BlackRock Kelso Capital Corp. (BKCC) Raised to Buy at Zacks Investment Research
BlackRock Kelso Capital Corp. (NASDAQ:BKCC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage currently has a $8.75 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 12.04% from the company’s previous close.
According to Zacks, “BlackRock Kelso Capital Corporation provides responsive, creative and flexible capital solutions to middle-market companies. BlackRock Kelso Capital provides middle-market companies with flexible financing solutions, including senior and junior secured, unsecured and subordinated debt securities and loans, and equity securities. The Companies strategy is to provide capital to meet our clients’ current and future needs across this spectrum, creating long-term partnerships with growing middle-market companies. “
Shares of BlackRock Kelso Capital Corp. (NASDAQ:BKCC) traded up 0.13% on Monday, reaching $7.81. The company had a trading volume of 192,245 shares. BlackRock Kelso Capital Corp. has a one year low of $7.15 and a one year high of $10.20. The company’s 50-day moving average is $8.37 and its 200-day moving average is $8.33.
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BlackRock Kelso Capital Corp. (NASDAQ:BKCC) last issued its earnings results on Wednesday, July 27th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. BlackRock Kelso Capital Corp. had a negative net margin of 36.05% and a positive return on equity of 11.25%. During the same quarter in the previous year, the business posted $0.23 EPS. On average, analysts predict that BlackRock Kelso Capital Corp. will post $1.03 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, September 15th. This represents a $0.84 dividend on an annualized basis and a yield of 10.76%. BlackRock Kelso Capital Corp.’s payout ratio is -142.37%.
A number of large investors have recently modified their holdings of BKCC. Taylor Frigon Capital Management LLC boosted its stake in shares of BlackRock Kelso Capital Corp. by 1.8% in the second quarter. Taylor Frigon Capital Management LLC now owns 92,720 shares of the company’s stock worth $721,000 after buying an additional 1,660 shares during the last quarter. Confluence Investment Management LLC boosted its stake in shares of BlackRock Kelso Capital Corp. by 1.1% in the second quarter. Confluence Investment Management LLC now owns 291,248 shares of the company’s stock worth $2,266,000 after buying an additional 3,272 shares during the last quarter. ING Groep NV boosted its stake in shares of BlackRock Kelso Capital Corp. by 0.4% in the second quarter. ING Groep NV now owns 899,334 shares of the company’s stock worth $6,997,000 after buying an additional 3,804 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of BlackRock Kelso Capital Corp. during the second quarter worth about $4,178,000. Finally, BlackRock Group LTD boosted its stake in shares of BlackRock Kelso Capital Corp. by 6.4% in the first quarter. BlackRock Group LTD now owns 347,573 shares of the company’s stock worth $3,271,000 after buying an additional 20,860 shares during the last quarter. 23.05% of the stock is currently owned by institutional investors and hedge funds.
About BlackRock Kelso Capital Corp.
BlackRock Capital Investment Corporation, formerly BlackRock Kelso Capital Corporation, is an externally-managed, non-diversified, closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation through its debt and equity investments.
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