Carlyle Secured Lending (NASDAQ:CGBD – Get Free Report) posted its earnings results on Thursday. The company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36, FiscalAI reports. The business had revenue of $63.20 million for the quarter, compared to analyst estimates of $63.11 million. Carlyle Secured Lending had a net margin of 14.26% and a return on equity of 8.85%.
Carlyle Secured Lending Stock Up 2.6%
CGBD traded up $0.28 during trading on Friday, hitting $11.17. The company had a trading volume of 464,531 shares, compared to its average volume of 599,840. The company has a market capitalization of $768.61 million, a PE ratio of 21.90 and a beta of 0.66. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.20. Carlyle Secured Lending has a one year low of $9.94 and a one year high of $13.28. The firm’s 50-day moving average price is $10.96 and its 200 day moving average price is $11.12.
Carlyle Secured Lending Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 19th. Stockholders of record on Thursday, December 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 12.5%. The ex-dividend date is Thursday, December 31st. Carlyle Secured Lending’s dividend payout ratio is 274.51%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on CGBD. Wells Fargo & Company lowered shares of Carlyle Secured Lending from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $12.00 to $11.00 in a research report on Tuesday, September 29th. Raymond James Financial set a $11.00 price target on shares of Carlyle Secured Lending in a report on Thursday, October 22nd. Finally, Zacks Research cut shares of Carlyle Secured Lending from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.25.
Check Out Our Latest Report on CGBD
Carlyle Secured Lending Company Profile
Carlyle Secured Lending, Inc (NASDAQ:CGBD) is a business development company that invests in privately held, middle-market companies. Its primary objective is to generate current income and, to a lesser extent, capital appreciation by providing financing to businesses that may have limited access to traditional sources of capital.
The company primarily invests in first-lien senior secured loans, while also pursuing opportunities in second-lien loans, subordinated debt and equity investments.
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