Carlyle Secured Lending (NASDAQ:CGBD) Price Target Raised to $17.00

Carlyle Secured Lending (NASDAQ:CGBD) had its price target increased by Wells Fargo & Company from $16.00 to $17.00 in a research report report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Carlyle Secured Lending Stock Up 0.4 %

Carlyle Secured Lending stock opened at $18.56 on Wednesday. The business’s 50-day moving average price is $17.92 and its 200 day moving average price is $17.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.99. The firm has a market cap of $944.89 million, a price-to-earnings ratio of 10.37 and a beta of 1.57. Carlyle Secured Lending has a 52 week low of $14.76 and a 52 week high of $18.74.

Carlyle Secured Lending (NASDAQ:CGBD) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $55.97 million for the quarter, compared to the consensus estimate of $39.92 million. Carlyle Secured Lending had a net margin of 40.69% and a return on equity of 12.60%. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, sell-side analysts anticipate that Carlyle Secured Lending will post 1.98 earnings per share for the current year.

Carlyle Secured Lending Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 9.70%. The ex-dividend date was Tuesday, December 31st. Carlyle Secured Lending’s payout ratio is currently 89.39%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC raised its position in Carlyle Secured Lending by 1,597.0% during the third quarter. International Assets Investment Management LLC now owns 307,581 shares of the company’s stock worth $52,200,000 after acquiring an additional 289,456 shares during the period. Hager Investment Management Services LLC acquired a new position in Carlyle Secured Lending during the fourth quarter worth about $4,093,000. Herbst Group LLC purchased a new stake in Carlyle Secured Lending during the 3rd quarter valued at about $2,071,000. GFS Advisors LLC acquired a new stake in Carlyle Secured Lending in the 4th quarter valued at about $891,000. Finally, Franklin Resources Inc. purchased a new position in Carlyle Secured Lending in the 3rd quarter worth approximately $585,000. 24.51% of the stock is owned by institutional investors and hedge funds.

Carlyle Secured Lending Company Profile

Carlyle Secured Lending, Inc is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector.