Blue Owl Capital Corporation (OBDC) to Issue Quarterly Dividend of $0.31 on October 15th

Blue Owl Capital Corporation (NYSE:OBDCGet Free Report) declared a quarterly dividend on Tuesday, August 4th. Investors of record on Wednesday, September 30th will be paid a dividend of 0.31 per share on Thursday, October 15th. This represents a c) annualized dividend and a yield of 11.0%. The ex-dividend date is Wednesday, September 30th.

Blue Owl Capital has a dividend payout ratio of 81.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Blue Owl Capital to earn $1.30 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 95.4%.

Blue Owl Capital Stock Up 2.8%

Blue Owl Capital stock traded up $0.30 during midday trading on Thursday, reaching $11.28. The stock had a trading volume of 2,959,367 shares, compared to its average volume of 4,918,309. The company has a fifty day moving average price of $10.96 and a two-hundred day moving average price of $11.27. The company has a market capitalization of $5.60 billion, a P/E ratio of 16.11 and a beta of 0.62. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.18. Blue Owl Capital has a 12 month low of $10.52 and a 12 month high of $14.53.

Blue Owl Capital (NYSE:OBDCGet Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $396.00 million for the quarter, compared to analysts’ expectations of $394.23 million. Blue Owl Capital had a return on equity of 9.76% and a net margin of 20.21%.During the same period last year, the business earned $0.40 EPS. As a group, equities analysts expect that Blue Owl Capital will post 1.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Blue Owl Capital from $12.50 to $12.00 and set a “market perform” rating on the stock in a report on Thursday, April 16th. Wells Fargo & Company lowered their target price on shares of Blue Owl Capital from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Lucid Cap Mkts upgraded shares of Blue Owl Capital to a “strong-buy” rating in a research report on Friday, July 24th. Capital One Financial set a $13.00 price target on Blue Owl Capital in a research note on Friday, July 24th. Finally, Truist Financial lowered their target price on Blue Owl Capital from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.00.

View Our Latest Stock Report on OBDC

Blue Owl Capital Company Profile

(Get Free Report)

Blue Owl Capital Corporation (NYSE: OBDC) is a publicly traded business development company sponsored by Blue Owl Capital, a global alternative asset manager. Launched in 2020, the firm provides customized financing solutions to middle-market companies across various industries. As an externally managed BDC, Blue Owl Capital Corporation leverages the deep credit‐investment capabilities of its sponsor to deliver flexible capital tailored to the needs of growing businesses.

The company’s investment activities span a range of private credit products, including first‐lien senior secured loans, unitranche facilities, second‐lien financings, mezzanine debt, and minority equity co-investments.

Further Reading

Dividend History for Blue Owl Capital (NYSE:OBDC)

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