Goldman Sachs BDC (NYSE:GSBD) Announces Earnings Results

Goldman Sachs BDC (NYSE:GSBD) released its earnings results on Thursday. The financial services provider reported $0.47 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $38.40 million during the quarter, compared to analyst estimates of $37.76 million. During the same quarter in the previous year, the business earned $0.50 EPS. The business’s revenue was up 3.1% on a year-over-year basis.

NYSE GSBD traded down $0.05 on Friday, reaching $19.87. The company’s stock had a trading volume of 163,341 shares, compared to its average volume of 100,183. The stock has a market capitalization of $802.83 million, a price-to-earnings ratio of 9.65, a PEG ratio of 10.00 and a beta of 0.99. The company’s 50-day moving average price is $19.89. Goldman Sachs BDC has a 52 week low of $17.73 and a 52 week high of $22.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.78 and a current ratio of 0.78.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.45 dividend. The ex-dividend date was Thursday, June 27th. This represents a $1.80 dividend on an annualized basis and a yield of 9.06%. Goldman Sachs BDC’s payout ratio is currently 87.38%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Manchester Financial Inc. increased its stake in Goldman Sachs BDC by 2.0% in the first quarter. Manchester Financial Inc. now owns 651,119 shares of the financial services provider’s stock valued at $13,374,000 after acquiring an additional 13,018 shares during the period. Confluence Investment Management LLC grew its stake in Goldman Sachs BDC by 1.2% during the first quarter. Confluence Investment Management LLC now owns 281,616 shares of the financial services provider’s stock worth $5,785,000 after buying an additional 3,262 shares during the last quarter. Legal & General Group Plc grew its stake in Goldman Sachs BDC by 13.7% during the fourth quarter. Legal & General Group Plc now owns 185,581 shares of the financial services provider’s stock worth $3,417,000 after buying an additional 22,375 shares during the last quarter. Azimuth Capital Management LLC grew its stake in Goldman Sachs BDC by 86.0% during the first quarter. Azimuth Capital Management LLC now owns 142,995 shares of the financial services provider’s stock worth $2,937,000 after buying an additional 66,135 shares during the last quarter. Finally, Greenwich Investment Management Inc. grew its stake in Goldman Sachs BDC by 28.0% during the second quarter. Greenwich Investment Management Inc. now owns 121,470 shares of the financial services provider’s stock worth $2,389,000 after buying an additional 26,595 shares during the last quarter. 34.87% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on GSBD shares. Raymond James restated an “outperform” rating and set a $22.00 price objective (down previously from $23.00) on shares of Goldman Sachs BDC in a report on Monday, May 13th. Wells Fargo & Co restated a “market perform” rating and set a $20.00 price objective (down previously from $20.50) on shares of Goldman Sachs BDC in a report 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 objective on the stock in a report on Tuesday, July 16th. Citigroup dropped their price objective on shares of Goldman Sachs BDC from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, National Securities restated a “buy” rating and set a $22.00 price objective on shares of Goldman Sachs BDC in a report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target 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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Earnings History for Goldman Sachs BDC (NYSE:GSBD)

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