FS KKR Capital (NYSE:FSK) Hits New 52-Week Low Following Analyst Downgrade

FS KKR Capital Corp. (NYSE:FSK)’s stock price hit a new 52-week low during trading on Friday after Royal Bank Of Canada lowered their price target on the stock from $17.00 to $15.00. Royal Bank Of Canada currently has a sector perform rating on the stock. FS KKR Capital traded as low as $10.79 and last traded at $10.7950, with a volume of 11559575 shares changing hands. The stock had previously closed at $11.29.

A number of other brokerages also recently issued reports on FSK. Weiss Ratings reiterated a “hold (c-)” rating on shares of FS KKR Capital in a research report on Thursday, January 22nd. Wells Fargo & Company decreased their target price on FS KKR Capital from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Friday. Keefe, Bruyette & Woods lowered their price target on FS KKR Capital from $18.50 to $18.00 and set a “market perform” rating on the stock in a report on Monday, November 10th. Wall Street Zen lowered FS KKR Capital from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Finally, Zacks Research upgraded shares of FS KKR Capital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 10th. Eight equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $16.50.

Hedge Funds Weigh In On FS KKR Capital

A number of large investors have recently modified their holdings of FSK. Atlantic Union Bankshares Corp purchased a new stake in FS KKR Capital in the second quarter worth approximately $26,000. Beacon Capital Management Inc. purchased a new position in shares of FS KKR Capital during the second quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of FS KKR Capital in the 4th quarter worth approximately $26,000. Jessup Wealth Management Inc bought a new stake in shares of FS KKR Capital in the 4th quarter worth approximately $26,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of FS KKR Capital in the 4th quarter valued at $28,000. 36.26% of the stock is owned by hedge funds and other institutional investors.

FS KKR Capital Stock Performance

The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.19. The company’s fifty day moving average is $13.98 and its 200 day moving average is $15.29. The company has a market cap of $3.02 billion, a P/E ratio of 359.83 and a beta of 0.84.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). FS KKR Capital had a net margin of 0.72% and a return on equity of 5.12%. The company had revenue of $348.00 million for the quarter, compared to the consensus estimate of $361.59 million. During the same period last year, the business posted $0.66 earnings per share. As a group, equities analysts predict that FS KKR Capital Corp. will post 2.89 earnings per share for the current fiscal year.

FS KKR Capital Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Wednesday, March 18th will be given a $0.03 dividend. The ex-dividend date is Wednesday, March 18th. This represents a yield of 1,595.0%. FS KKR Capital’s payout ratio is presently 6,000.00%.

About FS KKR Capital

FS KKR Capital Corp (NYSE:FSK) is a closed-end, externally managed business development company that primarily invests in private middle-market U.S. companies. The firm seeks to generate current income and capital appreciation by structuring investments in floating-rate senior secured loans, unitranche financings, second lien debt and mezzanine instruments. As a business development company, FSK provides financing solutions designed to support growth initiatives, acquisitions, leveraged buyouts and recapitalizations for privately held enterprises.

Established in 2018 through a strategic partnership between FS Investment Corporation and KKR Credit Advisors, a division of global investment firm KKR & Co Inc, FSK combines the credit underwriting capabilities of KKR’s global platform with FS’s expertise in private credit markets.