National Securities Reiterates “Neutral” Rating for TPG Specialty Lending, Inc. (NYSE:TSLX)
TPG Specialty Lending, Inc. (NYSE:TSLX)‘s stock had its “neutral” rating reaffirmed by stock analysts at National Securities in a report released on Monday. They currently have a $19.00 target price on the financial services provider’s stock. National Securities’ target price indicates a potential downside of 10.88% from the company’s previous close.
The analysts wrote, “• TPG reported NII/share of $0.57 compared to our estimate of $0.44 and consensus of $0.46/share. There were significant repayments during the quarter of $277.0 million and a significant amount of prepayment activity, largely driven by Qlik Technologies and Payless. There was $0.26/share of prepayment fees and OID acceleration combined during the quarter.
• TPG’s asset quality remains very strong, with the company finished 2Q17 with no non-accruals. Mississippi Resources was on non-accrual as of 3/31/17 but was restructured and has seen improved performance since the restructuring. NAV/share increased modestly Q/Q, driving a 12.4% annualized economic return for the quarter.
• TSLX is well positioned to grow its portfolio despite challenging loan market. The company’s ability to understand and participate in complex situations, co-invest and take down larger bite sizes and provide certainty of closing, and utilize ABL (asset-based lending) as well as cash flow lending all bode well for TPG’s ability to drive good volume while maintaining its stringent underwriting criteria and preserving credit quality going forward.
• We are revising our 2017 NII/share estimate to $1.94 from $1.83 and are maintaining our 2018 NII/share estimate of $1.85.”
A number of other research firms also recently issued reports on TSLX. BidaskClub downgraded TPG Specialty Lending from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 20th. Zacks Investment Research raised TPG Specialty Lending from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $19.80.
Shares of TPG Specialty Lending (TSLX) opened at 21.32 on Monday. TPG Specialty Lending has a 1-year low of $17.00 and a 1-year high of $21.57. The stock’s 50 day moving average price is $20.53 and its 200 day moving average price is $20.14.
TPG Specialty Lending (NYSE:TSLX) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. The business had revenue of $58.82 million for the quarter, compared to the consensus estimate of $49.41 million. TPG Specialty Lending had a return on equity of 12.68% and a net margin of 60.77%. TPG Specialty Lending’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 earnings per share. On average, analysts expect that TPG Specialty Lending will post $1.88 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: This news story was first reported by Daily Political and is owned by of Daily Political. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.dailypolitical.com/2017/08/09/national-securities-reiterates-neutral-rating-for-tpg-specialty-lending-inc-nysetslx.html.
A number of institutional investors have recently bought and sold shares of TSLX. Ameriprise Financial Inc. acquired a new position in TPG Specialty Lending during the first quarter worth approximately $201,000. Koshinski Asset Management Inc. acquired a new position in TPG Specialty Lending during the first quarter worth approximately $215,000. Dynamic Technology Lab Private Ltd acquired a new position in TPG Specialty Lending during the first quarter worth approximately $233,000. Sigma Planning Corp acquired a new position in TPG Specialty Lending during the first quarter worth approximately $261,000. Finally, M&T Bank Corp acquired a new position in TPG Specialty Lending during the first quarter worth approximately $280,000. Institutional investors and hedge funds own 64.35% of the company’s stock.
TPG Specialty Lending Company Profile
TPG Specialty Lending, Inc is an externally managed, closed-end, non-diversified management investment company. The Company is a specialty finance company focused on lending to middle-market companies. It seeks to generate current income primarily in the United States-domiciled middle-market companies through direct originations of senior secured loans and originations of mezzanine and unsecured loans and investments in corporate bonds and equity securities.
Receive News & Ratings for TPG Specialty Lending Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPG Specialty Lending Inc. and related companies with MarketBeat.com's FREE daily email newsletter.