit services provider’s stock valued at $22,935,000 after acquiring an additional 312,300 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.
About Oaktree Specialty Lending (Get Rating)
Oaktree Specialty Lending Corporation is a business development company 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.
- Get a free copy of the StockNews.com research report on Oaktree Specialty Lending (OCSL)
- Short-Covering Begins In Big Lots
- Agilent Technologies Is Bottoming But Don’t Buy It Yet
- Institutions Ring The Register On Toll Brothers Stock
- Dick’s Sporting Goods Falls Flat On Weak Guidance
- It’s Time to Buy into Planet Fitness Stock
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Oaktree Specialty Lending Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oaktree Specialty Lending and related companies with MarketBeat.com's FREE daily email newsletter.