FS Investment Corp. (FSIC) Given Average Recommendation of “Hold” by Brokerages
Shares of FS Investment Corp. (NYSE:FSIC) have earned a consensus rating of “Hold” from the nine ratings firms that are currently covering the stock. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $9.60.
Several brokerages have recently weighed in on FSIC. TheStreet upgraded FS Investment Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, November 15th. Zacks Investment Research cut FS Investment Corp. from a “hold” rating to a “sell” rating in a report on Friday, November 11th. National Securities restated a “neutral” rating and set a $9.00 target price on shares of FS Investment Corp. in a report on Friday, November 11th. Barclays PLC cut FS Investment Corp. from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $10.00 to $9.00 in a report on Wednesday, September 7th. Finally, DA Davidson restated a “buy” rating and set a $10.00 target price on shares of FS Investment Corp. in a report on Saturday, August 13th.
Shares of FS Investment Corp. (NYSE:FSIC) remained flat at $10.00 on Monday. The company had a trading volume of 425,459 shares. The company has a market capitalization of $2.43 billion, a PE ratio of 54.95 and a beta of 0.92. The stock has a 50-day moving average of $9.50 and a 200 day moving average of $9.33. FS Investment Corp. has a 52-week low of $7.11 and a 52-week high of $10.05.
FS Investment Corp. (NYSE:FSIC) last issued its earnings results on Wednesday, November 9th. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.02. FS Investment Corp. had a return on equity of 9.68% and a net margin of 38.26%. On average, equities research analysts anticipate that FS Investment Corp. will post $1.22 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 21st will be given a $0.2228 dividend. This represents a $0.89 dividend on an annualized basis and a yield of 8.91%. The ex-dividend date of this dividend is Monday, December 19th. FS Investment Corp.’s payout ratio is 130.88%.
A number of hedge funds have recently made changes to their positions in the stock. Credit Suisse AG raised its stake in shares of FS Investment Corp. by 92.4% in the third quarter. Credit Suisse AG now owns 21,501 shares of the company’s stock worth $203,000 after buying an additional 10,323 shares during the last quarter. Cetera Advisor Networks LLC raised its stake in shares of FS Investment Corp. by 58.7% in the third quarter. Cetera Advisor Networks LLC now owns 1,764,520 shares of the company’s stock worth $16,710,000 after buying an additional 652,620 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of FS Investment Corp. during the third quarter worth about $281,000. The Manufacturers Life Insurance Company purchased a new stake in shares of FS Investment Corp. during the third quarter worth about $550,000. Finally, Ares Management LLC raised its stake in shares of FS Investment Corp. by 204.6% in the third quarter. Ares Management LLC now owns 1,816,309 shares of the company’s stock worth $17,200,000 after buying an additional 1,220,100 shares during the last quarter. 31.48% of the stock is currently owned by institutional investors.
FS Investment Corp. Company Profile
FS Investment Corporation is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate current income and long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.
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