FS KKR Capital (NYSE:FSK) Reaches New 52-Week High After Analyst Upgrade

FS KKR Capital Corp. (NYSE:FSK)’s stock price hit a new 52-week high during mid-day 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 changing hands. The stock had previously closed at $21.24.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Securities Group LLC purchased a new stake in shares of FS KKR Capital during the 2nd quarter worth about $30,000. Ridgewood Investments LLC acquired a new stake in FS KKR Capital during the second quarter worth $37,000. Rothschild Investment LLC bought a new stake in shares of FS KKR Capital in the 2nd quarter valued at approximately $39,000. McIlrath & Eck LLC lifted its holdings in shares of FS KKR Capital by 47.5% during the third quarter. McIlrath & Eck LLC now owns 2,096 shares of the company’s stock valued at $41,000 after acquiring an additional 675 shares during the period. Finally, Financial Gravity Asset Management Inc. grew its stake in 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 during the last quarter. 36.26% of the stock is currently owned by institutional investors.

FS KKR Capital Price Performance

The stock has a fifty day moving average of $20.23 and a two-hundred day moving average of $20.04. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 11.40 and a beta of 1.25. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 1.21.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.04. The business had revenue of $441.00 million for the quarter, compared to analyst estimates 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 business posted $0.80 earnings per share. As a group, equities research analysts forecast that FS KKR Capital Corp. will post 2.89 earnings per share for the current year.

FS KKR Capital Increases Dividend

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