FS KKR Capital (FSK) Q2 Earnings and Revenues Surpass Estimates
FS KKR Capital (FSK) came out with quarterly earnings of $0.75 per share, beating the Zacks Consensus Estimate of $0.71 per share. This compares to earnings of $0.78 per share a year ago.
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FSK KKR Capital: Headwinds Persist, But Strong Dividend Coverage Makes Them A Buy
FSK KKR Capital has made efforts to address its portfolio issues and has shown improvement in its latest earnings report. The company has increased its liquidity and made significant progress in restructuring troubled companies. FSK KKR Capital's financials remain strong, with solid dividend coverage and a discounted valuation compared to some of its peers.
FS KKR Capital Corp. (NYSE:FSK) Shares Sold by Natixis Advisors L.P.
Natixis Advisors L.P. cut its holdings in shares of FS KKR Capital Corp. (NYSE:FSK – Free Report) by 71.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,654 shares of the company’s stock after selling 26,091 shares during the period. Natixis Advisors L.P.’s holdings in FS KKR Capital were worth $212,000 at the end of the most recent reporting period. A number of other institutional investors have also modified their holdings of FSK. Bank of New York Mellon Corp boosted its stake in shares of FS KKR Capital by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 96,524 shares of the company’s stock worth $1,901,000 after buying an additional 570 shares during the period. Raleigh Capital Management Inc. increased its stake in FS KKR Capital by 20.8% in the 3rd quarter. Raleigh Capital Management Inc. now owns 3,337 shares of the company’s stock valued at $66,000 after buying an additional 575 shares during the period. IFG Advisory LLC raised its position in FS KKR Capital by 0.7% during the 4th quarter. IFG Advisory LLC now owns 88,292 shares of the company’s stock worth $1,763,000 after buying an additional 633 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of FS KKR Capital by 0.3% during the third quarter. Envestnet Asset Management Inc. now owns 225,618 shares of the company’s stock worth $4,442,000 after acquiring an additional 764 shares during the period. Finally, Acorn Wealth Advisors LLC boosted its holdings in FS KKR Capital by 2.1% in the 3rd quarter. Acorn Wealth Advisors LLC now owns 40,001 shares of the company’s stock valued at $788,000 after purchasing an additional 812 shares in the last quarter. 36.26% of the stock is owned by institutional investors and hedge funds. FS KKR Capital Price Performance NYSE:FSK opened at $20.03 on Monday. The company’s 50-day moving average is $19.17 and its two-hundred day moving average is $19.72. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 1.16. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 8.35 and a beta of 1.23. FS KKR Capital Corp. has a 12-month low of $18.31 and a 12-month high of $20.99. FS KKR Capital (NYSE:FSK – Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. The business had revenue of $447.00 million for the quarter, compared to analysts’ expectations of $452.39 million. FS KKR Capital had a return on equity of 12.42% and a net margin of 37.06%. During the same quarter last year, the firm earned $0.81 earnings per share. Research analysts expect that FS KKR Capital Corp. will post 2.83 EPS for the current year. FS KKR Capital Increases Dividend The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Wednesday, June 12th will be issued a dividend of $0.70 per share. This is a positive change from FS KKR Capital’s previous quarterly dividend of $0.64. This represents a $2.80 annualized dividend and a dividend yield of 13.98%. The ex-dividend date is Wednesday, June 12th. FS KKR Capital’s dividend payout ratio is presently 106.67%. Insider Buying and Selling In related news, Director Barbara Adams purchased 3,381 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were bought at an average price of $20.10 per share, with a total value of $67,958.10. Following the completion of the purchase, the director now directly owns 22,082 shares in the company, valued at approximately $443,848.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other FS KKR Capital news, insider Daniel Pietrzak purchased 7,300 shares of FS KKR Capital stock in a transaction on Wednesday, February 28th. The shares were purchased at an average cost of $18.73 per share, with a total value of $136,729.00. Following the completion of the transaction, the insider now directly owns 39,800 shares in the company, valued at approximately $745,454. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barbara Adams acquired 3,381 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were acquired at an average price of $20.10 per share, with a total value of $67,958.10. Following the completion of the purchase, the director now owns 22,082 shares of the company’s stock, valued at $443,848.20. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 11,681 shares of company stock valued at $223,487. Insiders own 0.22% of the company’s stock. Wall Street Analyst Weigh In Several analysts have recently commented on FSK shares. Royal Bank of Canada decreased their price target on FS KKR Capital from $21.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. B. Riley restated a “buy” rating and set a $21.00 target price (up from $20.00) on shares of FS KKR Capital in a research report on Friday, May 10th. Compass Point downgraded shares of FS KKR Capital from a “buy” rating to a “neutral” rating and reduced their price target for the company from $21.50 to $19.50 in a research report on Tuesday, February 27th. Keefe, Bruyette & Woods lowered their price target on FS KKR Capital from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Tuesday, April 16th. Finally, Truist Financial reduced their price objective on FS KKR Capital from $22.00 to $20.00 and set a “hold” rating for the company in a report on Wednesday, February 28th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, FS KKR Capital currently has a consensus rating of “Hold” and an average price target of $20.17. Get Our Latest Report on FS KKR Capital About FS KKR Capital (Free Report) 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. See Also Five stocks we like better than FS KKR Capital Why Invest in Biotech Stocks MarketBeat Week in Review – 5/13 – 5/17 How to buy stock: A step-by-step guide for beginners Take-Two Interactive Software Offers 2nd Chance for Investors How to invest in marijuana stocks in 7 steps Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook Want to see what other hedge funds are holding FSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FS KKR Capital Corp. (NYSE:FSK – Free Report).
