FS Investment Co. (FSIC) Receives $9.50 Average Price Target from Analysts

Shares of FS Investment Co. (NYSE:FSIC) have been given an average rating of “Hold” by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $9.50.

FSIC has been the topic of a number of research reports. ValuEngine upgraded shares of FS Investment from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research downgraded shares of FS Investment from a “buy” rating to a “hold” rating in a report on Monday, October 16th. National Securities restated a “neutral” rating and issued a $10.00 target price on shares of FS Investment in a report on Monday, November 13th. BidaskClub downgraded shares of FS Investment from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods set a $9.00 target price on shares of FS Investment and gave the stock a “hold” rating in a report on Thursday, October 5th.

FS Investment (FSIC) traded down $0.03 during trading on Monday, hitting $7.60. 1,730,000 shares of the stock were exchanged, compared to its average volume of 2,140,000. FS Investment has a 12-month low of $7.32 and a 12-month high of $10.80. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.12 and a current ratio of 2.12. The company has a market cap of $1,870.00, a P/E ratio of 8.54, a PEG ratio of 3.17 and a beta of 0.94.

FS Investment (NYSE:FSIC) last posted its earnings results on Thursday, November 9th. The financial services provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. FS Investment had a net margin of 52.49% and a return on equity of 8.97%. The firm had revenue of $103.69 million for the quarter, compared to the consensus estimate of $97.03 million. sell-side analysts forecast that FS Investment will post 0.8 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 10.00%. FS Investment’s dividend payout ratio is presently 85.39%.

In other news, Director Thomas Gravina purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was purchased at an average cost of $7.54 per share, with a total value of $37,700.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael C. Forman purchased 16,531 shares of the company’s stock in a transaction that occurred on Friday, December 28th. The shares were purchased at an average cost of $7.46 per share, with a total value of $123,321.26. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 98,012 shares of company stock valued at $743,667. 1.00% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC purchased a new position in shares of FS Investment during the 3rd quarter worth about $132,000. Cetera Investment Advisers boosted its stake in shares of FS Investment by 886.3% during the 3rd quarter. Cetera Investment Advisers now owns 152,702 shares of the financial services provider’s stock worth $1,297,000 after purchasing an additional 137,220 shares during the period. Wealthcare Advisory Partners LLC boosted its stake in shares of FS Investment by 231.2% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 32,206 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 22,481 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of FS Investment by 13.6% during the 3rd quarter. Neuberger Berman Group LLC now owns 443,360 shares of the financial services provider’s stock worth $3,746,000 after purchasing an additional 53,110 shares during the period. Finally, California Public Employees Retirement System boosted its position in FS Investment by 10.2% in the 3rd quarter. California Public Employees Retirement System now owns 539,400 shares of the financial services provider’s stock valued at $4,558,000 after buying an additional 49,900 shares during the period. 32.36% of the stock is owned by hedge funds and other institutional investors.

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About FS Investment

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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