TPG Specialty Lending (NYSE:TSLX) posted its quarterly earnings results on Wednesday, February 20th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.15, Morningstar.com reports. The business had revenue of $74.70 million for the quarter, compared to analyst estimates of $65.29 million. TPG Specialty Lending had a return on equity of 13.57% and a net margin of 45.44%. The business’s revenue was up 53.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 EPS.
NYSE TSLX traded up $0.02 during trading hours on Friday, hitting $19.75. The company had a trading volume of 310,757 shares, compared to its average volume of 307,483. TPG Specialty Lending has a fifty-two week low of $17.00 and a fifty-two week high of $21.24. The firm has a market capitalization of $1.29 billion, a PE ratio of 8.78, a P/E/G ratio of 10.17 and a beta of 0.72. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.56 and a quick ratio of 0.56.
The business also recently announced a special dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, February 28th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, February 27th. This is a positive change from TPG Specialty Lending’s previous special dividend of $0.05. This represents a yield of 7.43%. TPG Specialty Lending’s dividend payout ratio (DPR) is currently 69.33%.
Several equities research analysts have weighed in on the company. National Securities reaffirmed a “buy” rating and issued a $23.00 target price on shares of TPG Specialty Lending in a research report on Monday, February 25th. Zacks Investment Research raised TPG Specialty Lending from a “sell” rating to a “hold” rating in a research report on Saturday, February 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $21.75.
Several large investors have recently added to or reduced their stakes in TSLX. Synovus Financial Corp bought a new position in shares of TPG Specialty Lending in the fourth quarter worth $56,000. Pearl River Capital LLC bought a new position in shares of TPG Specialty Lending in the fourth quarter worth $67,000. PNC Financial Services Group Inc. grew its stake in shares of TPG Specialty Lending by 16.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,282 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 1,006 shares in the last quarter. Advisor Group Inc. grew its stake in shares of TPG Specialty Lending by 183.4% in the fourth quarter. Advisor Group Inc. now owns 8,090 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 5,235 shares in the last quarter. Finally, Financial Advocates Investment Management grew its stake in shares of TPG Specialty Lending by 29.4% in the fourth quarter. Financial Advocates Investment Management now owns 23,125 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 5,250 shares in the last quarter. 63.22% of the stock is owned by institutional investors.
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About TPG Specialty Lending
TPG Specialty Lending, Inc is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), mezzanine debt, 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.
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