Oaktree Specialty Lending Corp. (NASDAQ:OCSL) Stock Has Consensus Price Target of $11.83 According to Brokerages

Shares of Oaktree Specialty Lending Corp. (NASDAQ:OCSL) have earned a consensus recommendation of “Reduce” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $11.83.

OCSL has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Oaktree Specialty Lending from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. B. Riley Financial reaffirmed a “neutral” rating on shares of Oaktree Specialty Lending in a research report on Friday, August 7th. Finally, Weiss Ratings lowered Oaktree Specialty Lending from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday.

Institutional Investors Weigh In On Oaktree Specialty Lending

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Palliser Capital UK Ltd acquired a new stake in Oaktree Specialty Lending in the 2nd quarter worth approximately $3,236,000. Legal & General Group Plc purchased a new stake in Oaktree Specialty Lending during the 2nd quarter worth approximately $8,980,000. Plan Group Financial LLC acquired a new position in Oaktree Specialty Lending during the 2nd quarter valued at approximately $2,416,000. BlackRock Inc. acquired a new position in Oaktree Specialty Lending during the 2nd quarter valued at approximately $3,988,000. Finally, Bruni J V & Co. Co. purchased a new position in shares of Oaktree Specialty Lending in the second quarter worth $29,549,160. 36.79% of the stock is currently owned by hedge funds and other institutional investors.

Oaktree Specialty Lending Price Performance

Shares of OCSL stock opened at $11.60 on Wednesday. Oaktree Specialty Lending has a 1-year low of $10.63 and a 1-year high of $14.31. The stock’s 50-day moving average is $12.56 and its 200 day moving average is $12.16. The company has a market cap of $1.02 billion, a P/E ratio of 24.17 and a beta of 0.51. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.19 and a quick ratio of 0.19.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its earnings results on Tuesday, August 4th. The credit services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $69.15 million during the quarter, compared to the consensus estimate of $69.40 million. Oaktree Specialty Lending had a net margin of 14.45% and a return on equity of 9.70%. Research analysts predict that Oaktree Specialty Lending will post 1.51 earnings per share for the current fiscal year.

Oaktree Specialty Lending Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $0.03 per share. This is a negative change from Oaktree Specialty Lending’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, September 15th. This represents a $0.12 annualized dividend and a yield of 1.0%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is presently 250.00%.

Oaktree Specialty Lending Company Profile

Oaktree Specialty Lending Corporation (NASDAQ: OCSL) is a business development company that provides financing to middle-market companies. The company invests primarily in privately negotiated loans and other debt instruments, seeking to support businesses that may have limited access to traditional bank financing.

Its investment portfolio generally includes first-lien and second-lien loans, unitranche facilities, subordinated debt and, to a lesser extent, equity investments. Oaktree Specialty Lending works with companies across a range of industries and may provide capital for acquisitions, recapitalizations, growth initiatives, refinancing and other general corporate purposes.

The company is externally managed by Oaktree Capital Management, a global investment firm.