Several analysts have recently updated their ratings and price targets for Fifth Street Finance Corp. (NASDAQ: FSC):

  • 10/10/2017 – Fifth Street Finance Corp. was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “FIFTH STREET FINANCE CORP. is a specialty finance company that lends to and invests in small and mid-sized companies in connection with an investment by private equity sponsors. Fifth Street Finance Corp.’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments and capital appreciation from its equity investments. “
  • 10/6/2017 – Fifth Street Finance Corp. had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $4.00 price target on the stock.
  • 10/4/2017 – Fifth Street Finance Corp. was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 10/2/2017 – Fifth Street Finance Corp. was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 9/6/2017 – Fifth Street Finance Corp. was upgraded by analysts at TheStreet from a “d+” rating to a “c” rating.
  • 9/1/2017 – Fifth Street Finance Corp. was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
  • 8/15/2017 – Fifth Street Finance Corp. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “FIFTH STREET FINANCE CORP. is a specialty finance company that lends to and invests in small and mid-sized companies in connection with an investment by private equity sponsors. Fifth Street Finance Corp.’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments and capital appreciation from its equity investments. “
  • 8/14/2017 – Fifth Street Finance Corp. had its “buy” rating reaffirmed by analysts at National Securities. They now have a $7.00 price target on the stock. They wrote, “• For fiscal 3Q17, Fifth Street posted NII/share of $0.14/share, besting our estimate by a penny and ahead of the $0.125/share quarterly dividend payable in fiscal 4Q17. NAV/share decreased by 0.9% linked Q/Q to $7.17 which came out ahead of our estimate of $7.04 largely as a result of realized losses being less than we had forecast. While we continue to expect NAV/share to decline to $6.90 for the end of fiscal 2017, the following quarter will be the last (we hope) during which FSC will be managed by Fifth Street Asset Management (NASD: FSAM – NR – $3.70). The atrocious manner in which FSAM has run FSC has been the biggest overhang on the stock and we continue to think that when Oaktree (NYSE: OAK– NR – $46.55) takes over both the optics and operations for FSC will improve dramatically.

    • Non-accruals remained flat on the quarter at $190.5 million at amortized cost (10.1% of the portfolio) across seven different companies from $190.1 million the quarter prior. We expect non-accruals to remain stable although realized losses will likely increase as previous non-accruals are sold and/or restructured.

    • We are revising our fiscal 2017 NII/share estimate to $0.57 from $0.55 and our fiscal 2018 NII/share estimate to $0.56 from $0.54. “

Shares of Fifth Street Finance Corp. (NASDAQ:FSC) remained flat at $5.55 during midday trading on Wednesday. The stock had a trading volume of 295,571 shares. The company has a 50-day moving average price of $5.45 and a 200-day moving average price of $4.83. Fifth Street Finance Corp. has a 12-month low of $3.90 and a 12-month high of $5.91.

Fifth Street Finance Corp. (NASDAQ:FSC) last issued its earnings results on Wednesday, August 9th. The credit services provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Fifth Street Finance Corp. had a positive return on equity of 8.27% and a negative net margin of 37.21%. The business had revenue of $44.92 million during the quarter, compared to analyst estimates of $43.35 million. On average, analysts anticipate that Fifth Street Finance Corp. will post $0.56 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 9.01%. The ex-dividend date is Thursday, December 14th. Fifth Street Finance Corp.’s dividend payout ratio is currently -288.46%.

In other Fifth Street Finance Corp. news, CEO Bernard D. Berman sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $5.43, for a total transaction of $108,600.00. Following the completion of the sale, the chief executive officer now directly owns 35,968 shares of the company’s stock, valued at approximately $195,306.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Fifth Street Finance Corp. is a specialty finance company. The Company is a closed-end, non-diversified management investment company. The Company acts as a business development company (BDC). The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments, and capital appreciation from its equity investments.

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