TPG Specialty Lending, Inc. (NYSE:TSLX) Raised to “Strong-Buy” at BidaskClub
BidaskClub upgraded shares of TPG Specialty Lending, Inc. (NYSE:TSLX) from a buy rating to a strong-buy rating in a research report released on Tuesday, August 1st.
A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research raised TPG Specialty Lending from a hold rating to a buy rating and set a $23.00 target price for the company in a research report on Wednesday, July 5th. National Securities reaffirmed a neutral rating and set a $19.00 target price on shares of TPG Specialty Lending in a research report on Monday, May 8th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. TPG Specialty Lending has an average rating of Buy and an average target price of $20.17.
TPG Specialty Lending (NYSE:TSLX) traded up 0.33% during mid-day trading on Tuesday, hitting $21.33. 350,242 shares of the stock were exchanged. The company has a 50 day moving average price of $20.70 and a 200 day moving average price of $20.24. TPG Specialty Lending has a 52 week low of $17.00 and a 52 week high of $21.62.
TPG Specialty Lending (NYSE:TSLX) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.11. The firm had revenue of $58.82 million during the quarter, compared to analysts’ expectations of $49.41 million. TPG Specialty Lending had a return on equity of 12.68% and a net margin of 60.77%. The company’s revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. Equities analysts expect that TPG Specialty Lending will post $1.91 earnings per share for the current year.
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The firm also recently declared a special dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, August 29th. This is a positive change from TPG Specialty Lending’s previous special dividend of $0.04. This represents a dividend yield of 7.38%. TPG Specialty Lending’s payout ratio is 71.89%.
Several hedge funds and other institutional investors have recently modified their holdings of TSLX. Confluence Investment Management LLC raised its position in shares of TPG Specialty Lending by 2.2% in the first quarter. Confluence Investment Management LLC now owns 407,300 shares of the financial services provider’s stock worth $8,305,000 after buying an additional 8,813 shares during the period. Koshinski Asset Management Inc. acquired a new position in shares of TPG Specialty Lending during the first quarter worth approximately $215,000. Bank of Montreal Can acquired a new position in shares of TPG Specialty Lending during the first quarter worth approximately $775,000. Sigma Planning Corp acquired a new position in shares of TPG Specialty Lending during the first quarter worth approximately $261,000. Finally, Janney Montgomery Scott LLC raised its position in shares of TPG Specialty Lending by 14.5% in the first quarter. Janney Montgomery Scott LLC now owns 63,522 shares of the financial services provider’s stock worth $1,295,000 after buying an additional 8,024 shares during the period. Institutional investors own 64.35% 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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