Q3 2024 EPS Estimates for Oaktree Specialty Lending Co. Cut by Analyst (NASDAQ:OCSL)

Oaktree Specialty Lending Co. (NASDAQ:OCSL) – B. Riley cut their Q3 2024 earnings per share estimates for shares of Oaktree Specialty Lending in a report issued on Wednesday, May 1st. B. Riley analyst B. Rowe now forecasts that the credit services provider will post earnings of $0.57 per share for the quarter, down from their previous forecast of $0.58. B. Riley has a “Neutral” rating and a $21.00 price target on the stock. The consensus estimate for Oaktree Specialty Lending’s current full-year earnings is $2.29 per share. B. Riley also issued estimates for Oaktree Specialty Lending’s FY2024 earnings at $2.28 EPS, Q1 2025 earnings at $0.60 EPS, Q2 2025 earnings at $0.56 EPS, Q3 2025 earnings at $0.55 EPS, Q4 2025 earnings at $0.56 EPS and FY2025 earnings at $2.28 EPS.

OCSL has been the subject of several other research reports. JPMorgan Chase & Co. dropped their price target on Oaktree Specialty Lending from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. JMP Securities reissued a “market outperform” rating and set a $21.00 price target on shares of Oaktree Specialty Lending in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods downgraded Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $22.00 to $19.00 in a research report on Friday, February 2nd. Finally, Wells Fargo & Company lifted their price objective on Oaktree Specialty Lending from $20.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Oaktree Specialty Lending has an average rating of “Hold” and a consensus target price of $20.67.

Oaktree Specialty Lending Price Performance

Oaktree Specialty Lending stock opened at $19.30 on Friday. The company has a market cap of $1.57 billion, a P/E ratio of 14.40 and a beta of 1.06. Oaktree Specialty Lending has a one year low of $17.99 and a one year high of $21.64. The business has a fifty day moving average of $19.53 and a two-hundred day moving average of $19.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.25 and a current ratio of 0.24.

Oaktree Specialty Lending (NASDAQ:OCSL) last announced its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The firm had revenue of $94.03 million during the quarter, compared to analyst estimates of $99.66 million. Oaktree Specialty Lending had a net margin of 25.90% and a return on equity of 12.16%. During the same quarter in the previous year, the business earned $0.62 EPS.

Oaktree Specialty Lending Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 11.40%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 164.18%.

Insider Activity at Oaktree Specialty Lending

In related news, Director Phyllis R. Caldwell purchased 2,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was purchased at an average price of $20.07 per share, for a total transaction of $40,140.00. Following the acquisition, the director now directly owns 11,166 shares in the company, valued at $224,101.62. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Oaktree Specialty Lending

Several institutional investors and hedge funds have recently made changes to their positions in OCSL. Cape Investment Advisory Inc. purchased a new position in shares of Oaktree Specialty Lending during the 4th quarter valued at approximately $39,000. Massmutual Trust Co. FSB ADV purchased a new position in shares of Oaktree Specialty Lending during the 4th quarter valued at approximately $41,000. Bfsg LLC purchased a new position in shares of Oaktree Specialty Lending during the 4th quarter valued at approximately $71,000. AdvisorNet Financial Inc boosted its stake in shares of Oaktree Specialty Lending by 21.4% during the 4th quarter. AdvisorNet Financial Inc now owns 5,100 shares of the credit services provider’s stock valued at $104,000 after buying an additional 900 shares during the last quarter. Finally, Adalta Capital Management LLC boosted its stake in shares of Oaktree Specialty Lending by 28.8% during the 3rd quarter. Adalta Capital Management LLC now owns 6,825 shares of the credit services provider’s stock valued at $137,000 after buying an additional 1,525 shares during the last quarter. 36.79% of the stock is currently owned by hedge funds and other institutional investors.

About Oaktree Specialty Lending

Oaktree Specialty Lending Corporation is a business development company. The fund 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.