TPG Specialty Lending, Inc. (TSLX) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of TPG Specialty Lending, Inc. (NYSE:TSLX) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.
According to Zacks, “TPG Specialty Lending, Inc. is a specialty finance company. It is focused on providing fully-underwritten capital solutions to middle market companies. The Company specializes in standalone first-lien loans, standalone second-lien loans, mezzanine loans, unitranche loans. TPG Specialty Lending, Inc. is based in Fort Worth, Texas. “
A number of other equities research analysts also recently weighed in on the company. BidaskClub downgraded TPG Specialty Lending from a strong-buy rating to a buy rating in a research report on Thursday, August 31st. SunTrust Banks, Inc. reissued a buy rating and set a $22.00 target price (up from $21.00) on shares of TPG Specialty Lending in a research report on Wednesday, August 9th. National Securities reissued a neutral rating and set a $19.00 target price on shares of TPG Specialty Lending in a research report on Monday, August 7th. Finally, JMP Securities lifted their target price on TPG Specialty Lending from $21.50 to $22.00 and gave the stock an outperform rating in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $21.75.
Shares of TPG Specialty Lending (TSLX) opened at $20.42 on Friday. The stock has a market capitalization of $1,225.58, a PE ratio of 10.07, a PEG ratio of 3.40 and a beta of 0.69. TPG Specialty Lending has a 1 year low of $17.98 and a 1 year high of $21.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.76 and a quick ratio of 0.76.
TPG Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.08. The company had revenue of $48.86 million for the quarter, compared to the consensus estimate of $48.58 million. TPG Specialty Lending had a return on equity of 12.63% and a net margin of 56.43%. During the same period last year, the business posted $0.51 earnings per share. sell-side analysts predict that TPG Specialty Lending will post 1.99 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 7.64%. The ex-dividend date is Thursday, December 14th. TPG Specialty Lending’s dividend payout ratio is 79.59%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp lifted its stake in TPG Specialty Lending by 19.0% during the third quarter. Mackenzie Financial Corp now owns 66,000 shares of the financial services provider’s stock worth $1,383,000 after purchasing an additional 10,553 shares during the period. OxFORD Asset Management LLP lifted its stake in TPG Specialty Lending by 767.3% during the third quarter. OxFORD Asset Management LLP now owns 106,007 shares of the financial services provider’s stock worth $2,203,000 after purchasing an additional 93,784 shares during the period. Hillsdale Investment Management Inc. bought a new position in TPG Specialty Lending during the third quarter worth about $809,000. Mckinley Capital Management LLC Delaware lifted its stake in TPG Specialty Lending by 14.7% during the third quarter. Mckinley Capital Management LLC Delaware now owns 206,157 shares of the financial services provider’s stock worth $4,321,000 after purchasing an additional 26,386 shares during the period. Finally, Citadel Advisors LLC bought a new position in TPG Specialty Lending during the third quarter worth about $687,000. Hedge funds and other institutional investors own 62.73% of the company’s stock.
About TPG Specialty Lending
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.
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