FS KKR Capital (NYSE:FSK) Hits New 52-Week High on Analyst Upgrade

FS KKR Capital Corp. (NYSE:FSK)’s share price hit a new 52-week high during trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $20.00 to $21.00. Royal Bank of Canada currently has a sector perform rating on the stock. FS KKR Capital traded as high as $21.36 and last traded at $21.35, with a volume of 217038 shares. The stock had previously closed at $21.24.

Separately, Wells Fargo & Company cut their target price on shares of FS KKR Capital from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.06.

Hedge Funds Weigh In On FS KKR Capital

A number of hedge funds have recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in shares of FS KKR Capital in the 2nd quarter valued at approximately $30,000. Ridgewood Investments LLC acquired a new position in shares of FS KKR Capital during the 2nd quarter worth about $37,000. Rothschild Investment LLC bought a new stake in FS KKR Capital during the 2nd quarter valued at approximately $39,000. Financial Gravity Asset Management Inc. grew its holdings in FS KKR Capital by 198.7% in the 2nd quarter. Financial Gravity Asset Management Inc. now owns 2,136 shares of the company’s stock valued at $42,000 after buying an additional 1,421 shares during the last quarter. Finally, New Millennium Group LLC bought a new position in FS KKR Capital in the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 36.26% of the company’s stock.

FS KKR Capital Trading Up 0.7 %

The company has a market capitalization of $5.99 billion, a P/E ratio of 11.31 and a beta of 1.25. The company has a 50-day simple moving average of $20.21 and a 200 day simple moving average of $20.03. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.96 and a current ratio of 2.96.

FS KKR Capital (NYSE:FSK) last released its earnings results on Wednesday, November 6th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.70 by $0.04. The firm had revenue of $441.00 million during the quarter, compared to analysts’ expectations of $423.58 million. FS KKR Capital had a net margin of 29.98% and a return on equity of 12.31%. During the same period in the prior year, the company earned $0.80 EPS. Sell-side analysts expect that FS KKR Capital Corp. will post 2.89 earnings per share for the current year.

FS KKR Capital Increases Dividend

The company also recently declared a None dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.70 per share. This represents a yield of 12.7%. This is a positive change from FS KKR Capital’s previous None dividend of $0.64. The ex-dividend date is Wednesday, December 4th. FS KKR Capital’s payout ratio is currently 136.17%.

FS KKR Capital Company Profile

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.