KKR Financial Holdings LLC Downgraded by FBR Capital Markets to “Market Perform” (KFN)
KKR Financial Holdings LLC (NYSE:KFN) was downgraded by equities research analysts at FBR Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports. They currently have a $10.50 price objective on the stock, down from their previous price objective of $12.00. FBR Capital Markets’ price objective suggests a potential upside of 3.86% from the company’s current price.
Shares of KKR Financial Holdings LLC (NYSE:KFN) traded down 6.99% during mid-day trading on Thursday, hitting $10.11. The stock had a trading volume of 8,536,767 shares. KKR Financial Holdings LLC has a 52 week low of $8.92 and a 52 week high of $11.93. The stock has a 50-day moving average of $10.3 and a 200-day moving average of $10.70. The company has a market cap of $2.064 billion and a P/E ratio of 5.95.
KKR Financial Holdings LLC (NYSE:KFN) last released its earnings data on Wednesday, October 23rd. The company reported $0.16 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.36 by $0.20. The company had revenue of $128.70 million for the quarter. During the same quarter last year, the company posted $0.61 earnings per share. KKR Financial Holdings LLC’s revenue was down 10.2% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 8.70%. The ex-dividend date of this dividend is Monday, November 4th. This is a boost from KKR Financial Holdings LLC’s previous quarterly dividend of $0.21.
A number of other analysts have also recently weighed in on KFN. Analysts at Sandler O’Neill raised their price target on shares of KKR Financial Holdings LLC from $24.00 to $25.00 in a research note to investors on Tuesday, October 15th. They now have a “buy” rating on the stock. Separately, analysts at Credit Suisse cut their price target on shares of KKR Financial Holdings LLC from $22.00 to $21.00 in a research note to investors on Monday, October 14th. They now have a “neutral” rating on the stock. Finally, analysts at Stephens initiated coverage on shares of KKR Financial Holdings LLC in a research note to investors on Friday, September 13th. They set an “overweight” rating and a $12.50 price target on the stock. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $14.50.
KKR Financial Holdings LLC is a specialty finance company with focus in a range of asset classes. The Company invests in financial assets consisting primarily of below investment grade corporate debt, including senior secured and unsecured loans, mezzanine loans, high yield corporate bonds, distressed and stressed debt securities, marketable and non-marketable equity securities and credit default and total rate of return swaps.
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