Sixth Street Specialty Lending (NYSE:TSLX) Announces Earnings Results, Hits Estimates

Sixth Street Specialty Lending (NYSE:TSLX) issued its quarterly earnings data on Tuesday. The financial services provider reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57, Briefing.com reports. Sixth Street Specialty Lending had a net margin of 44.55% and a return on equity of 13.76%. The business had revenue of $119.22 million during the quarter, compared to analysts’ expectations of $119.85 million. During the same quarter in the previous year, the company earned $0.60 EPS.

Sixth Street Specialty Lending Stock Performance

NYSE:TSLX opened at $20.26 on Thursday. Sixth Street Specialty Lending has a twelve month low of $19.50 and a twelve month high of $22.35. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.07. The stock’s 50-day simple moving average is $20.68 and its 200 day simple moving average is $21.07. The firm has a market capitalization of $1.88 billion, a PE ratio of 8.58 and a beta of 1.06.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently declared a — dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a dividend yield of 9.1%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is currently 77.97%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TSLX. Wells Fargo & Company dropped their price target on shares of Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 target price on shares of Sixth Street Specialty Lending in a report on Thursday, August 15th. Finally, LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Wednesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $22.25.

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.