Zacks Investment Research upgraded shares of Goldman Sachs BDC (NYSE:GSBD) from a hold rating to a buy rating in a report released on Wednesday. They currently have $24.00 target price on the financial services provider’s stock.
According to Zacks, “Goldman Sachs BDC, Inc. is a specialty finance company. The Company invests primarily in telecommunication services, electronic equipment, instruments and components and real estate management and development industries. Goldman Sachs BDC, Inc. is based in NEW YORK, United States. “
A number of other equities analysts have also recently weighed in on the company. ValuEngine cut Goldman Sachs BDC from a hold rating to a sell rating in a report on Saturday, June 2nd. Raymond James reissued a strong-buy rating on shares of Goldman Sachs BDC in a report on Wednesday, May 9th. Goldman Sachs Group raised Goldman Sachs BDC from an outperform rating to a strong-buy rating in a report on Tuesday, May 8th. National Alliance Securities raised Goldman Sachs BDC from a neutral rating to a buy rating in a report on Monday, May 7th. Finally, Credit Suisse Group cut their price target on Goldman Sachs BDC to $24.00 and set a neutral rating for the company in a report on Monday, May 7th. Three research analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $23.00.
Shares of Goldman Sachs BDC opened at $20.48 on Wednesday, MarketBeat.com reports. The firm has a market cap of $826.81 million, a P/E ratio of 9.89, a PEG ratio of 2.08 and a beta of 0.78. Goldman Sachs BDC has a 1 year low of $18.78 and a 1 year high of $23.20. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.72.
Goldman Sachs BDC (NYSE:GSBD) last released its quarterly earnings results on Thursday, May 3rd. The financial services provider reported $0.47 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.47. Goldman Sachs BDC had a return on equity of 11.09% and a net margin of 38.13%. The company had revenue of $35.54 million during the quarter, compared to analysts’ expectations of $36.19 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. research analysts predict that Goldman Sachs BDC will post 1.98 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.79%. Goldman Sachs BDC’s dividend payout ratio (DPR) is 86.96%.
Several large investors have recently made changes to their positions in the company. CIBC World Markets Inc. grew its position in shares of Goldman Sachs BDC by 33.3% in the first quarter. CIBC World Markets Inc. now owns 406,345 shares of the financial services provider’s stock valued at $7,773,000 after purchasing an additional 101,405 shares during the period. Atlantic Trust Group LLC grew its position in shares of Goldman Sachs BDC by 8,866.7% in the first quarter. Atlantic Trust Group LLC now owns 26,900 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 26,600 shares during the period. Legal & General Group Plc grew its position in shares of Goldman Sachs BDC by 17.5% in the first quarter. Legal & General Group Plc now owns 145,983 shares of the financial services provider’s stock valued at $2,799,000 after purchasing an additional 21,771 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Goldman Sachs BDC in the first quarter valued at $414,000. Finally, IHT Wealth Management LLC grew its position in shares of Goldman Sachs BDC by 39.6% in the first quarter. IHT Wealth Management LLC now owns 21,089 shares of the financial services provider’s stock valued at $401,000 after purchasing an additional 5,981 shares during the period. 35.21% of the stock is owned by institutional investors and hedge funds.
Goldman Sachs BDC Company Profile
Goldman Sachs BDC, Inc is a closed-end management investment company. The Company is a specialty finance company, which is focused on lending to middle-market companies. The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien, including first lien, unitranche, including last out portions of such loans, and second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments.
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