Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Stock Has Average Price Target of $13.62

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) has received a consensus rating of “Hold” from the five analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $13.62.

A number of research firms have issued reports on NCDL. Zacks Research upgraded Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods lowered their price target on shares of Nuveen Churchill Direct Lending from $15.00 to $13.50 and set a “market perform” rating for the company in a research report on Monday, August 10th. UBS Group upgraded shares of Nuveen Churchill Direct Lending from a “neutral” rating to a “buy” rating and cut their price objective for the company from $14.75 to $13.00 in a research report on Tuesday, September 1st. Wells Fargo & Company downgraded shares of Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $13.00 to $12.00 in a research report on Friday, June 12th. Finally, Wall Street Zen raised shares of Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th.

Nuveen Churchill Direct Lending Trading Down 0.5%

NYSE:NCDL opened at $10.96 on Friday. The stock has a 50 day moving average of $12.20 and a 200-day moving average of $12.79. The firm has a market capitalization of $541.33 million, a PE ratio of 11.54 and a beta of 0.55. Nuveen Churchill Direct Lending has a 52 week low of $10.93 and a 52 week high of $15.07.

Nuveen Churchill Direct Lending (NYSE:NCDL) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $11.14 million for the quarter, compared to the consensus estimate of $46.72 million. Nuveen Churchill Direct Lending had a return on equity of 9.60% and a net margin of 24.44%. As a group, analysts predict that Nuveen Churchill Direct Lending will post 1.6 EPS for the current fiscal year.

Nuveen Churchill Direct Lending Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 27th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 13.1%. Nuveen Churchill Direct Lending’s payout ratio is currently 151.58%.

Institutional Trading of Nuveen Churchill Direct Lending

Large investors have recently added to or reduced their stakes in the business. Nottingham Advisors Inc. bought a new stake in Nuveen Churchill Direct Lending during the 1st quarter valued at $308,000. NewGen Asset Management Ltd bought a new position in shares of Nuveen Churchill Direct Lending in the first quarter worth $355,000. Lido Advisors LLC increased its holdings in shares of Nuveen Churchill Direct Lending by 19.9% during the first quarter. Lido Advisors LLC now owns 53,788 shares of the company’s stock valued at $705,000 after purchasing an additional 8,932 shares during the period. Confluence Investment Management LLC increased its holdings in shares of Nuveen Churchill Direct Lending by 2.6% during the third quarter. Confluence Investment Management LLC now owns 70,694 shares of the company’s stock valued at $795,000 after purchasing an additional 1,787 shares during the period. Finally, NewEdge Wealth LLC increased its holdings in shares of Nuveen Churchill Direct Lending by 199.3% during the first quarter. NewEdge Wealth LLC now owns 89,776 shares of the company’s stock valued at $1,142,000 after purchasing an additional 59,777 shares during the period.

About Nuveen Churchill Direct Lending

Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) is a business development company that seeks to generate current income and, to a lesser extent, long-term capital appreciation by investing in privately owned middle-market companies. The company primarily focuses on directly originated loans and other debt investments rather than publicly traded securities.

NCDL generally invests in senior-secured loans, including first-lien and unitranche loans, and may make select junior debt and equity investments.