Blue Owl Capital (NYSE:OBDC) Issues Quarterly Earnings Results

Blue Owl Capital (NYSE:OBDC) released its quarterly earnings data on Wednesday. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.32 by $0.01, Zacks reports. The business had revenue of $392.06 million for the quarter, compared to analyst estimates of $383.82 million. Blue Owl Capital had a return on equity of 9.34% and a net margin of 20.79%.

Blue Owl Capital Stock Up 0.9%

Shares of NYSE:OBDC traded up $0.10 during trading on Friday, hitting $10.90. 2,455,070 shares of the company were exchanged, compared to its average volume of 4,597,728. Blue Owl Capital has a 12-month low of $9.81 and a 12-month high of $13.57. The stock has a market capitalization of $5.38 billion, a P/E ratio of 16.05 and a beta of 0.66. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.65 and a quick ratio of 0.65. The firm’s 50 day moving average price is $10.65 and its 200-day moving average price is $11.13.

Blue Owl Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, December 31st. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.01. This represents a $1.24 dividend on an annualized basis and a yield of 11.4%. Blue Owl Capital’s dividend payout ratio is 221.43%.

Analysts Set New Price Targets

A number of brokerages have weighed in on OBDC. Raymond James Financial set a $11.00 price objective on Blue Owl Capital in a report on Thursday, October 22nd. Lucid Cap Mkts raised Blue Owl Capital to a “strong-buy” rating in a research note on Friday, July 24th. Capital One Financial set a $13.00 price objective on shares of Blue Owl Capital in a report on Friday, July 24th. Finally, Wall Street Zen upgraded Blue Owl Capital from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.57.

Blue Owl Capital Company Profile

Blue Owl Capital Corporation (NYSE:OBDC) is a business development company focused on providing financing to middle-market companies. The company is externally managed by Blue Owl Credit Advisors LLC, an affiliate of Blue Owl Capital Inc, and seeks to generate income and capital appreciation through investments in privately negotiated transactions.

OBDC primarily invests in senior secured loans, including first-lien and unitranche debt, as well as second-lien loans and, to a lesser extent, equity investments and other securities.