Sixth Street Specialty Lending (NYSE:TSLX) Announces Earnings Results

Sixth Street Specialty Lending (NYSE:TSLX) posted its earnings results on Thursday. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04, Zacks reports. Sixth Street Specialty Lending had a return on equity of 13.55% and a net margin of 39.05%.

Sixth Street Specialty Lending Stock Performance

Shares of TSLX opened at $22.47 on Friday. Sixth Street Specialty Lending has a 12-month low of $19.50 and a 12-month high of $22.48. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 1.17. The company has a market cap of $2.10 billion, a PE ratio of 10.91 and a beta of 1.06. The stock has a 50-day moving average price of $21.52 and a 200-day moving average price of $20.99.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, December 20th. Shareholders of record on Monday, December 2nd were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a dividend yield of 7.59%. Sixth Street Specialty Lending’s payout ratio is currently 89.32%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Sixth Street Specialty Lending from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Tuesday, November 12th. LADENBURG THALM/SH SH raised shares of Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $22.33.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.