FS KKR Capital (NYSE:FSK) Shares Gap Down – Here’s What Happened
by Doug Wharley · The Cerbat GemFS KKR Capital Corp. (NYSE:FSK – Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $12.00, but opened at $11.56. FS KKR Capital shares last traded at $11.5350, with a volume of 149,944 shares changing hands.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. Truist Financial boosted their price objective on FS KKR Capital from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of FS KKR Capital in a research report on Friday, August 28th. Zacks Research upgraded FS KKR Capital from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Wall Street Zen raised shares of FS KKR Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of FS KKR Capital from $9.50 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Seven research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, FS KKR Capital has an average rating of “Reduce” and a consensus target price of $11.43.
Check Out Our Latest Stock Report on FS KKR Capital
FS KKR Capital Trading Down 4.0%
The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 1.26. The firm has a 50 day moving average of $11.61 and a 200 day moving average of $10.98. The firm has a market cap of $3.18 billion, a PE ratio of -8.54 and a beta of 0.83.
FS KKR Capital (NYSE:FSK – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.01. FS KKR Capital had a positive return on equity of 9.70% and a negative net margin of 28.52%.The business had revenue of $290.00 million during the quarter, compared to analyst estimates of $286.75 million. During the same period in the prior year, the company earned ($0.75) earnings per share. Equities analysts anticipate that FS KKR Capital Corp. will post 1.64 earnings per share for the current year.
FS KKR Capital Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 15.3%. This is a boost from FS KKR Capital’s previous quarterly dividend of $0.42. FS KKR Capital’s payout ratio is currently -124.44%.
Institutional Investors Weigh In On FS KKR Capital
Large investors have recently added to or reduced their stakes in the company. Saba Capital Management L.P. bought a new stake in FS KKR Capital in the 1st quarter valued at about $35,729,000. Legal & General Group Plc purchased a new stake in FS KKR Capital during the second quarter valued at about $28,742,000. Silver Point Capital L.P. bought a new position in FS KKR Capital during the second quarter worth about $28,602,000. Cura Wealth Advisors LLC bought a new position in FS KKR Capital during the second quarter worth about $22,391,000. Finally, Rivernorth Capital Management LLC increased its stake in shares of FS KKR Capital by 580.7% in the first quarter. Rivernorth Capital Management LLC now owns 2,097,170 shares of the company’s stock worth $21,349,000 after purchasing an additional 1,789,090 shares in the last quarter. Hedge funds and other institutional investors own 36.26% of the company’s stock.
About FS KKR Capital
FS KKR Capital Corp. (NYSE: FSK) is a business development company that provides financing to private middle-market companies, primarily in the United States. The company seeks to support businesses across a range of industries by investing in senior secured loans, subordinated debt and, to a lesser extent, equity securities.
FSK’s portfolio is generally focused on established companies with annual revenues and earnings that may require capital for acquisitions, recapitalizations, growth initiatives, refinancings and other corporate purposes.