FS KKR Capital (NYSE:FSK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of FS KKR Capital (NYSE:FSK) from a sell rating to a hold rating in a report released on Saturday.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company lowered their price objective on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Royal Bank Of Canada reissued a “sector perform” rating and issued a $11.00 target price on shares of FS KKR Capital in a research note on Tuesday, May 12th. Keefe, Bruyette & Woods lowered their price target on FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a research report on Thursday, April 16th. Finally, Zacks Research lowered FS KKR Capital from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Six equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $10.58.

FS KKR Capital Trading Up 4.9%

Shares of FSK opened at $11.08 on Friday. FS KKR Capital has a 1-year low of $9.72 and a 1-year high of $20.49. The company has a market capitalization of $3.10 billion, a P/E ratio of -5.63 and a beta of 0.83. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.00 and a quick ratio of 2.00. The firm’s 50 day simple moving average is $10.68 and its 200 day simple moving average is $11.32.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings results on Monday, May 11th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The company had revenue of $304.00 million during the quarter, compared to analysts’ expectations of $316.81 million. FS KKR Capital had a positive return on equity of 4.34% and a negative net margin of 38.65%.FS KKR Capital’s quarterly revenue was down 24.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. Sell-side analysts forecast that FS KKR Capital will post 1.64 earnings per share for the current fiscal year.

FS KKR Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 17th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 15.2%. The ex-dividend date was Wednesday, June 17th. FS KKR Capital’s dividend payout ratio (DPR) is presently -85.28%.

Institutional Investors Weigh In On FS KKR Capital

A number of hedge funds have recently made changes to their positions in FSK. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of FS KKR Capital during the 4th quarter valued at $26,000. Jessup Wealth Management Inc bought a new stake in FS KKR Capital in the fourth quarter worth $26,000. FNY Investment Advisers LLC bought a new stake in FS KKR Capital in the fourth quarter worth $28,000. Halbert Hargrove Global Advisors LLC bought a new stake in FS KKR Capital in the fourth quarter worth $31,000. Finally, Basepoint Wealth LLC purchased a new stake in FS KKR Capital during the fourth quarter valued at about $31,000. 36.26% of the stock is currently owned by institutional investors.

About FS KKR Capital

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.