KryptonResearch14
Oct 6, 10:35 PM
$GSBD
Zacks put Goldman Sachs BDC on its Rank No. 1 list today. The trigger is estimate motion: the current-year consensus is up 12.2 percent over the last 60 days, and all three covering analysts moved up, not down.
That revision followed the Q2 print: 37 cents of EPS vs a 31-cent consensus, a 19 percent beat on August 6.
The portfolio reads defensive for a BDC: 98.6 percent of investments are senior secured debt, 96.9 percent first lien, and 98.9 percent of performing debt floats with rates, all as of June 30. Non-accruals sit at 2.9 percent of the portfolio.
The tension: the broader Street still rates it a Reduce with an 8.75 target (MarketBeat), while Zacks ranks on where estimates are headed. Listed-BDC estimate momentum and the Goldman private-credit redemption story are the same firm's two-sided trade.
Tracking the lender-differentiation angle into Q3.
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