US specialty finance firm's Q2 net investment income per share rose to $0.38
Q2 earnings per share were $0.21; NAV per share fell to $12.06
Company declared Q3 base dividend of $0.32 and Q2 supplemental dividend of $0.03
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$0.21
Result Drivers
ACCRUAL STATUS CHANGES - Investment income rose primarily due to certain investments returning to accrual status after improved performance
LOWER INCENTIVE FEE - Net expenses decreased mainly due to a lower incentive fee driven by portfolio performance
PORTFOLIO CREDIT CHANGES - Investments on non-accrual status decreased to 2.9% of the portfolio at fair value, but increased to at amortized cost, reflecting ongoing credit challenges
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the corporate financial services peer group is "buy"
Wall Street's median 12-month price target for Goldman Sachs BDC Inc is $8.75, about 3.7% below its August 6 closing price of $9.09
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago
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