FS KKR Capital (NYSE:FSK) Upgraded to “Hold” 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 morning.

A number of other equities analysts have also weighed in on the stock. Wells Fargo & Company dropped their price target on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Keefe, Bruyette & Woods decreased their price objective on shares of 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. Weiss Ratings restated a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Zacks Research cut shares of FS KKR Capital from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $11.00 target price on shares of FS KKR Capital in a report on Tuesday, May 12th. Six analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, FS KKR Capital currently has an average rating of “Reduce” and a consensus price target of $10.58.

FS KKR Capital Stock Up 0.0%

FSK stock opened at $10.56 on Friday. The business’s 50-day moving average price is $10.68 and its 200-day moving average price is $11.37. The stock has a market cap of $2.96 billion, a P/E ratio of -5.36 and a beta of 0.82. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.38. FS KKR Capital has a twelve month low of $9.72 and a twelve month high of $21.34.

FS KKR Capital (NYSE:FSK) last released its earnings results 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). FS KKR Capital had a positive return on equity of 4.34% and a negative net margin of 38.65%.The firm had revenue of $304.00 million during the quarter, compared to analysts’ expectations of $316.81 million. During the same period in the prior year, the company posted $0.65 earnings per share. The company’s revenue was down 24.0% compared to the same quarter last year. On average, equities research analysts forecast that FS KKR Capital will post 1.64 EPS for the current 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 paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 15.9%. The ex-dividend date was Wednesday, June 17th. FS KKR Capital’s dividend payout ratio is presently -85.28%.

Institutional Investors Weigh In On FS KKR Capital

Several institutional investors and hedge funds have recently modified their holdings of the stock. Family Wealth Partners LLC boosted its position in shares of FS KKR Capital by 17.6% during the second quarter. Family Wealth Partners LLC now owns 123,890 shares of the company’s stock worth $1,301,000 after acquiring an additional 18,519 shares during the last quarter. Valeo Financial Advisors LLC grew its stake in FS KKR Capital by 28.4% during the second quarter. Valeo Financial Advisors LLC now owns 14,580 shares of the company’s stock valued at $153,000 after acquiring an additional 3,223 shares in the last quarter. NewEdge Advisors LLC increased its holdings in FS KKR Capital by 1.7% in the 1st quarter. NewEdge Advisors LLC now owns 139,978 shares of the company’s stock valued at $1,425,000 after acquiring an additional 2,347 shares during the last quarter. Bank of America Corp DE increased its holdings in FS KKR Capital by 221.0% in the 1st quarter. Bank of America Corp DE now owns 416,171 shares of the company’s stock valued at $4,237,000 after acquiring an additional 286,541 shares during the last quarter. Finally, Rivernorth Capital Management LLC lifted its stake in FS KKR Capital by 580.7% in the 1st quarter. Rivernorth Capital Management LLC now owns 2,097,170 shares of the company’s stock worth $21,349,000 after purchasing an additional 1,789,090 shares in the last quarter. Institutional investors own 36.26% of the company’s stock.

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.