FSIC has been the subject of a number of other reports. Zacks Investment Research downgraded shares of FS Investment Corp. from a hold rating to a sell rating in a research report on Thursday, August 11th. National Securities reiterated a neutral rating and set a $9.00 price target on shares of FS Investment Corp. in a research report on Friday, August 12th. JPMorgan Chase & Co. lifted their price target on shares of FS Investment Corp. from $9.00 to $9.50 and gave the company a neutral rating in a research report on Thursday, August 11th. DA Davidson reiterated a buy rating and set a $10.00 price target on shares of FS Investment Corp. in a research report on Saturday, August 13th. Finally, Barclays PLC downgraded shares of FS Investment Corp. from an overweight rating to an equal weight rating and reduced their price target for the company from $10.00 to $9.00 in a research report on Wednesday, September 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $9.75.
FS Investment Corp. (NYSE:FSIC) opened at 9.50 on Thursday. The company has a 50-day moving average price of $9.62 and a 200 day moving average price of $9.26. FS Investment Corp. has a 12 month low of $7.11 and a 12 month high of $10.05.
FS Investment Corp. (NYSE:FSIC) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. FS Investment Corp. had a net margin of 10.27% and a return on equity of 9.65%. Equities analysts expect that FS Investment Corp. will post $0.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Wednesday, September 21st will be paid a $0.2228 dividend. The ex-dividend date is Monday, September 19th. This represents a $0.89 annualized dividend and a yield of 9.38%. FS Investment Corp.’s payout ratio is currently 468.45%.
Hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in FS Investment Corp. during the second quarter valued at approximately $31,603,000. Nomura Holdings Inc. boosted its stake in FS Investment Corp. by 1,301.5% in the second quarter. Nomura Holdings Inc. now owns 1,247,573 shares of the company’s stock valued at $11,202,000 after buying an additional 1,158,558 shares during the last quarter. LPL Financial LLC boosted its stake 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. National Planning Corp boosted its stake in FS Investment Corp. by 19.5% in the first quarter. National Planning Corp now owns 1,478,269 shares of the company’s stock valued at $13,467,000 after buying an additional 240,981 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in FS Investment Corp. by 52.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,590,000 shares of the company’s stock valued at $14,390,000 after buying an additional 550,000 shares during the last quarter. 29.92% of the stock is owned by hedge funds and other institutional investors.
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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