Zacks Research Cuts Earnings Estimates for Blue Owl Capital

Blue Owl Capital Co. (NYSE:OBDC) – Zacks Research cut their FY2024 EPS estimates for shares of Blue Owl Capital in a report released on Tuesday, November 19th. Zacks Research analyst K. Dey now anticipates that the company will post earnings per share of $1.88 for the year, down from their previous forecast of $1.91. The consensus estimate for Blue Owl Capital’s current full-year earnings is $1.90 per share. Zacks Research also issued estimates for Blue Owl Capital’s Q4 2024 earnings at $0.46 EPS and Q4 2025 earnings at $0.43 EPS.

A number of other equities research analysts have also commented on OBDC. Wells Fargo & Company increased their price target on Blue Owl Capital from $14.00 to $14.50 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Raymond James lowered Blue Owl Capital from an “outperform” rating to a “market perform” rating in a research note on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 price target on shares of Blue Owl Capital in a research report on Tuesday. Compass Point upgraded shares of Blue Owl Capital to a “strong-buy” rating in a research report on Monday, August 19th. Finally, Truist Financial reduced their target price on shares of Blue Owl Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Blue Owl Capital presently has an average rating of “Moderate Buy” and a consensus price target of $16.07.

Blue Owl Capital Price Performance

Shares of Blue Owl Capital stock opened at $15.06 on Wednesday. Blue Owl Capital has a 1-year low of $13.98 and a 1-year high of $16.91. The firm’s 50-day moving average price is $14.90 and its two-hundred day moving average price is $15.34. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 9.35 and a beta of 0.86.

Institutional Investors Weigh In On Blue Owl Capital

Several large investors have recently bought and sold shares of OBDC. National Bank of Canada FI bought a new position in shares of Blue Owl Capital during the second quarter worth $26,000. CWM LLC lifted its holdings in Blue Owl Capital by 98.6% during the second quarter. CWM LLC now owns 2,079 shares of the company’s stock worth $32,000 after acquiring an additional 1,032 shares in the last quarter. Rothschild Investment LLC bought a new position in Blue Owl Capital during the second quarter worth about $61,000. Zions Bancorporation N.A. acquired a new position in Blue Owl Capital in the second quarter valued at about $61,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Blue Owl Capital by 604.7% in the second quarter. EverSource Wealth Advisors LLC now owns 4,172 shares of the company’s stock worth $65,000 after acquiring an additional 3,580 shares in the last quarter. Institutional investors own 42.83% of the company’s stock.

Insider Activity at Blue Owl Capital

In other news, Director Edward H. Dalelio acquired 2,500 shares of Blue Owl Capital stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average price of $15.02 per share, with a total value of $37,550.00. Following the purchase, the director now directly owns 9,016 shares of the company’s stock, valued at $135,420.32. The trade was a 38.37 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.12% of the stock is currently owned by company insiders.

Blue Owl Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.83%. This is an increase from Blue Owl Capital’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, December 31st. Blue Owl Capital’s payout ratio is 91.93%.

About Blue Owl Capital

Blue Owl Capital Corporation is a business development company. It specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments.