Zacks Investment Research downgraded shares of TPG Specialty Lending, Inc. (NYSE:TSLX) from a buy rating to a hold rating in a research report report published on Saturday.
According to Zacks, “TPG Specialty Lending, Inc. is a specialty finance company. It is focused on providing fully-underwritten capital solutions to middle market companies. The Company specializes in standalone first-lien loans, standalone second-lien loans, mezzanine loans, unitranche loans. TPG Specialty Lending, Inc. is based in Fort Worth, Texas. “
Several other equities research analysts have also commented on TSLX. BidaskClub lowered shares of TPG Specialty Lending from a sell rating to a strong sell rating in a research note on Thursday, November 9th. SunTrust Banks, Inc. restated a buy rating and issued a $22.00 price target (up previously from $21.00) on shares of TPG Specialty Lending in a research note on Wednesday, August 9th. National Securities restated a neutral rating and issued a $19.00 price target on shares of TPG Specialty Lending in a research note on Monday, August 7th. Finally, JMP Securities raised their price target on shares of TPG Specialty Lending from $21.50 to $22.00 and gave the company an outperform rating in a research note on Monday, August 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. TPG Specialty Lending has a consensus rating of Hold and an average target price of $21.75.
TPG Specialty Lending (NYSE TSLX) opened at $20.43 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.58. TPG Specialty Lending has a twelve month low of $17.93 and a twelve month high of $21.74. The stock has a market cap of $1,225.58, a PE ratio of 10.07, a price-to-earnings-growth ratio of 3.40 and a beta of 0.69.
TPG Specialty Lending (NYSE:TSLX) last issued its earnings results on Tuesday, November 7th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.08. TPG Specialty Lending had a net margin of 56.43% and a return on equity of 12.63%. The firm had revenue of $48.86 million for the quarter, compared to analysts’ expectations of $48.58 million. During the same quarter last year, the company posted $0.51 earnings per share. equities analysts expect that TPG Specialty Lending will post 1.99 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.56 annualized dividend and a dividend yield of 7.64%. TPG Specialty Lending’s payout ratio is currently 79.59%.
Several hedge funds and other institutional investors have recently bought and sold shares of TSLX. Greenwich Investment Management Inc. acquired a new position in shares of TPG Specialty Lending during the second quarter valued at approximately $2,305,000. Strs Ohio increased its stake in shares of TPG Specialty Lending by 2.2% during the second quarter. Strs Ohio now owns 4,551,809 shares of the financial services provider’s stock valued at $93,084,000 after acquiring an additional 96,815 shares during the period. OxFORD Asset Management LLP increased its stake in shares of TPG Specialty Lending by 767.3% during the third quarter. OxFORD Asset Management LLP now owns 106,007 shares of the financial services provider’s stock valued at $2,203,000 after acquiring an additional 93,784 shares during the period. LSV Asset Management increased its stake in shares of TPG Specialty Lending by 198.8% during the second quarter. LSV Asset Management now owns 124,600 shares of the financial services provider’s stock valued at $2,548,000 after acquiring an additional 82,900 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of TPG Specialty Lending by 163.1% during the second quarter. Goldman Sachs Group Inc. now owns 109,508 shares of the financial services provider’s stock valued at $2,239,000 after acquiring an additional 67,891 shares during the period. Institutional investors and hedge funds own 62.73% of the company’s stock.
About TPG Specialty Lending
TPG Specialty Lending, Inc is an externally managed, closed-end, non-diversified management investment company. The Company is a specialty finance company focused on lending to middle-market companies. It seeks to generate current income primarily in the United States-domiciled middle-market companies through direct originations of senior secured loans and originations of mezzanine and unsecured loans and investments in corporate bonds and equity securities.
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