Shares of FS KKR Capital Corp. (NYSE:FSK - Get Free Report) hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $21.07 and last traded at $21.07, with a volume of 240463 shares traded. The stock had previously closed at $20.81.
The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.04. The company had revenue of $441.00 million during the quarter, compared to analysts' expectations of $423.58 million. FS KKR Capital had a return on equity of 12.39% and a net margin of 35.46%. During the same quarter in the previous year, the firm posted $0.80 EPS.
FS KKR Capital Increases Dividend
The firm also recently declared a None dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.70 dividend. This represents a yield of 12.7%. The ex-dividend date is Wednesday, December 4th. This is an increase from FS KKR Capital's previous None dividend of $0.64. FS KKR Capital's dividend payout ratio is 113.27%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $20.00 price objective on shares of FS KKR Capital in a research note on Wednesday, August 14th. Wells Fargo & Company cut their price target on FS KKR Capital from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, FS KKR Capital has a consensus rating of "Hold" and an average price target of $19.94.
View Our Latest Stock Report on FSK
Insider Activity
In related news, CEO Michael C. Forman sold 195,139 shares of the company's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $19.56, for a total value of $3,816,918.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company's stock.
Hedge Funds Weigh In On FS KKR Capital
A number of large investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new position in shares of FS KKR Capital in the second quarter valued at approximately $30,000. Ridgewood Investments LLC purchased a new position in FS KKR Capital in the 2nd quarter valued at $37,000. Rothschild Investment LLC acquired a new stake in FS KKR Capital during the 2nd quarter worth $39,000. Financial Gravity Asset Management Inc. grew its holdings in shares of FS KKR Capital by 198.7% during the second quarter. Financial Gravity Asset Management Inc. now owns 2,136 shares of the company's stock worth $42,000 after buying an additional 1,421 shares in the last quarter. Finally, New Millennium Group LLC acquired a new stake in shares of FS KKR Capital in the second quarter valued at about $50,000. 36.26% of the stock is currently owned by institutional investors and hedge funds.
FS KKR Capital Trading Up 0.6 %
The stock has a market capitalization of $5.86 billion, a PE ratio of 9.26 and a beta of 1.25. The company's 50 day moving average price is $20.09 and its two-hundred day moving average price is $19.94. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.34 and a quick ratio of 2.34.
About FS KKR Capital
(
Get Free Report)
FS KKR Capital Corp. is a business development company specializing in investments in debt securities. It provides customized credit solutions to private middle market U.S. companies. It invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market U.S.
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