FS KKR Capital Corp. (NYSE:FSK) Receives Average Rating of “Reduce” from Brokerages

Shares of FS KKR Capital Corp. (NYSE:FSK) have received an average rating of “Reduce” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $11.4286.

Several equities analysts recently commented on FSK shares. Zacks Research raised FS KKR Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Wall Street Zen raised shares of FS KKR Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings reissued a “sell (d+)” rating on shares of FS KKR Capital in a research report on Friday, August 28th. Royal Bank Of Canada restated a “sector perform” rating and issued a $13.00 target price (up from $11.00) on shares of FS KKR Capital in a research note on Wednesday, August 12th. Finally, Wells Fargo & Company lowered their price target on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th.

Institutional Trading of FS KKR Capital

Several large investors have recently modified their holdings of the business. Jessup Wealth Management Inc acquired a new position in shares of FS KKR Capital in the fourth quarter worth about $26,000. Triumph Capital Management grew its stake in FS KKR Capital by 98.1% during the 2nd quarter. Triumph Capital Management now owns 2,575 shares of the company’s stock valued at $27,000 after purchasing an additional 1,275 shares in the last quarter. Harborfront Financial Group LLC acquired a new stake in FS KKR Capital during the 2nd quarter valued at approximately $30,000. Basepoint Wealth LLC purchased a new stake in FS KKR Capital during the 4th quarter worth approximately $31,000. Finally, Smartleaf Asset Management LLC increased its holdings in FS KKR Capital by 201.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,678 shares of the company’s stock worth $40,000 after purchasing an additional 1,789 shares during the last quarter. 36.26% of the stock is currently owned by institutional investors and hedge funds.

FS KKR Capital Trading Down 0.0%

NYSE:FSK opened at $12.27 on Thursday. The business’s 50-day moving average is $11.30 and its two-hundred day moving average is $11.04. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.28 and a quick ratio of 2.28. FS KKR Capital has a 12 month low of $9.72 and a 12 month high of $18.21. The firm has a market capitalization of $3.39 billion, a PE ratio of -9.09 and a beta of 0.83.

FS KKR Capital (NYSE:FSK) last issued its earnings results on Thursday, August 6th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. FS KKR Capital had a positive return on equity of 9.70% and a negative net margin of 28.52%.The company had revenue of $290.00 million during the quarter, compared to the consensus estimate of $286.75 million. During the same quarter in the prior year, the business earned ($0.75) earnings per share. Research analysts predict that FS KKR Capital will post 1.64 earnings per share for the current fiscal year.

FS KKR Capital Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Wednesday, September 16th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 14.3%. The ex-dividend date of this dividend is Wednesday, September 16th. This is an increase from FS KKR Capital’s previous quarterly dividend of $0.42. FS KKR Capital’s dividend payout ratio is currently -124.44%.

About FS KKR Capital

FS KKR Capital Corp (NYSE:FSK) is a closed-end, externally managed business development company that primarily invests in private middle-market U.S. companies. The firm seeks to generate current income and capital appreciation by structuring investments in floating-rate senior secured loans, unitranche financings, second lien debt and mezzanine instruments. As a business development company, FSK provides financing solutions designed to support growth initiatives, acquisitions, leveraged buyouts and recapitalizations for privately held enterprises.

Established in 2018 through a strategic partnership between FS Investment Corporation and KKR Credit Advisors, a division of global investment firm KKR & Co Inc, FSK combines the credit underwriting capabilities of KKR’s global platform with FS’s expertise in private credit markets.