Royal Bank of Canada Cuts FS KKR Capital (NYSE:FSK) Price Target to $21.00

FS KKR Capital (NYSE:FSK) had its price objective cut by Royal Bank of Canada from $22.00 to $21.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a sector perform rating on the stock.

FSK has been the subject of several other research reports. Wells Fargo & Company decreased their price target on shares of FS KKR Capital from $19.00 to $18.00 and set an “underweight” rating for the company in a research note on Monday, April 28th. Keefe, Bruyette & Woods decreased their price target on shares of FS KKR Capital from $22.00 to $19.00 and set a “market perform” rating for the company in a research note on Tuesday, April 8th. Oppenheimer decreased their price target on shares of FS KKR Capital from $22.00 to $21.00 and set a “market perform” rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. decreased their price target on shares of FS KKR Capital from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. Finally, B. Riley started coverage on shares of FS KKR Capital in a research note on Tuesday, May 13th. They set a “neutral” rating and a $19.00 price target for the company. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $19.50.

FS KKR Capital Stock Up 1.4%

Shares of NYSE:FSK opened at $21.21 on Thursday. FS KKR Capital has a 1 year low of $17.42 and a 1 year high of $24.10. The business has a 50 day simple moving average of $20.12 and a two-hundred day simple moving average of $21.40. The firm has a market capitalization of $5.94 billion, a PE ratio of 11.28 and a beta of 0.98. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.96 and a quick ratio of 2.96.

FS KKR Capital (NYSE:FSK) last announced its earnings results on Wednesday, May 7th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.01. FS KKR Capital had a return on equity of 12.31% and a net margin of 29.98%. The business had revenue of $400.00 million during the quarter, compared to analyst estimates of $395.22 million. During the same quarter in the previous year, the business earned $0.62 earnings per share. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities analysts predict that FS KKR Capital will post 2.89 EPS for the current year.

FS KKR Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 18th will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 12.07%. The ex-dividend date of this dividend is Wednesday, June 18th. FS KKR Capital’s dividend payout ratio (DPR) is 134.74%.

Hedge Funds Weigh In On FS KKR Capital

A number of large investors have recently bought and sold shares of FSK. Barclays PLC raised its stake in FS KKR Capital by 24.8% in the third quarter. Barclays PLC now owns 327,469 shares of the company’s stock worth $6,460,000 after buying an additional 65,054 shares in the last quarter. JPMorgan Chase & Co. raised its stake in FS KKR Capital by 258.2% in the third quarter. JPMorgan Chase & Co. now owns 105,171 shares of the company’s stock worth $2,075,000 after buying an additional 75,811 shares in the last quarter. AdvisorNet Financial Inc raised its stake in FS KKR Capital by 9.9% in the fourth quarter. AdvisorNet Financial Inc now owns 26,441 shares of the company’s stock worth $574,000 after buying an additional 2,372 shares in the last quarter. FNY Investment Advisers LLC bought a new position in FS KKR Capital in the fourth quarter worth approximately $52,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in FS KKR Capital by 122.6% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,760 shares of the company’s stock worth $60,000 after purchasing an additional 1,520 shares during the last quarter. Institutional investors own 36.26% of the company’s stock.

FS KKR Capital Company Profile

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.