FS KKR Capital (NYSE:FSK) Reaches New 12-Month High Following Analyst Upgrade

FS KKR Capital Corp. (NYSE:FSK) hit a new 52-week high 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 decreased their price objective 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, FS KKR Capital presently has a consensus rating of “Hold” and a consensus target price of $20.06.

Institutional Investors Weigh In On FS KKR Capital

Several institutional investors have recently added to or reduced their stakes in the business. Wedbush Securities Inc. increased its holdings in FS KKR Capital by 1.4% in the 2nd quarter. Wedbush Securities Inc. now owns 40,380 shares of the company’s stock worth $797,000 after acquiring an additional 573 shares in the last quarter. Wescott Financial Advisory Group LLC raised its stake in FS KKR Capital by 2.9% during the third quarter. Wescott Financial Advisory Group LLC now owns 21,118 shares of the company’s stock worth $417,000 after purchasing an additional 600 shares during the period. McIlrath & Eck LLC grew its position in FS KKR Capital by 47.5% in the third quarter. McIlrath & Eck LLC now owns 2,096 shares of the company’s stock worth $41,000 after acquiring an additional 675 shares during the period. Focus Financial Network Inc. increased its position in shares of FS KKR Capital by 3.2% during the 2nd quarter. Focus Financial Network Inc. now owns 23,422 shares of the company’s stock worth $477,000 after purchasing an additional 719 shares during the last quarter. Finally, Centaurus Financial Inc. raised its stake in shares of FS KKR Capital by 0.8% in the 3rd quarter. Centaurus Financial Inc. now owns 116,701 shares of the company’s stock valued at $2,303,000 after acquiring an additional 935 shares during the period. Institutional investors and hedge funds own 36.26% of the company’s stock.

FS KKR Capital Price Performance

The stock has a market cap of $6.04 billion, a PE ratio of 11.40 and a beta of 1.25. The company has a fifty day moving average of $20.23 and a 200-day moving average of $20.04. 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 earnings results on Wednesday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. FS KKR Capital had a net margin of 29.98% and a return on equity of 12.31%. The business had revenue of $441.00 million for the quarter, compared to analyst estimates of $423.58 million. During the same period last year, the firm posted $0.80 earnings per share. Sell-side analysts expect that FS KKR Capital Corp. will post 2.89 EPS for the current fiscal year.

FS KKR Capital Increases Dividend

The company also recently disclosed a None dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a yield of 12.7%. This is an increase from FS KKR Capital’s previous None dividend of $0.64. FS KKR Capital’s dividend payout ratio (DPR) is presently 136.17%.

About FS KKR Capital

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.