Oaktree Specialty Lending Co. to Issue Quarterly Dividend of $0.55 (NASDAQ:OCSL)

Oaktree Specialty Lending Co. (NASDAQ:OCSL) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.55 per share by the credit services provider on Monday, September 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 13.30%. The ex-dividend date of this dividend is Monday, September 16th.

Oaktree Specialty Lending has a payout ratio of 95.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Oaktree Specialty Lending to earn $2.25 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 97.8%.

Oaktree Specialty Lending Stock Performance

NASDAQ:OCSL opened at $16.54 on Friday. The stock has a market capitalization of $1.35 billion, a P/E ratio of 12.34 and a beta of 1.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.17 and a current ratio of 0.17. Oaktree Specialty Lending has a fifty-two week low of $15.56 and a fifty-two week high of $21.64. The company has a 50 day moving average price of $17.23 and a 200 day moving average price of $18.60.

Oaktree Specialty Lending (NASDAQ:OCSL) last posted its quarterly earnings data on Thursday, August 1st. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.02). The firm had revenue of $94.97 million during the quarter, compared to analysts’ expectations of $99.35 million. Oaktree Specialty Lending had a net margin of 17.21% and a return on equity of 12.03%. Equities research analysts forecast that Oaktree Specialty Lending will post 2.24 EPS for the current year.

Analyst Upgrades and Downgrades

OCSL has been the subject of several recent research reports. Wells Fargo & Company cut shares of Oaktree Specialty Lending from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $18.00 to $17.00 in a research report on Monday, August 26th. JPMorgan Chase & Co. lowered their target price on Oaktree Specialty Lending from $20.00 to $18.50 and set an “overweight” rating for the company in a research note on Monday, July 29th. StockNews.com lowered Oaktree Specialty Lending from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. B. Riley decreased their price objective on Oaktree Specialty Lending from $18.50 to $17.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Oppenheimer lowered shares of Oaktree Specialty Lending from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $20.00 to $18.00 in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.25.

Oaktree Specialty Lending Company Profile

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.