Goldman Sachs BDC (NYSE:GSBD) released its earnings results on Thursday. The financial services provider reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.01, Bloomberg Earnings reports. Goldman Sachs BDC had a net margin of 24.25% and a return on equity of 12.00%. The business had revenue of $38.40 million during the quarter, compared to analysts’ expectations of $37.76 million. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue was up 3.1% on a year-over-year basis.
GSBD traded down $0.05 during midday trading on Friday, reaching $19.87. 163,341 shares of the company’s stock were exchanged, compared to its average volume of 100,183. The company has a market cap of $802.83 million, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 10.00 and a beta of 0.99. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.01. Goldman Sachs BDC has a one year low of $17.73 and a one year high of $22.75. The company’s 50-day moving average is $19.89.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 9.06%. The ex-dividend date was Thursday, June 27th. Goldman Sachs BDC’s dividend payout ratio is 87.38%.
Several hedge funds and other institutional investors have recently bought and sold shares of GSBD. Wedbush Securities Inc. acquired a new stake in shares of Goldman Sachs BDC during the first quarter worth approximately $204,000. Great West Life Assurance Co. Can increased its holdings in shares of Goldman Sachs BDC by 13.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 11,976 shares of the financial services provider’s stock worth $213,000 after buying an additional 1,409 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of Goldman Sachs BDC during the second quarter worth approximately $252,000. Northern Oak Wealth Management Inc. increased its holdings in shares of Goldman Sachs BDC by 33.0% during the first quarter. Northern Oak Wealth Management Inc. now owns 14,100 shares of the financial services provider’s stock worth $290,000 after buying an additional 3,500 shares in the last quarter. Finally, MML Investors Services LLC increased its holdings in shares of Goldman Sachs BDC by 19.0% during the fourth quarter. MML Investors Services LLC now owns 16,112 shares of the financial services provider’s stock worth $296,000 after buying an additional 2,577 shares in the last quarter. 34.87% of the stock is owned by institutional investors.
A number of research analysts have commented on GSBD shares. Raymond James restated an “outperform” rating and set a $22.00 price target (down previously from $23.00) on shares of Goldman Sachs BDC in a research note on Monday, May 13th. Zacks Investment Research upgraded shares of Goldman Sachs BDC from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Tuesday, July 16th. Wells Fargo & Co restated a “market perform” rating and set a $20.00 price target (down previously from $20.50) on shares of Goldman Sachs BDC in a research note on Monday, May 13th. Citigroup cut their price target on shares of Goldman Sachs BDC from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, National Securities restated a “buy” rating and set a $22.00 price target on shares of Goldman Sachs BDC in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $21.40.
Goldman Sachs BDC Company Profile
Goldman Sachs BDC, Inc is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities.
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