Brokerages Expect Fifth Street Finance Corp. (OCSL) Will Announce Earnings of $0.13 Per Share
Brokerages expect that Fifth Street Finance Corp. (NASDAQ:OCSL) will announce earnings of $0.13 per share for the current fiscal quarter, according to Zacks. Zero analysts have made estimates for Fifth Street Finance’s earnings. Fifth Street Finance posted earnings of $0.18 per share during the same quarter last year, which would indicate a negative year over year growth rate of 27.8%. The company is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, November 29th.
On average, analysts expect that Fifth Street Finance will report full year earnings of $0.56 per share for the current year, with EPS estimates ranging from $0.55 to $0.56. For the next year, analysts expect that the business will post earnings of $0.53 per share, with EPS estimates ranging from $0.50 to $0.58. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Fifth Street Finance.
A number of equities analysts have recently issued reports on OCSL shares. National Securities reiterated a “buy” rating and set a $7.00 target price on shares of Fifth Street Finance in a research report on Monday, August 14th. BidaskClub upgraded shares of Fifth Street Finance from a “hold” rating to a “buy” rating in a report on Wednesday, October 4th. ValuEngine lowered shares of Fifth Street Finance from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Fifth Street Finance from a “hold” rating to a “buy” rating and set a $6.50 price objective on the stock in a report on Tuesday, November 7th. Finally, TheStreet upgraded shares of Fifth Street Finance from a “d+” rating to a “c” rating in a report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $5.88.
In other Fifth Street Finance news, major shareholder Leonard M. Tannenbaum sold 1,409,606 shares of the company’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $5.56, for a total value of $7,837,409.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bernard D. Berman sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $5.43, for a total transaction of $108,600.00. Following the completion of the sale, the chief executive officer now directly owns 35,968 shares of the company’s stock, valued at approximately $195,306.24. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.
An institutional investor recently bought a new position in Fifth Street Finance stock. Hillsdale Investment Management Inc. acquired a new position in shares of Fifth Street Finance Corp. (NASDAQ:OCSL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,600 shares of the credit services provider’s stock, valued at approximately $129,000. 35.21% of the stock is currently owned by institutional investors.
Shares of Fifth Street Finance (NASDAQ:OCSL) traded down $0.17 during mid-day trading on Friday, hitting $5.03. 3,018,054 shares of the stock were exchanged, compared to its average volume of 1,059,850. Fifth Street Finance has a 12 month low of $3.90 and a 12 month high of $5.91. The firm has a market capitalization of $726.65, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 2.00 and a beta of 0.14. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.44 and a quick ratio of 0.44.
Fifth Street Finance Company Profile
Oaktree Specialty Lending Corporation, formerly Fifth Street Finance Corp., is a specialty finance company. The Company is a closed-end, non-diversified management investment company. The Company acts as a business development company (BDC). The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments, and capital appreciation from its equity investments.
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