Blue Owl Capital (NYSE:OBDC) Sets New 52-Week Low After Earnings Miss

Blue Owl Capital Corporation (NYSE:OBDC)’s share price reached a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $11.97 and last traded at $12.0050, with a volume of 6318114 shares traded. The stock had previously closed at $12.78.

The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $453.07 million during the quarter, compared to analysts’ expectations of $466.81 million. Blue Owl Capital had a net margin of 36.89% and a return on equity of 10.76%.

Blue Owl Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 12.2%. The ex-dividend date is Wednesday, December 31st. Blue Owl Capital’s payout ratio is 104.96%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OBDC. Zacks Research cut shares of Blue Owl Capital from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Citizens Jmp reduced their price target on Blue Owl Capital from $17.00 to $15.00 and set a “market outperform” rating on the stock in a research report on Friday. LADENBURG THALM/SH SH raised Blue Owl Capital to a “strong-buy” rating in a research report on Friday, August 8th. Wells Fargo & Company dropped their target price on Blue Owl Capital from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Raymond James Financial set a $14.00 price target on Blue Owl Capital and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.94.

Hedge Funds Weigh In On Blue Owl Capital

Institutional investors have recently bought and sold shares of the business. Kingstone Capital Partners Texas LLC purchased a new position in Blue Owl Capital during the second quarter worth approximately $734,619,000. State of New Jersey Common Pension Fund A acquired a new position in shares of Blue Owl Capital during the 2nd quarter worth approximately $218,884,000. Bank of America Corp DE raised its stake in shares of Blue Owl Capital by 4.3% during the 2nd quarter. Bank of America Corp DE now owns 12,463,438 shares of the company’s stock worth $178,726,000 after buying an additional 517,294 shares during the period. Cresset Asset Management LLC lifted its position in shares of Blue Owl Capital by 85.8% during the 1st quarter. Cresset Asset Management LLC now owns 8,248,547 shares of the company’s stock valued at $123,979,000 after buying an additional 3,809,000 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Blue Owl Capital by 3.0% in the 1st quarter. Royal Bank of Canada now owns 7,608,871 shares of the company’s stock valued at $111,546,000 after acquiring an additional 221,571 shares during the period. 42.83% of the stock is owned by hedge funds and other institutional investors.

Blue Owl Capital Stock Performance

The company has a market cap of $6.20 billion, a PE ratio of 8.60 and a beta of 0.74. The firm’s fifty day moving average is $13.22 and its 200 day moving average is $14.00. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.20.

Blue Owl Capital Company Profile

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.