Sixth Street Specialty Lending (NYSE:TSLX) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Sixth Street Specialty Lending (NYSE:TSLX) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01, Briefing.com reports. The firm had revenue of $121.82 million during the quarter, compared to analysts’ expectations of $120.33 million. Sixth Street Specialty Lending had a return on equity of 13.74% and a net margin of 47.16%. During the same period in the previous year, the firm posted $0.58 earnings per share.

Sixth Street Specialty Lending Stock Down 0.4 %

Shares of NYSE:TSLX traded down $0.08 during trading on Thursday, hitting $20.79. The company’s stock had a trading volume of 236,744 shares, compared to its average volume of 375,029. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.03 and a current ratio of 2.03. Sixth Street Specialty Lending has a fifty-two week low of $19.02 and a fifty-two week high of $22.35. The stock’s 50-day moving average price is $21.49 and its two-hundred day moving average price is $21.39. The company has a market capitalization of $1.93 billion, a PE ratio of 8.42 and a beta of 1.05.

Sixth Street Specialty Lending Cuts Dividend

The business also recently disclosed a dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.06 per share. This represents a dividend yield of 7.63%. The ex-dividend date of this dividend was Friday, May 31st. Sixth Street Specialty Lending’s dividend payout ratio is presently 74.19%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods cut their price target on Sixth Street Specialty Lending from $23.50 to $23.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sixth Street Specialty Lending presently has a consensus rating of “Moderate Buy” and an average price target of $22.67.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.