Oaktree Specialty Lending Co. (NASDAQ:OCSL) Expected to Report Quarterly Sales of $58.95 Million

Brokers expect Oaktree Specialty Lending Co. (NASDAQ:OCSL – Get Rating) to report sales of $58.95 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts released earnings estimates for Oaktree Specialty Lending, with the lowest sales estimate of $57.54 million and the highest estimate of $60.36 million. Oaktree Specialty Lending posted sales of $41.94 million in the same quarter last year, suggesting a positive growth rate of 40.6% year over year. The company is due to announce its next results on Thursday, May 5.

On average, analysts expect Oaktree Specialty Lending to report annual revenue of $243.45 million for the current fiscal year, with estimates ranging from $239.32 million to 247, $59 million. For the next fiscal year, analysts expect the company to post sales of $247.36 million, with estimates ranging from $240.62 million to $254.10 million. Zacks sales calculations are an average average based on a survey of sell-side research companies that provide coverage for Oaktree Specialty Lending.

Oaktree Specialty Lending (NASDAQ:OCSL – Get Rating) last reported results on Thursday, February 3. The credit services provider reported earnings per share (EPS) of $0.17 for the quarter, meeting the Zacks consensus estimate of $0.17. Oaktree Specialty Lending had a net margin of 89.41% and a return on equity of 8.82%. During the same period of the previous year, the company achieved EPS of $0.14.

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A number of equity research analysts have weighed in on OCSL shares recently. Zacks Investment Research upgraded Oaktree Specialty Lending from a “hold” rating to a “buy” rating and set a price target of $8.50 on the stock in a Wednesday, February 9, report. JMP Securities raised its price target on Oaktree Specialty Lending shares from $8.00 to $8.50 and gave the company a “market outperforming” rating in a Wednesday, Nov. 17 research note. Four investment analysts have rated the stock with a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $7.94.

Separately, major shareholder Leonard M. Tannenbaum sold 34,100 shares of Oaktree Specialty Lending in a trade on Monday, Dec. 13. The shares were sold at an average price of $7.55, for a total value of $257,455.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, major shareholder Leonard M. Tannenbaum sold 200,000 shares of Oaktree Specialty Lending in a trade on Monday, December 27. The shares were sold at an average price of $7.54, for a total transaction of $1,508,000.00. The disclosure of this sale can be found here. Insiders sold a total of 634,200 shares of the company valued at $4,772,205 over the past three months. Insiders of the company own 0.32% of the shares of the company.

A number of institutional investors and hedge funds have recently changed their positions in the stock. Ares Management LLC increased its holdings in Oaktree Specialty Lending by 7.7% in the fourth quarter. Ares Management LLC now owns 5,490,077 shares of the credit service provider worth $40,956,000 after acquiring an additional 393,658 shares during the period. Bruni JV & Co. Co. increased its holdings of Oaktree Specialty Lending shares by 0.5% during the 4th quarter. Bruni JV & Co. Co. now owns 4,514,890 shares of the credit service provider worth $33,681,000 after purchasing an additional 20,900 shares during the period. Oaktree Capital Management LP increased its holdings of Oaktree Specialty Lending shares by 1,526.9% during Q3. Oaktree Capital Management LP now owns 4,490,368 shares of the credit service provider worth $31,701,000 after purchasing an additional 4,214,368 shares during the period. Millennium Management LLC increased its equity stake in Oaktree Specialty Lending by 27.2% during the 4th quarter. Millennium Management LLC now owns 2,875,374 shares of the credit service provider worth $21,450,000 after purchasing an additional 614,908 shares during the period. Finally, CLARET ASSET MANAGEMENT Corp increased its stake in Oaktree Specialty Lending shares by 16.1% during the 3rd quarter. CLARET ASSET MANAGEMENT Corp now owns 2,845,675 shares of the credit service provider worth $20,090,000 after purchasing an additional 393,827 shares during the period. Hedge funds and other institutional investors own 63.27% of the company’s shares.

OCSL opened at $7.49 on Friday. The company’s 50-day moving average is $7.52 and its 200-day moving average is $7.39. The stock has a market capitalization of $1.35 billion, a PE ratio of 5.85, a growth price-earnings ratio of 0.90 and a beta of 1.35. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt ratio of 0.48. Oaktree Specialty Lending has a 12-month low of $6.07 and a 12-month high of $7.81.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 31. Investors of record on Tuesday, March 15 will receive a dividend of $0.16. This is a positive change from Oaktree Specialty Lending’s previous quarterly dividend of $0.16. The ex-dividend date is Monday, March 14. This represents a dividend of $0.64 on an annualized basis and a yield of 8.54%. Oaktree Specialty Lending’s dividend payout ratio (DPR) is currently 48.44%.

Oaktree Specialty Loan Company Profile (Get a rating)

Oaktree Specialty Lending Corp. operates as an alternative asset manager that provides financing solutions to growing private small and medium enterprises. While fostering growth is our primary mission, a singular purpose guides all of our activities in Partnering for Success.

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History and Earnings Estimates for Oaktree Specialty Lending (NASDAQ:OCSL)

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