We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Owl Rock Capital's (ORCC) Q1 Earnings Miss, Decline Y/Y
Read MoreHide Full Article
Owl Rock Capital Corporation’s first-quarter 2021 earnings per share of 26 cents missed the Zacks Consensus Estimate of 29 cents by 10.3%. Moreover, the same tumbled 29.7% year over year.
This downside was mainly due to the COVID-led turmoil in the financial markets and higher expenses.
Owl Rock Capital Corporation Price, Consensus and EPS Surprise
In the quarter, the company’s total investment income was $222, up 8.3% year over year. This upside was on the back of an increase in the investment portfolio as well as higher dividend income.
New investment commitments were $863.5 million, up 18.1% year over year.
The company concluded the first quarter with investments in 120 portfolio companies with an aggregate fair value of $11.2 billion. As of Mar 31, 2021, the average investment size in each portfolio company was $93.7 million based on fair value.
Total operating expenses of $117.8 million rose 19.1% year over year due to higher management fees and interest expenses. Other factors are expiration of the management fee and incentive fee waivers.
Dividend Update
The company declared a second-quarter dividend of 31 cents per share for its shareholders of record on Jun 30, 2021. The amount will be paid out on or before Aug 13, 2021.
Financial Update (as of Mar 31, 2021)
The company’s interest expenses of $48 million increased 41.6% year over year due to higher average daily borrowings. However, the same was offset to some extent by a decline in the average interest rate.
The company had cash and restricted cash worth $255.3 million, an amount of $5.6 billion as total principal value of debt outstanding and $1.4 billion of undrawn capacity under its credit facilities.
It had total assets worth $11.6 billion, up 2.5% from the level at 2020 end. It ended the first quarter with $5.5 billion debt, up 4.8% from the level at last-year end.
Of the finance sector players that have reported first-quarter results so far, the bottom-line results of American Express Company (AXP - Free Report) , Synchrony Financial (SYF - Free Report) and Discover Financial Services (DFS - Free Report) beat the respective Zacks Consensus Estimate.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Image: Bigstock
Owl Rock Capital's (ORCC) Q1 Earnings Miss, Decline Y/Y
Owl Rock Capital Corporation’s first-quarter 2021 earnings per share of 26 cents missed the Zacks Consensus Estimate of 29 cents by 10.3%. Moreover, the same tumbled 29.7% year over year.
This downside was mainly due to the COVID-led turmoil in the financial markets and higher expenses.
Owl Rock Capital Corporation Price, Consensus and EPS Surprise
Owl Rock Capital Corporation price-consensus-eps-surprise-chart | Owl Rock Capital Corporation Quote
Quarter in Detail
In the quarter, the company’s total investment income was $222, up 8.3% year over year. This upside was on the back of an increase in the investment portfolio as well as higher dividend income.
New investment commitments were $863.5 million, up 18.1% year over year.
The company concluded the first quarter with investments in 120 portfolio companies with an aggregate fair value of $11.2 billion. As of Mar 31, 2021, the average investment size in each portfolio company was $93.7 million based on fair value.
Total operating expenses of $117.8 million rose 19.1% year over year due to higher management fees and interest expenses. Other factors are expiration of the management fee and incentive fee waivers.
Dividend Update
The company declared a second-quarter dividend of 31 cents per share for its shareholders of record on Jun 30, 2021. The amount will be paid out on or before Aug 13, 2021.
Financial Update (as of Mar 31, 2021)
The company’s interest expenses of $48 million increased 41.6% year over year due to higher average daily borrowings. However, the same was offset to some extent by a decline in the average interest rate.
The company had cash and restricted cash worth $255.3 million, an amount of $5.6 billion as total principal value of debt outstanding and $1.4 billion of undrawn capacity under its credit facilities.
It had total assets worth $11.6 billion, up 2.5% from the level at 2020 end.
It ended the first quarter with $5.5 billion debt, up 4.8% from the level at last-year end.
Zacks Rank & Peer Releases
Owl Rock Capital currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Of the finance sector players that have reported first-quarter results so far, the bottom-line results of American Express Company (AXP - Free Report) , Synchrony Financial (SYF - Free Report) and Discover Financial Services (DFS - Free Report) beat the respective Zacks Consensus Estimate.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2021 today >>