Zacks Research Has Bearish Forecast for OBDC FY2024 Earnings

Blue Owl Capital Co. (NYSE:OBDC) – Investment analysts at Zacks Research lowered their FY2024 earnings per share (EPS) estimates for Blue Owl Capital in a research report issued to clients and investors on Tuesday, October 22nd. Zacks Research analyst K. Dey now anticipates that the company will earn $1.91 per share for the year, down from their prior estimate of $1.92. The consensus estimate for Blue Owl Capital’s current full-year earnings is $1.91 per share. Zacks Research also issued estimates for Blue Owl Capital’s Q4 2024 earnings at $0.47 EPS, Q2 2025 earnings at $0.42 EPS, FY2025 earnings at $1.71 EPS, Q1 2026 earnings at $0.43 EPS and Q2 2026 earnings at $0.42 EPS.

Blue Owl Capital (NYSE:OBDC) last announced its earnings results on Wednesday, August 7th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $396.76 million for the quarter, compared to analyst estimates of $388.84 million. Blue Owl Capital had a return on equity of 12.66% and a net margin of 43.61%.

OBDC has been the topic of several other reports. Raymond James cut Blue Owl Capital from an “outperform” rating to a “market perform” rating in a report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $17.00 price target on shares of Blue Owl Capital in a research note on Monday, August 12th. Keefe, Bruyette & Woods reduced their price objective on Blue Owl Capital from $16.00 to $15.50 and set a “market perform” rating for the company in a research note on Tuesday, August 20th. Compass Point raised shares of Blue Owl Capital to a “strong-buy” rating in a research note on Monday, August 19th. Finally, Truist Financial reduced their target price on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.94.

Blue Owl Capital Stock Up 0.7 %

Shares of NYSE OBDC opened at $15.19 on Friday. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 8.49 and a beta of 0.87. The company’s 50-day simple moving average is $14.86 and its 200-day simple moving average is $15.44. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.24. Blue Owl Capital has a 52-week low of $12.99 and a 52-week high of $16.91.

Institutional Investors Weigh In On Blue Owl Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI purchased a new position in shares of Blue Owl Capital during the 2nd quarter worth $26,000. CWM LLC boosted its stake in Blue Owl Capital by 98.6% during the second quarter. CWM LLC now owns 2,079 shares of the company’s stock worth $32,000 after buying an additional 1,032 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Blue Owl Capital during the first quarter valued at about $40,000. Retirement Group LLC raised its stake in shares of Blue Owl Capital by 216.8% in the 1st quarter. Retirement Group LLC now owns 3,105 shares of the company’s stock valued at $48,000 after acquiring an additional 2,125 shares during the period. Finally, Rothschild Investment LLC acquired a new position in shares of Blue Owl Capital in the 2nd quarter worth approximately $61,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.

Insider Activity at Blue Owl Capital

In other news, Director Edward H. Dalelio bought 2,500 shares of Blue Owl Capital stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of $15.02 per share, with a total value of $37,550.00. Following the completion of the purchase, the director now directly owns 9,016 shares of the company’s stock, valued at approximately $135,420.32. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.12% of the stock is currently owned by insiders.

Blue Owl Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.06 per share. This is a boost from Blue Owl Capital’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.24 annualized dividend and a dividend yield of 1.58%. Blue Owl Capital’s payout ratio is presently 82.68%.

About Blue Owl Capital

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.