Brokerages Set FS Investment Corporation (FSIC) Price Target at $9.75
FS Investment Corporation (NYSE:FSIC) has received an average rating of “Hold” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $9.75.
Several analysts have recently commented on FSIC shares. BidaskClub upgraded FS Investment Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Zacks Investment Research upgraded FS Investment Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. National Securities reiterated a “neutral” rating and set a $10.00 price objective on shares of FS Investment Corporation in a report on Monday, August 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $10.00 price objective on shares of FS Investment Corporation in a report on Tuesday, July 25th. Finally, ValuEngine lowered FS Investment Corporation from a “buy” rating to a “hold” rating in a report on Friday.
In other news, CEO Michael C. Forman bought 22,320 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were purchased at an average cost of $8.88 per share, with a total value of $198,201.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David J. Adelman bought 11,160 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was purchased at an average cost of $8.88 per share, for a total transaction of $99,100.80. Following the completion of the transaction, the director now owns 34,063 shares in the company, valued at $302,479.44. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 56,855 shares of company stock worth $494,554. 1.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new position in shares of FS Investment Corporation in the 1st quarter valued at $110,000. BDO Wealth Advisors LLC acquired a new position in shares of FS Investment Corporation in the 2nd quarter valued at $103,000. Wayne Hummer Investments L.L.C. acquired a new position in shares of FS Investment Corporation in the 1st quarter valued at $112,000. Shelton Capital Management acquired a new position in shares of FS Investment Corporation in the 2nd quarter valued at $111,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of FS Investment Corporation in the 1st quarter valued at $122,000. 32.49% of the stock is currently owned by hedge funds and other institutional investors.
FS Investment Corporation (FSIC) traded up 3.11% during mid-day trading on Tuesday, hitting $8.30. The company’s stock had a trading volume of 1,679,598 shares. FS Investment Corporation has a 12-month low of $8.02 and a 12-month high of $10.80. The firm’s 50-day moving average is $8.70 and its 200-day moving average is $9.36.
FS Investment Corporation (NYSE:FSIC) last issued its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by $0.01. FS Investment Corporation had a net margin of 59.88% and a return on equity of 8.92%. The business had revenue of $98.70 million for the quarter, compared to analysts’ expectations of $103.14 million. Analysts predict that FS Investment Corporation will post $0.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Wednesday, September 20th will be given a $0.2228 dividend. This represents a $0.89 annualized dividend and a dividend yield of 10.73%. The ex-dividend date is Tuesday, September 19th. FS Investment Corporation’s payout ratio is 87.26%.
About FS Investment Corporation
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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