KKR Financial Holdings LLC Price Target Raised to $24.00 at Morgan Stanley (KFN)
Analysts at Morgan Stanley increased their price objective on shares of KKR Financial Holdings LLC (NYSE:KFN) from $23.00 to $24.00 in a research report issued to clients and investors on Friday, AnalystRatingsNetwork.com reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 138.10% from the company’s current price.
A number of other analysts have also recently weighed in on KFN. Analysts at FBR Capital Markets reiterated a “marketperform” rating on shares of KKR Financial Holdings LLC in a research note to investors on Thursday. They now have a $12.00 price target on the stock, up previously from $10.50. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of KKR Financial Holdings LLC in a research note to investors on Thursday. They now have a $11.50 price target on the stock, down previously from $13.50. Finally, analysts at ING Group downgraded shares of KKR Financial Holdings LLC from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. They now have a $10.50 price target on the stock, down previously from $12.00. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $15.56.
KKR Financial Holdings LLC (NYSE:KFN) opened at 10.08 on Friday. KKR Financial Holdings LLC has a 1-year low of $8.92 and a 1-year high of $11.93. The stock’s 50-day moving average is $10.3 and its 200-day moving average is $10.70. The company has a market cap of $2.057 billion and a price-to-earnings ratio of 5.54.
KKR Financial Holdings LLC (NYSE:KFN) last released its earnings data on Wednesday, October 23rd. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.36 by $0.20. The company had revenue of $128.70 million for the quarter. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was down 10.2% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, November 20th. Investors of record on Wednesday, November 6th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 8.73%. The ex-dividend date is Monday, November 4th. This is an increase from KKR Financial Holdings LLC’s previous quarterly dividend of $0.21.
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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