KKR Financial Holdings LLC Lowered to “Hold” at Deutsche Bank (KFN)
KKR Financial Holdings LLC (NYSE:KFN) was downgraded by stock analysts at Deutsche Bank from a “buy” rating to a “hold” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $11.50 target price on the stock, down from their previous target price of $12.75. Deutsche Bank’s price objective suggests a potential downside of 6.81% from the stock’s previous close.
KKR Financial Holdings LLC (NYSE:KFN) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, missing the 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.
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley raised their price target on shares of KKR Financial Holdings LLC from $24.00 to $27.00 in a research note to investors on Thursday, November 14th. They now have an “overweight” rating on the stock. Separately, analysts at Zacks downgraded shares of KKR Financial Holdings LLC from a “neutral” rating to an “underperform” rating in a research note to investors on Monday, October 28th. They now have a $9.60 price target on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. KKR Financial Holdings LLC presently has a consensus rating of “Hold” and a consensus price target of $15.82.
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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