Carlyle Secured Lending (NASDAQ:CGBD) Releases Earnings Results, Meets Estimates

Carlyle Secured Lending (NASDAQ:CGBD) released its quarterly earnings results on Thursday. The company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36, FiscalAI reports. The business had revenue of $63.20 million for the quarter, compared to analyst estimates of $63.11 million. Carlyle Secured Lending had a net margin of 14.26% and a return on equity of 8.85%.

Carlyle Secured Lending Stock Performance

Shares of CGBD stock opened at $11.17 on Friday. The firm has a market capitalization of $768.61 million, a price-to-earnings ratio of 21.08 and a beta of 0.66. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.20. The business’s 50-day moving average price is $10.95 and its 200-day moving average price is $11.11. Carlyle Secured Lending has a 12 month low of $9.94 and a 12 month high of $13.28.

Carlyle Secured Lending Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 19th. Stockholders of record on Thursday, December 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date is Thursday, December 31st. Carlyle Secured Lending’s dividend payout ratio is currently 274.51%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lowered shares of Carlyle Secured Lending from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $12.00 to $11.00 in a research note on Tuesday, September 29th. Zacks Research downgraded Carlyle Secured Lending from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Raymond James Financial set a $11.00 target price on Carlyle Secured Lending in a research note on Thursday, October 22nd. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Carlyle Secured Lending presently has an average rating of “Hold” and a consensus price target of $11.25.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc (NASDAQ:CGBD) is a business development company that invests in privately held, middle-market companies. Its primary objective is to generate current income and, to a lesser extent, capital appreciation by providing financing to businesses that may have limited access to traditional sources of capital.

The company primarily invests in first-lien senior secured loans, while also pursuing opportunities in second-lien loans, subordinated debt and equity investments.