B. Riley Cuts Earnings Estimates for Carlyle Secured Lending

Carlyle Secured Lending, Inc. (NASDAQ:CGBD - Free Report) - Stock analysts at B. Riley lowered their FY2024 earnings per share (EPS) estimates for Carlyle Secured Lending in a report released on Thursday, November 7th. B. Riley analyst B. Rowe now expects that the company will earn $1.98 per share for the year, down from their previous estimate of $2.04. The consensus estimate for Carlyle Secured Lending's current full-year earnings is $1.96 per share. B. Riley also issued estimates for Carlyle Secured Lending's Q4 2024 earnings at $0.43 EPS.

Carlyle Secured Lending (NASDAQ:CGBD - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.01. Carlyle Secured Lending had a net margin of 44.19% and a return on equity of 12.74%. The firm had revenue of $55.97 million for the quarter, compared to analyst estimates of $39.92 million. During the same period last year, the company posted $0.52 EPS.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company decreased their target price on Carlyle Secured Lending from $17.00 to $16.00 and set an "equal weight" rating for the company in a research note on Thursday. JPMorgan Chase & Co. downgraded Carlyle Secured Lending from a "neutral" rating to an "underweight" rating and set a $17.00 price target on the stock. in a research report on Monday, July 29th.

Carlyle Secured Lending Stock Performance

NASDAQ:CGBD traded down $0.11 during trading hours on Friday, hitting $16.47. 192,527 shares of the company traded hands, compared to its average volume of 210,783. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $836.51 million, a price-to-earnings ratio of 8.37 and a beta of 1.59. The firm has a 50-day moving average of $17.15 and a 200 day moving average of $17.39. Carlyle Secured Lending has a twelve month low of $14.14 and a twelve month high of $18.74.

Hedge Funds Weigh In On Carlyle Secured Lending

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Carlyle Secured Lending by 2.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 258,774 shares of the company's stock worth $4,213,000 after buying an additional 6,527 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Carlyle Secured Lending by 15.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 51,117 shares of the company's stock worth $832,000 after purchasing an additional 6,947 shares in the last quarter. Condor Capital Management raised its position in Carlyle Secured Lending by 7.9% in the first quarter. Condor Capital Management now owns 227,327 shares of the company's stock valued at $3,701,000 after purchasing an additional 16,714 shares during the period. Kingsview Wealth Management LLC acquired a new position in shares of Carlyle Secured Lending during the 1st quarter worth approximately $171,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of Carlyle Secured Lending by 13.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 46,578 shares of the company's stock worth $759,000 after acquiring an additional 5,500 shares during the period. Hedge funds and other institutional investors own 24.51% of the company's stock.

Carlyle Secured Lending Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.80 annualized dividend and a dividend yield of 10.93%. Carlyle Secured Lending's dividend payout ratio is presently 80.81%.

About Carlyle Secured Lending

Carlyle Secured Lending, Inc is business development company specializing in first lien debt, senior secured loans, second lien senior secured loan unsecured debt, mezzanine debt and investments in equities. It specializes in directly investing. It specializes in middle market. It targets healthcare and pharmaceutical, aerospace and defense, high tech industries, business services, software, beverage food and tobacco, hotel gamming and leisure, banking finance insurance and in real estate sector.