FS Investment Corporation (FSIC) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of FS Investment Corporation (NYSE:FSIC) from a hold rating to a buy rating in a report released on Monday morning. The firm currently has $9.25 price target on the financial services provider’s stock.
According to Zacks, “FS Investment Corporation is a business development company. It primarily originates and invests in senior secured loans and other securities of private U.S. companies, with the investment objective of generating current income and, to a lesser extent, long-term capital appreciation. FS Investment Corporation is based in United States. “
Several other equities research analysts have also weighed in on the company. National Securities reiterated a neutral rating and issued a $10.00 price objective on shares of FS Investment Corporation in a research note on Monday. BidaskClub lowered FS Investment Corporation from a sell rating to a strong sell rating in a research note on Wednesday, October 18th. Keefe, Bruyette & Woods set a $9.00 price objective on FS Investment Corporation and gave the company a hold rating in a research note on Thursday, October 5th. Finally, ValuEngine upgraded FS Investment Corporation from a hold rating to a buy rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. FS Investment Corporation has a consensus rating of Hold and a consensus price target of $9.56.
FS Investment Corporation (FSIC) remained flat at $$8.20 during mid-day trading on Monday. 832,900 shares of the company traded hands, compared to its average volume of 1,089,129. FS Investment Corporation has a 12 month low of $7.65 and a 12 month high of $10.80. The company has a market capitalization of $2,010.00, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 3.40 and a beta of 0.94. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.12 and a current ratio of 2.12.
FS Investment Corporation (NYSE:FSIC) last released its quarterly earnings data on Thursday, November 9th. The financial services provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. FS Investment Corporation had a return on equity of 8.97% and a net margin of 52.49%. The company had revenue of $103.69 million for the quarter, compared to analyst estimates of $97.03 million. equities analysts expect that FS Investment Corporation will post 0.8 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, December 19th. This represents a $0.76 dividend on an annualized basis and a yield of 9.27%. FS Investment Corporation’s dividend payout ratio (DPR) is presently 100.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSIC. BDO Wealth Advisors LLC bought a new stake in FS Investment Corporation during the 2nd quarter worth approximately $103,000. Advisory Services Network LLC grew its position in FS Investment Corporation by 3.6% during the 2nd quarter. Advisory Services Network LLC now owns 11,577 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 400 shares during the last quarter. Lakeview Capital Partners LLC bought a new stake in FS Investment Corporation during the 3rd quarter worth approximately $108,000. Shelton Capital Management bought a new stake in FS Investment Corporation during the 2nd quarter worth approximately $111,000. Finally, JPMorgan Chase & Co. bought a new stake in FS Investment Corporation during the 1st quarter worth approximately $122,000. Institutional investors and hedge funds own 33.14% of the company’s stock.
About FS Investment Corporation
FS Investment Corporation is an externally managed, non-diversified, closed-end management investment company. The Company’s investment objectives are to generate current income and long-term capital appreciation. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.
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