Oaktree Specialty Lending Co. (NASDAQ:OCSL) to Issue Quarterly Dividend of $0.40

Oaktree Specialty Lending Co. (NASDAQ:OCSL) announced a quarterly dividend on Friday, May 2nd, Wall Street Journal reports. Stockholders of record on Monday, June 16th will be paid a dividend of 0.40 per share by the credit services provider on Monday, June 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.77%. The ex-dividend date of this dividend is Monday, June 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 decline. Analysts expect Oaktree Specialty Lending to earn $1.94 per share next year, which means the company may not be able to cover its $2.20 annual dividend with an expected future payout ratio of 113.4%.

Oaktree Specialty Lending Price Performance

Shares of NASDAQ:OCSL opened at $13.59 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.63. The stock has a market cap of $1.12 billion, a PE ratio of 20.28 and a beta of 0.84. The company’s fifty day moving average is $14.92 and its 200 day moving average is $15.49. Oaktree Specialty Lending has a 52 week low of $12.50 and a 52 week high of $19.80.

Oaktree Specialty Lending (NASDAQ:OCSL) last released its earnings results on Thursday, May 1st. The credit services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.06). The company had revenue of $70.52 million during the quarter, compared to the consensus estimate of $84.67 million. Oaktree Specialty Lending had a net margin of 14.75% and a return on equity of 12.07%. During the same period last year, the firm posted $0.56 EPS. Research analysts anticipate that Oaktree Specialty Lending will post 2.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Oaktree Specialty Lending from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. cut their target price on Oaktree Specialty Lending from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods dropped their price objective on Oaktree Specialty Lending from $16.50 to $15.00 and set a “market perform” rating for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, Oaktree Specialty Lending currently has an average rating of “Hold” and an average price target of $16.00.

About Oaktree Specialty Lending

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.