FS KKR Capital (NYSE:FSK) Upgraded by Zacks Research to Hold Rating

FS KKR Capital (NYSE:FSK) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages have also recently issued reports on FSK. Capital One Financial set a $12.00 price objective on FS KKR Capital in a research note on Friday, August 7th. Wells Fargo & Company dropped their target price on shares of FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Keefe, Bruyette & Woods decreased their price target on FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating for the company in a research note on Thursday, April 16th. Wall Street Zen upgraded FS KKR Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $13.00 price objective (up from $11.00) on shares of FS KKR Capital in a research note on Wednesday. Seven analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, FS KKR Capital currently has a consensus rating of “Reduce” and a consensus target price of $11.21.

FS KKR Capital Trading Down 0.5%

NYSE:FSK opened at $12.19 on Tuesday. The company has a market cap of $3.37 billion, a PE ratio of -9.03 and a beta of 0.83. The business’s 50 day moving average is $10.83 and its two-hundred day moving average is $11.19. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.38. FS KKR Capital has a 52 week low of $9.72 and a 52 week high of $18.25.

FS KKR Capital (NYSE:FSK) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. FS KKR Capital had a positive return on equity of 9.43% and a negative net margin of 28.52%.The business had revenue of $290.00 million during the quarter, compared to the consensus estimate of $286.75 million. During the same period in the previous year, the business earned ($0.75) EPS. On average, analysts predict that FS KKR Capital will post 1.64 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FSK. Northwestern Mutual Wealth Management Co. grew its holdings in FS KKR Capital by 55,074.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 7,741,004 shares of the company’s stock valued at $114,644,000 after buying an additional 7,726,974 shares during the last quarter. Saba Capital Management L.P. acquired a new stake in shares of FS KKR Capital during the first quarter worth approximately $35,729,000. Oak Hill Advisors LP bought a new position in shares of FS KKR Capital in the fourth quarter valued at approximately $38,659,000. Cura Wealth Advisors LLC bought a new position in shares of FS KKR Capital in the second quarter valued at approximately $22,391,000. Finally, Rivernorth Capital Management LLC boosted its holdings in shares of FS KKR Capital by 580.7% in the 1st quarter. Rivernorth Capital Management LLC now owns 2,097,170 shares of the company’s stock worth $21,349,000 after acquiring an additional 1,789,090 shares in the last quarter. 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.