Oaktree Specialty Lending Co. (NASDAQ:OCSL) Plans $0.40 Quarterly Dividend

Oaktree Specialty Lending Co. (NASDAQ:OCSL) announced a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Investors of record on Monday, March 17th will be given a dividend of 0.40 per share by the credit services provider on Monday, March 31st. This represents a $1.60 annualized dividend and a yield of 10.29%. The ex-dividend date is Monday, March 17th.

Oaktree Specialty Lending has a dividend payout ratio of 95.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Oaktree Specialty Lending to earn $1.96 per share next year, which means the company may not be able to cover its $2.20 annual dividend with an expected future payout ratio of 112.2%.

Oaktree Specialty Lending Stock Down 1.5 %

OCSL stock opened at $15.55 on Friday. Oaktree Specialty Lending has a twelve month low of $14.89 and a twelve month high of $20.43. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1.28 billion, a P/E ratio of 21.60 and a beta of 1.08. The business’s 50-day moving average price is $15.61 and its 200-day moving average price is $16.18.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. Oaktree Specialty Lending had a return on equity of 11.91% and a net margin of 15.17%. The firm had revenue of $86.65 million for the quarter, compared to analysts’ expectations of $91.93 million. During the same period in the previous year, the firm earned $0.57 EPS. The business’s quarterly revenue was down 11.6% on a year-over-year basis. On average, equities research analysts forecast that Oaktree Specialty Lending will post 2.06 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on OCSL shares. Keefe, Bruyette & Woods lowered their price target on Oaktree Specialty Lending from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Wednesday, November 20th. B. Riley downgraded Oaktree Specialty Lending from a “neutral” rating to a “sell” rating and set a $15.00 target price on the stock. in a research report on Wednesday, December 11th. JMP Securities cut Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 19th. Oppenheimer reiterated a “market perform” rating and issued a $18.00 target price on shares of Oaktree Specialty Lending in a report on Friday, November 22nd. Finally, Citizens Jmp cut Oaktree Specialty Lending from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.75.

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.