Carlyle Secured Lending (NASDAQ:CGBD) Sets New 12-Month Low on Disappointing Earnings

Carlyle Secured Lending, Inc. (NASDAQ:CGBD)’s stock price reached a new 52-week low during trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $10.96 and last traded at $11.1010, with a volume of 238275 shares trading hands. The stock had previously closed at $11.45.

The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). Carlyle Secured Lending had a net margin of 30.18% and a return on equity of 9.24%. The business had revenue of $66.91 million during the quarter, compared to the consensus estimate of $67.26 million.

Carlyle Secured Lending Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 14.5%. The ex-dividend date is Tuesday, March 31st. Carlyle Secured Lending’s payout ratio is 135.59%.

Wall Street Analysts Forecast Growth

CGBD has been the subject of several analyst reports. Wall Street Zen raised Carlyle Secured Lending from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Wells Fargo & Company decreased their price target on Carlyle Secured Lending from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. B. Riley Financial lowered their price objective on Carlyle Secured Lending from $14.50 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Citigroup started coverage on Carlyle Secured Lending in a research note on Monday, December 8th. They issued a “market perform” rating on the stock. Finally, Citizens Jmp assumed coverage on Carlyle Secured Lending in a report on Monday, December 8th. They issued a “market perform” rating on the stock. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $13.80.

Institutional Investors Weigh In On Carlyle Secured Lending

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rossby Financial LCC acquired a new stake in Carlyle Secured Lending during the third quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. lifted its stake in Carlyle Secured Lending by 71.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,630 shares of the company’s stock valued at $36,000 after buying an additional 1,100 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Carlyle Secured Lending during the 3rd quarter worth approximately $37,000. Kestra Advisory Services LLC acquired a new stake in shares of Carlyle Secured Lending during the 4th quarter worth approximately $47,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Carlyle Secured Lending by 1,011.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,313 shares of the company’s stock worth $59,000 after buying an additional 3,925 shares during the period. Institutional investors own 24.51% of the company’s stock.

Carlyle Secured Lending Stock Down 3.7%

The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.90 and a current ratio of 0.90. The firm’s 50 day moving average price is $12.37 and its two-hundred day moving average price is $12.71. The company has a market cap of $562.04 million, a P/E ratio of 9.38 and a beta of 0.70.

About Carlyle Secured Lending

Carlyle Secured Lending, Inc (NASDAQ: CGBD) is a closed-end, non-diversified business development company that provides customized debt financing solutions to middle-market companies. Chartered under the Investment Company Act of 1940, the company invests primarily in floating-rate senior secured loans, including first-lien, unitranche and one-stop structures. Its objective is to generate current income and capital appreciation through disciplined credit selection and active portfolio management.

The firm focuses on U.S.