FS KKR Capital (NYSE:FSK) Hits New 52-Week Low Following Analyst Downgrade

Shares of FS KKR Capital Corp. (NYSE:FSK) reached a new 52-week low on Friday after Royal Bank Of Canada lowered their price target on the stock from $17.00 to $15.00. Royal Bank Of Canada currently has a sector perform rating on the stock. FS KKR Capital traded as low as $10.79 and last traded at $10.7950, with a volume of 11559575 shares. The stock had previously closed at $11.29.

A number of other brokerages also recently weighed in on FSK. Weiss Ratings reissued a “hold (c-)” rating on shares of FS KKR Capital in a report on Thursday, January 22nd. Wells Fargo & Company lowered their price objective on shares of FS KKR Capital from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Friday. Keefe, Bruyette & Woods dropped their target price on shares of FS KKR Capital from $18.50 to $18.00 and set a “market perform” rating on the stock in a research note on Monday, November 10th. Wall Street Zen downgraded shares of FS KKR Capital from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Finally, Zacks Research raised shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 10th. Eight investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.50.

Institutional Trading of FS KKR Capital

Institutional investors have recently modified their holdings of the business. Atlantic Union Bankshares Corp purchased a new position in FS KKR Capital in the 2nd quarter valued at approximately $26,000. Beacon Capital Management Inc. purchased a new position in shares of FS KKR Capital in the second quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of FS KKR Capital in the fourth quarter valued at $26,000. Jessup Wealth Management Inc bought a new stake in shares of FS KKR Capital during the 4th quarter valued at $26,000. Finally, FNY Investment Advisers LLC purchased a new stake in FS KKR Capital during the 4th quarter worth about $28,000. 36.26% of the stock is currently owned by hedge funds and other institutional investors.

FS KKR Capital Price Performance

The business has a fifty day moving average of $13.98 and a 200-day moving average of $15.29. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.19. The firm has a market cap of $3.02 billion, a PE ratio of 359.83 and a beta of 0.84.

FS KKR Capital (NYSE:FSK) last posted its earnings results on Wednesday, February 25th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). FS KKR Capital had a net margin of 0.72% and a return on equity of 5.12%. The company had revenue of $348.00 million for the quarter, compared to analysts’ expectations of $361.59 million. During the same period in the previous year, the firm earned $0.66 EPS. As a group, research analysts predict that FS KKR Capital Corp. will post 2.89 earnings per share for the current year.

FS KKR Capital Dividend Announcement

The company also recently announced a special dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, March 18th will be issued a dividend of $0.03 per share. This represents a yield of 1,595.0%. The ex-dividend date of this dividend is Wednesday, March 18th. FS KKR Capital’s dividend payout ratio is 6,000.00%.

FS KKR Capital Company Profile

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.