Todays Report: Today: Goldman Sachs BDC Inc. (GSBD) Lowered by National Securities

Today: Goldman Sachs BDC Inc. (GSBD) Lowered by National Securities

Goldman Sachs BDC Inc. (NYSE:GSBD) was downgraded by research analysts at National Securities from a “buy” rating to a “neutral” rating in a note issued to investors on Monday. They presently have a $23.00 target price on the stock.

The analysts wrote, “Downgrade: We are downgrading Goldman Sachs BDC Inc. (GSBD) to NEUTRAL from BUY and maintaining our $23 price target. This downgrade is solely a result of valuation and our investment thesis remains in-tact. We are maintaining our NII/share estimate for 2016 of $2.13 and our 2017 NII/share estimate of $2.15. Our $23 price target implies an estimated 2017 P/NII of 10.7x, dividend yield of 7.8%, and P/NAV of 1.19x compared to the BDC sector averages of 9.9x, 9.4%, and 0.90x, respectively.”

A number of other brokerages also recently weighed in on GSBD. Zacks Investment Research raised shares of Goldman Sachs BDC from a “sell” rating to a “hold” rating and set a $25.00 price objective for the company in a research report on Tuesday, November 8th. Citigroup Inc. boosted their price objective on shares of Goldman Sachs BDC from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, October 5th. Bank of America Corp. cut shares of Goldman Sachs BDC from a “neutral” rating to an “underperform” rating and set a $20.50 target price for the company. in a research report on Thursday, November 3rd. Finally, Goldman Sachs Group Inc. cut shares of Goldman Sachs BDC from a “neutral” rating to an “underperform” rating and set a $20.50 target price for the company. in a research report on Thursday, November 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Goldman Sachs BDC presently has an average rating of “Hold” and a consensus target price of $22.08.

Shares of Goldman Sachs BDC (NYSE:GSBD) opened at 23.00 on Monday. The company has a 50-day moving average of $21.91 and a 200-day moving average of $20.90. Goldman Sachs BDC has a 12 month low of $16.66 and a 12 month high of $23.00.

Goldman Sachs BDC (NYSE:GSBD) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Goldman Sachs BDC had a net margin of 28.66% and a return on equity of 11.88%. The business earned $33.95 million during the quarter, compared to the consensus estimate of $26.37 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities research analysts forecast that Goldman Sachs BDC will post $2.10 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Saturday, December 31st will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.83%. The ex-dividend date is Wednesday, December 28th. Goldman Sachs BDC’s dividend payout ratio (DPR) is presently 181.82%.

In related news, Director Jaime Ardila acquired 4,683 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was acquired at an average cost of $21.52 per share, for a total transaction of $100,778.16. Following the completion of the acquisition, the director now directly owns 4,683 shares of the company’s stock, valued at approximately $100,778.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.35% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Berson & Corrado Investment Advisors LLC boosted its position in Goldman Sachs BDC by 4.2% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 24,910 shares of the company’s stock valued at $498,000 after buying an additional 1,000 shares during the period. CIBC World Markets Inc. boosted its position in Goldman Sachs BDC by 156.8% in the second quarter. CIBC World Markets Inc. now owns 35,949 shares of the company’s stock valued at $719,000 after buying an additional 21,948 shares during the period. Confluence Investment Management LLC boosted its position in Goldman Sachs BDC by 30.1% in the second quarter. Confluence Investment Management LLC now owns 218,493 shares of the company’s stock valued at $4,368,000 after buying an additional 50,514 shares during the period. Muzinich & Co. Inc. boosted its position in Goldman Sachs BDC by 7.9% in the second quarter. Muzinich & Co. Inc. now owns 435,386 shares of the company’s stock valued at $8,703,000 after buying an additional 31,976 shares during the period. Finally, Starfire Investment Advisers Inc. bought a new position in Goldman Sachs BDC during the second quarter valued at about $248,000. Institutional investors and hedge funds own 33.48% of the company’s stock.

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