FS KKR Capital Corp. (NYSE:FSK) Given Average Rating of “Reduce” by Brokerages

Shares of FS KKR Capital Corp. (NYSE:FSK) have been given an average recommendation of “Reduce” by the eight research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $10.5833.

FSK has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on FS KKR Capital from $13.00 to $9.50 and set a “neutral” rating on the stock in a report on Friday, March 13th. Keefe, Bruyette & Woods dropped their target price on FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a report on Thursday, April 16th. Truist Financial dropped their target price on FS KKR Capital from $17.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, March 4th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $11.00 target price on shares of FS KKR Capital in a report on Tuesday, May 12th. Finally, B. Riley Financial dropped their target price on FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd.

FS KKR Capital Stock Down 2.0%

Shares of NYSE FSK opened at $10.76 on Tuesday. The stock has a market cap of $3.01 billion, a P/E ratio of -5.46 and a beta of 0.85. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.38. FS KKR Capital has a 12-month low of $9.72 and a 12-month high of $22.68. The business’s fifty day simple moving average is $10.59 and its 200-day simple moving average is $13.06.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03). The company had revenue of $304.00 million during the quarter, compared to analyst estimates of $316.81 million. FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. The firm’s revenue was down 24.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 earnings per share. As a group, equities analysts predict that FS KKR Capital will post 1.68 EPS for the current fiscal year.

FS KKR Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 17th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 15.6%. The ex-dividend date of this dividend is Wednesday, June 17th. FS KKR Capital’s dividend payout ratio is -91.37%.

Insider Buying and Selling

In other FS KKR Capital news, insider Daniel Pietrzak bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were purchased at an average price of $11.25 per share, with a total value of $56,250.00. Following the completion of the acquisition, the insider directly owned 64,800 shares of the company’s stock, valued at $729,000. This represents a 8.36% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On FS KKR Capital

Large investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in FS KKR Capital in the fourth quarter valued at $26,000. Jessup Wealth Management Inc purchased a new position in shares of FS KKR Capital during the fourth quarter worth about $26,000. FNY Investment Advisers LLC purchased a new position in shares of FS KKR Capital during the fourth quarter worth about $28,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of FS KKR Capital during the fourth quarter worth about $31,000. Finally, Basepoint Wealth LLC purchased a new position in shares of FS KKR Capital during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 36.26% of the company’s stock.

FS KKR Capital Company Profile

FS KKR Capital Corp (NYSE:FSK) is a closed-end, externally managed business development company that primarily invests in private middle-market U.S. companies. The firm seeks to generate current income and capital appreciation by structuring investments in floating-rate senior secured loans, unitranche financings, second lien debt and mezzanine instruments. As a business development company, FSK provides financing solutions designed to support growth initiatives, acquisitions, leveraged buyouts and recapitalizations for privately held enterprises.

Established in 2018 through a strategic partnership between FS Investment Corporation and KKR Credit Advisors, a division of global investment firm KKR & Co Inc, FSK combines the credit underwriting capabilities of KKR’s global platform with FS’s expertise in private credit markets.