FS KKR Capital (NYSE:FSK) Price Target Raised to $11.00

FS KKR Capital (NYSE:FSK) had its price target boosted by JPMorgan Chase & Co. from $9.50 to $11.00 in a report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also recently commented on FSK. Zacks Research upgraded shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Truist Financial raised their price objective on FS KKR Capital from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Friday, August 7th. Capital One Financial set a $12.00 price objective on FS KKR Capital in a report on Friday, August 7th. Weiss Ratings restated a “sell (d+)” rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $13.00 price target (up from $11.00) on shares of FS KKR Capital in a research report on Wednesday, August 12th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $11.43.

FS KKR Capital Price Performance

FSK stock opened at $11.92 on Wednesday. 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 one year low of $9.72 and a one year high of $18.25. The stock has a market cap of $3.29 billion, a PE ratio of -8.83 and a beta of 0.83. The firm has a 50 day simple moving average of $11.00 and a two-hundred day simple moving average of $11.12.

FS KKR Capital (NYSE:FSK) last released its earnings results on Thursday, August 6th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $290.00 million for the quarter, compared to analysts’ expectations of $286.75 million. FS KKR Capital had a positive return on equity of 9.70% and a negative net margin of 28.52%.During the same quarter in the prior year, the firm earned ($0.75) earnings per share. On average, analysts predict that FS KKR Capital will post 1.64 EPS 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 dividend of $0.44 per share. This is an increase from FS KKR Capital’s previous quarterly dividend of $0.42. This represents a $1.76 annualized dividend and a yield of 14.8%. The ex-dividend date of this dividend is Wednesday, September 16th. FS KKR Capital’s payout ratio is -124.44%.

Institutional Trading of FS KKR Capital

A number of hedge funds and other institutional investors have recently modified their holdings of FSK. Continuum Advisory LLC bought a new stake in FS KKR Capital during the second quarter worth about $76,000. Beacon Financial Advisory LLC lifted its holdings in shares of FS KKR Capital by 1.7% during the second quarter. Beacon Financial Advisory LLC now owns 61,266 shares of the company’s stock valued at $643,000 after purchasing an additional 1,000 shares during the last quarter. Secure Asset Management LLC lifted its holdings in shares of FS KKR Capital by 7.1% during the second quarter. Secure Asset Management LLC now owns 27,178 shares of the company’s stock valued at $285,000 after purchasing an additional 1,807 shares during the last quarter. Triumph Capital Management grew its stake in shares of FS KKR Capital by 98.1% in the 2nd quarter. Triumph Capital Management now owns 2,575 shares of the company’s stock worth $27,000 after buying an additional 1,275 shares during the last quarter. Finally, Sigma Planning Corp grew its stake in shares of FS KKR Capital by 12.4% in the 2nd quarter. Sigma Planning Corp now owns 124,538 shares of the company’s stock worth $1,308,000 after buying an additional 13,767 shares during the last quarter. 36.26% of the stock is owned by hedge funds and other institutional investors.

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.