Analysts Set FS KKR Capital Corp. (NYSE:FSK) Price Target at $10.58

Shares of FS KKR Capital Corp. (NYSE:FSK) have earned an average recommendation of “Reduce” from the eight brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $10.5833.

A number of brokerages recently issued reports on FSK. Wall Street Zen lowered FS KKR Capital from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. B. Riley Financial reduced their target price on FS KKR Capital from $17.50 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Zacks Research upgraded FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. reduced their target price on FS KKR Capital from $13.00 to $9.50 and set a “neutral” rating for the company in a research note on Friday, March 13th. Finally, Weiss Ratings lowered FS KKR Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 5th.

FS KKR Capital Stock Performance

Shares of FSK stock opened at $10.79 on Tuesday. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of -5.47 and a beta of 0.85. 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 business has a fifty day moving average of $10.61 and a 200 day moving average of $12.91. FS KKR Capital has a 1 year low of $9.72 and a 1 year high of $22.68.

FS KKR Capital (NYSE:FSK) last issued its earnings results on Monday, May 11th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The firm 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%.The business’s revenue was down 24.0% on a year-over-year basis. During the same quarter last year, the business earned $0.65 EPS. As a group, research analysts expect that FS KKR Capital will post 1.66 earnings per share for the current year.

FS KKR Capital Announces Dividend

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

Insider Buying and Selling at FS KKR Capital

In related news, insider Daniel Pietrzak acquired 5,000 shares of FS KKR Capital stock in a transaction on Friday, February 27th. The stock was acquired at an average price of $11.25 per share, for a total transaction of $56,250.00. Following the purchase, the insider owned 64,800 shares of the company’s stock, valued at approximately $729,000. This represents a 8.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On FS KKR Capital

A number of institutional investors have recently modified their holdings of FSK. Northwestern Mutual Wealth Management Co. raised its stake in shares of FS KKR Capital by 55,074.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,741,004 shares of the company’s stock valued at $114,644,000 after buying an additional 7,726,974 shares during the last quarter. Saba Capital Management L.P. purchased a new position in shares of FS KKR Capital during the 1st quarter valued at about $35,729,000. Oak Hill Advisors LP purchased a new position in shares of FS KKR Capital during the 4th quarter valued at about $38,659,000. Rivernorth Capital Management LLC raised its stake in shares of FS KKR Capital by 580.7% during the 1st quarter. Rivernorth Capital Management LLC now owns 2,097,170 shares of the company’s stock valued at $21,349,000 after buying an additional 1,789,090 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of FS KKR Capital during the 3rd quarter valued at about $21,917,000. 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.