Zacks Investment Research Downgrades FS Investment Corporation (FSIC) to Hold
Zacks Investment Research lowered shares of FS Investment Corporation (NYSE:FSIC) from a buy rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “FS Investment Corporation is a business development company. It primarily originates and invests in senior secured loans and other securities of private U.S. companies, with the investment objective of generating current income and, to a lesser extent, long-term capital appreciation. FS Investment Corporation is based in United States. “
A number of other research analysts also recently commented on FSIC. National Securities reiterated a neutral rating and issued a $10.00 price objective on shares of FS Investment Corporation in a report on Monday, August 14th. ValuEngine upgraded FS Investment Corporation from a hold rating to a buy rating in a report on Monday, October 2nd. BidaskClub downgraded FS Investment Corporation from a sell rating to a strong sell rating in a report on Tuesday, August 8th. Finally, Keefe, Bruyette & Woods set a $9.00 price target on FS Investment Corporation and gave the stock a hold rating in a research note on Thursday, October 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. FS Investment Corporation presently has an average rating of Hold and an average target price of $9.56.
FS Investment Corporation (FSIC) traded up $0.15 on Tuesday, hitting $8.20. The stock had a trading volume of 1,309,810 shares, compared to its average volume of 1,103,663. FS Investment Corporation has a fifty-two week low of $7.65 and a fifty-two week high of $10.80. The stock has a market cap of $2,010.00, a P/E ratio of 9.59, a P/E/G ratio of 3.40 and a beta of 0.94. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.74.
FS Investment Corporation (NYSE:FSIC) last released its quarterly earnings data on Thursday, November 9th. The financial services provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. FS Investment Corporation had a return on equity of 8.97% and a net margin of 52.49%. The business had revenue of $103.69 million for the quarter, compared to the consensus estimate of $97.03 million. analysts forecast that FS Investment Corporation will post 0.8 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $0.76 dividend on an annualized basis and a yield of 9.27%. FS Investment Corporation’s dividend payout ratio is presently 100.00%.
Large investors have recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC grew its stake in FS Investment Corporation by 12.6% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 630,005 shares of the financial services provider’s stock worth $5,702,000 after buying an additional 70,315 shares during the last quarter. Commerce Bank purchased a new position in FS Investment Corporation during the 2nd quarter worth approximately $3,213,000. JPMorgan Chase & Co. grew its stake in FS Investment Corporation by 1,053.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 144,136 shares of the financial services provider’s stock worth $1,319,000 after buying an additional 131,638 shares during the last quarter. Koch Industries Inc. grew its stake in FS Investment Corporation by 737.1% during the 2nd quarter. Koch Industries Inc. now owns 300,044 shares of the financial services provider’s stock worth $270,000 after buying an additional 264,201 shares during the last quarter. Finally, Virtu KCG Holdings LLC purchased a new position in FS Investment Corporation during the 2nd quarter worth approximately $184,000. Hedge funds and other institutional investors own 33.14% of the company’s stock.
FS Investment Corporation Company Profile
FS Investment Corporation is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate current income and long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.
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