FS Investment (FSIC) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of FS Investment (NYSE:FSIC) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “FS Investment Corporation is a business development company. It primarily originates and invests in senior secured loans and other securities of private U.S. companies, with the investment objective of generating current income and, to a lesser extent, long-term capital appreciation. FS Investment Corporation is based in United States. “

A number of other research firms have also recently issued reports on FSIC. National Securities lifted their price objective on FS Investment from $10.00 to $11.00 and gave the company a buy rating in a research report on Wednesday, July 25th. Wells Fargo & Co raised FS Investment from a market perform rating to an outperform rating in a research report on Tuesday, July 24th. ValuEngine raised FS Investment from a strong sell rating to a sell rating in a research report on Saturday, September 1st. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $8.00 price objective on shares of FS Investment in a research report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $8.92.

FSIC opened at $6.69 on Tuesday. The firm has a market cap of $1.61 billion, a P/E ratio of 8.06, a PEG ratio of 2.88 and a beta of 0.89. FS Investment has a 1 year low of $6.67 and a 1 year high of $8.35. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.76.

FS Investment (NYSE:FSIC) last released its quarterly earnings data on Thursday, August 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $95.58 million during the quarter, compared to analysts’ expectations of $98.53 million. FS Investment had a return on equity of 8.96% and a net margin of 19.88%. As a group, analysts predict that FS Investment will post 0.78 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 2nd. Shareholders of record on Wednesday, September 19th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 18th. This represents a $0.76 annualized dividend and a yield of 11.36%. FS Investment’s dividend payout ratio (DPR) is currently 91.57%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Northern Trust Corp raised its holdings in FS Investment by 17.7% during the second quarter. Northern Trust Corp now owns 57,850 shares of the financial services provider’s stock valued at $425,000 after buying an additional 8,717 shares in the last quarter. Wealth & Pension Services Group Inc. bought a new position in FS Investment during the second quarter valued at about $508,000. Bank of New York Mellon Corp raised its holdings in FS Investment by 206.7% during the second quarter. Bank of New York Mellon Corp now owns 155,778 shares of the financial services provider’s stock valued at $1,145,000 after buying an additional 104,984 shares in the last quarter. WealthPLAN Partners LLC raised its holdings in FS Investment by 14.5% during the second quarter. WealthPLAN Partners LLC now owns 771,407 shares of the financial services provider’s stock valued at $5,669,000 after buying an additional 97,957 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in FS Investment by 15.6% during the second quarter. California Public Employees Retirement System now owns 711,300 shares of the financial services provider’s stock valued at $5,228,000 after buying an additional 95,900 shares in the last quarter. Institutional investors own 29.02% of the company’s stock.

FS Investment Company Profile

FS Investment Corporation is a business development company specializing in investments in debt securities. It seeks to purchase interests in loans through secondary market transactions or directly from the target companies as primary market investments. It also seeks to invest in first lien senior secured loans, second lien secured loans and, to a lesser extent, subordinated loans, or mezzanine loans.

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