FS KKR Capital Corp. (NYSE:FSK) Declares Quarterly Dividend of $0.70

FS KKR Capital Corp. (NYSE:FSK) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Investors of record on Wednesday, June 12th will be paid a dividend of 0.70 per share on Tuesday, July 2nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 13.59%. The ex-dividend date of this dividend is Wednesday, June 12th. This is a positive change from FS KKR Capital’s previous quarterly dividend of $0.64.

FS KKR Capital has a payout ratio of 9.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect FS KKR Capital to earn $2.61 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 9.2%.

FS KKR Capital Trading Down 0.1 %

Shares of NYSE FSK opened at $20.61 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.26 and a quick ratio of 2.26. The stock has a market capitalization of $5.77 billion, a P/E ratio of 8.59 and a beta of 1.24. FS KKR Capital has a 1-year low of $18.31 and a 1-year high of $20.99. The business has a fifty day moving average price of $19.68 and a 200 day moving average price of $19.78.

FS KKR Capital (NYSE:FSK) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $434.00 million during the quarter, compared to analysts’ expectations of $429.46 million. FS KKR Capital had a return on equity of 12.42% and a net margin of 37.06%. Equities research analysts expect that FS KKR Capital will post 2.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FSK. Wells Fargo & Company upgraded FS KKR Capital from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $21.00 in a research note on Wednesday, May 29th. B. Riley reiterated a “buy” rating and issued a $21.00 price target (up from $20.00) on shares of FS KKR Capital in a research note on Friday, May 10th. Compass Point cut FS KKR Capital from a “buy” rating to a “neutral” rating and decreased their price target for the company from $21.50 to $19.50 in a research note on Tuesday, February 27th. Keefe, Bruyette & Woods decreased their price target on FS KKR Capital from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Tuesday, April 16th. Finally, Royal Bank of Canada cut their price objective on FS KKR Capital from $21.00 to $20.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.28.

Insiders Place Their Bets

In other news, Director Barbara Adams bought 3,381 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average price of $20.10 per share, for a total transaction of $67,958.10. Following the completion of the transaction, the director now directly owns 22,082 shares in the company, valued at approximately $443,848.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by company insiders.

About FS KKR Capital

FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It provides customized credit solutions to private middle market U.S. companies. It invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S.