FS Investment Corp. (FSIC) Receives Consensus Recommendation of “Hold” from Analysts
Shares of FS Investment Corp. (NYSE:FSIC) have received an average rating of “Hold” from the ten research firms that are covering the stock. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $9.75.
Several analysts have commented on FSIC shares. TheStreet raised FS Investment Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 10th. DA Davidson reaffirmed a “buy” rating and set a $10.00 price objective on shares of FS Investment Corp. in a research note on Saturday, August 13th. Barclays PLC downgraded FS Investment Corp. from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $10.00 to $9.00 in a research note on Wednesday, September 7th. Zacks Investment Research raised FS Investment Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Finally, JPMorgan Chase & Co. upped their price objective on FS Investment Corp. from $9.00 to $9.50 and gave the company a “neutral” rating in a research note on Thursday, August 11th.
Institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in FS Investment Corp. during the second quarter valued at $31,603,000. Vaughan Nelson Investment Management L.P. increased its position in FS Investment Corp. by 374.0% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,000,825 shares of the company’s stock valued at $36,207,000 after buying an additional 3,156,825 shares during the last quarter. LPL Financial LLC increased its position in FS Investment Corp. by 22.6% in the first quarter. LPL Financial LLC now owns 9,604,792 shares of the company’s stock valued at $86,347,000 after buying an additional 1,771,458 shares during the last quarter. Strategic Wealth Advisors Group LLC increased its position in FS Investment Corp. by 398.2% in the second quarter. Strategic Wealth Advisors Group LLC now owns 2,198,967 shares of the company’s stock valued at $19,901,000 after buying an additional 1,757,557 shares during the last quarter. Finally, Advisor Group Inc. purchased a new position in FS Investment Corp. during the second quarter valued at $11,228,000. 29.92% of the stock is owned by hedge funds and other institutional investors.
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FS Investment Corp. (NYSE:FSIC) traded up 0.2859% on Monday, reaching $9.2965. 361,784 shares of the company’s stock traded hands. FS Investment Corp. has a 12 month low of $7.11 and a 12 month high of $10.05. The firm’s 50 day moving average price is $9.55 and its 200 day moving average price is $9.27.
FS Investment Corp. (NYSE:FSIC) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.01. FS Investment Corp. had a return on equity of 9.65% and a net margin of 10.27%. Analysts forecast that FS Investment Corp. will post $0.96 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Wednesday, September 21st were paid a $0.2228 dividend. This represents a $0.89 annualized dividend and a yield of 9.61%. The ex-dividend date was Monday, September 19th. FS Investment Corp.’s payout ratio is currently 468.45%.
About FS Investment Corp.
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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