Goldman Sachs BDC (GSBD) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Goldman Sachs BDC (NYSE:GSBD) from a hold rating to a buy rating in a research note published on Tuesday morning. The brokerage currently has $24.00 price objective on the financial services provider’s stock.
According to Zacks, “Goldman Sachs BDC, Inc. is a specialty finance company. The Company invests primarily in telecommunication services, electronic equipment, instruments and components and real estate management and development industries. Goldman Sachs BDC, Inc. is based in NEW YORK, United States. “
A number of other brokerages have also issued reports on GSBD. ValuEngine raised Goldman Sachs BDC from a sell rating to a hold rating in a report on Friday, July 6th. National Securities reissued a buy rating and issued a $23.00 price objective on shares of Goldman Sachs BDC in a report on Monday, August 6th. Finally, Citigroup started coverage on Goldman Sachs BDC in a report on Thursday, August 23rd. They issued a neutral rating and a $23.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $23.00.
Goldman Sachs BDC (NYSE:GSBD) last issued its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Goldman Sachs BDC had a return on equity of 10.19% and a net margin of 46.91%. The business had revenue of $37.20 million during the quarter, compared to analyst estimates of $36.04 million. During the same period in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. equities research analysts forecast that Goldman Sachs BDC will post 1.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a $0.45 dividend. The ex-dividend date is Thursday, September 27th. This represents a $1.80 dividend on an annualized basis and a yield of 8.17%. Goldman Sachs BDC’s dividend payout ratio (DPR) is 86.96%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stelac Advisory Services LLC acquired a new stake in Goldman Sachs BDC in the second quarter worth approximately $123,000. Great West Life Assurance Co. Can acquired a new stake in Goldman Sachs BDC in the first quarter worth approximately $204,000. US Bancorp DE acquired a new stake in Goldman Sachs BDC in the second quarter worth approximately $240,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Goldman Sachs BDC in the second quarter worth approximately $247,000. Finally, IHT Wealth Management LLC lifted its position in Goldman Sachs BDC by 39.6% in the first quarter. IHT Wealth Management LLC now owns 21,089 shares of the financial services provider’s stock worth $401,000 after purchasing an additional 5,981 shares during the period. Hedge funds and other institutional investors own 34.27% of the company’s stock.
About Goldman Sachs BDC
Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.
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