FS KKR Capital Corp. (NYSE:FSK) Declares $0.42 Quarterly Dividend

FS KKR Capital Corp. (NYSE:FSK) announced a quarterly dividend on Wednesday, May 6th. Stockholders of record on Wednesday, June 17th will be given a dividend of 0.42 per share on Thursday, July 2nd. This represents a c) annualized dividend and a dividend yield of 15.2%. The ex-dividend date is Wednesday, June 17th.

FS KKR Capital has raised its dividend by an average of 0.0%annually over the last three years. FS KKR Capital has a dividend payout ratio of 69.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect FS KKR Capital to earn $1.57 per share next year, which means the company may not be able to cover its $1.68 annual dividend with an expected future payout ratio of 107.0%.

FS KKR Capital Price Performance

FSK stock opened at $11.05 on Monday. The company has a market capitalization of $3.09 billion, a P/E ratio of -5.61 and a beta of 0.83. FS KKR Capital has a twelve month low of $9.72 and a twelve month high of $22.68. The business has a 50 day simple moving average of $10.82 and a 200-day simple moving average of $12.46. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.38.

FS KKR Capital (NYSE:FSK) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.03). The firm had revenue of $304.00 million during the quarter, compared to analyst estimates of $316.81 million. FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. FS KKR Capital’s revenue was down 24.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 earnings per share. As a group, equities analysts anticipate that FS KKR Capital will post 1.66 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FSK shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $11.00 price target on shares of FS KKR Capital in a report on Tuesday, May 12th. Truist Financial decreased their price target on FS KKR Capital from $17.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, March 4th. JPMorgan Chase & Co. decreased their price target on FS KKR Capital from $13.00 to $9.50 and set a “neutral” rating for the company in a report on Friday, March 13th. Wells Fargo & Company decreased their price target on FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Finally, Zacks Research raised FS KKR Capital from a “strong sell” rating to a “hold” rating in a report on Monday, May 4th. Seven research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $10.58.

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.