Sixth Street Specialty Lending, Inc. (NYSE: TSLX – Get a rating) – Oppenheimer Research analysts lowered their second-quarter 2022 earnings estimates for Sixth Street Specialty Lending in a report released Wednesday, May 4. Oppenheimer analyst Penn now expects the financial services provider to post earnings per share of $0.50 for the quarter, down from its previous estimate of $0.51. Oppenheimer also released estimates for Sixth Street Specialty Lending Q3 2022 earnings at $0.50 EPS, Q4 2022 earnings at $0.50 EPS, FY2022 earnings at $1.98 EPS, Q2 2023 earnings at $0.52 EPS, Q3 2023 earnings at $0.53 EPS, Q4 2023 earnings at $0.53 EPS and Full year 2023 earnings at $2.09 EPS. Sixth Street Specialty Lending (NYSE: TSLX – Get a rating) last released its quarterly results on Thursday, February 17. The financial services provider reported earnings per share of $0.63 for the quarter, beating consensus analyst estimates of $0.53 by $0.10. The company posted revenue of $78.32 million for the quarter, versus analyst estimates of $69.02 million. Sixth Street Specialty Lending had a net margin of 70.06% and a return on equity of 12.49%. During the same period last year, the company posted EPS of $0.50.
TSLX has been the subject of several other reports. Zacks Investment Research upgraded Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a Thursday, February 24, report. Wells Fargo & Company raised its price target on Sixth Street Specialty Lending from $24.50 to $25.00 and gave the company an “overweight” rating in a Tuesday, February 22 report. To finish, StockNews.com supposed coverage of Sixth Street Specialty Lending in a Thursday, March 31 report. They have set a “holding” rating on the stock. One research analyst rated the stock with a sell rating, two issued a hold rating and three issued a buy rating to the company. Based on data from MarketBeat, Sixth Street Specialty Lending currently has an average rating of “Hold” and a consensus price target of $25.38.
Shares of NYSE TSLX opened at $21.64 on Friday. The stock has a market capitalization of $1.65 billion, a PE ratio of 8.59 and a beta of 1.08. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt ratio of 0.93. Sixth Street Specialty Lending has a 12 month minimum of $20.80 and a 12 month maximum of $24.74. The company has a 50-day moving average of $22.99 and a 200-day moving average of $23.43.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. increased its holdings of Sixth Street Specialty Lending shares by 816.3% in the fourth quarter. Baillie Gifford & Co. now owns 2,089,800 shares of the financial services provider valued at $48,880,000 after buying an additional 1,861,722 shares last quarter. FIL Ltd increased its stake in shares of Sixth Street Specialty Lending by 240.6% in the third quarter. FIL Ltd now owns 1,596,583 shares of the financial services provider valued at $35,460,000 after acquiring an additional 1,127,773 shares last quarter. Greenwich Investment Management Inc. acquired a new position in Sixth Street Specialty Lending during Q4 worth $12,192,000. Morgan Stanley increased its holding in shares of Sixth Street Specialty Lending by 12.5% in the second quarter. Morgan Stanley now owns 2,034,545 shares of the financial services provider valued at $45,147,000 after purchasing an additional 225,662 shares during the period. Finally, Belpointe Asset Management LLC increased its position in Sixth Street Specialty Lending shares by 165.9% during the first quarter. Belpointe Asset Management LLC now owns 353,216 shares of the financial services provider worth $8,227,000 after purchasing an additional 220,391 shares last quarter. 47.04% of the shares are held by institutional investors and hedge funds.
In other news, Director Richard A. Higginbotham bought 2,000 shares of the company in a trade on Monday, March 7. The shares were purchased at an average cost of $22.82 per share, for a total transaction of $45,640.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. 3.90% of the shares are currently held by insiders of the company.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Investors of record on Wednesday, June 15 will receive a dividend of $0.41 per share. The ex-dividend date is Tuesday, June 14. This represents a dividend of $1.64 on an annualized basis and a dividend yield of 7.58%. Sixth Street Specialty Lending’s payout ratio is currently 65.08%.
Sixth Street Specialty Loan Company Profile (Get a rating)
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, equity and structured products, structured equity non-controlling interests and common stock with an emphasis on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations and refinancing.
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