Wall Street Zen Upgrades FS KKR Capital (NYSE:FSK) to “Hold”

FS KKR Capital (NYSE:FSK) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other brokerages also recently issued reports on FSK. Wells Fargo & Company cut their price objective on FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Keefe, Bruyette & Woods lowered their target price on FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a report on Thursday, April 16th. Weiss Ratings reissued a “sell (d+)” rating on shares of FS KKR Capital in a research report on Tuesday, June 2nd. Royal Bank Of Canada reissued a “sector perform” rating and issued a $11.00 price target on shares of FS KKR Capital in a report on Tuesday, May 12th. Finally, Zacks Research downgraded FS KKR Capital from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Six equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, FS KKR Capital currently has an average rating of “Reduce” and a consensus target price of $10.58.

FS KKR Capital Stock Performance

NYSE:FSK opened at $10.56 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $2.96 billion, a P/E ratio of -5.36 and a beta of 0.83. The firm has a 50-day moving average price of $10.68 and a two-hundred day moving average price of $11.35. FS KKR Capital has a twelve month low of $9.72 and a twelve month high of $21.34.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.03). The business had revenue of $304.00 million during the quarter, compared to analysts’ expectations of $316.81 million. FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. The firm’s revenue for the quarter was down 24.0% on a year-over-year basis. During the same period last year, the company earned $0.65 EPS. As a group, research analysts expect that FS KKR Capital will post 1.64 earnings per share for the current fiscal year.

Institutional Trading of FS KKR Capital

Hedge funds have recently bought and sold shares of the company. Titan Investment Management LLC acquired a new stake in shares of FS KKR Capital during the fourth quarter worth $1,863,000. UBS Group AG grew its position in shares of FS KKR Capital by 15.3% in the fourth quarter. UBS Group AG now owns 3,806,076 shares of the company’s stock valued at $56,368,000 after purchasing an additional 505,982 shares during the period. Legacy Capital Group California Inc. increased its stake in FS KKR Capital by 48.8% in the fourth quarter. Legacy Capital Group California Inc. now owns 313,615 shares of the company’s stock valued at $4,645,000 after purchasing an additional 102,864 shares during the last quarter. Marble Wealth LLC purchased a new position in FS KKR Capital during the fourth quarter worth about $1,567,000. Finally, Legal & General Group Plc lifted its position in FS KKR Capital by 15.3% during the fourth quarter. Legal & General Group Plc now owns 2,296,070 shares of the company’s stock worth $33,993,000 after buying an additional 304,556 shares during the period. Institutional investors and hedge funds own 36.26% of the company’s stock.

FS KKR Capital Company Profile

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.