FS KKR Capital Corp. (NYSE:FSK) Increases Dividend to $0.70 Per Share

FS KKR Capital Corp. (NYSE:FSK) declared a None dividend on Wednesday, October 9th, Zacks reports. Shareholders of record on Wednesday, December 4th will be paid a dividend of 0.70 per share on Wednesday, December 18th. The ex-dividend date of this dividend is Wednesday, December 4th. This is a boost from FS KKR Capital’s previous None dividend of $0.64.

FS KKR Capital has a dividend payout ratio of 99.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect FS KKR Capital to earn $2.55 per share next year, which means the company may not be able to cover its $2.56 annual dividend with an expected future payout ratio of 100.4%.

FS KKR Capital Stock Performance

Shares of NYSE:FSK traded up $0.04 on Friday, reaching $20.16. The company’s stock had a trading volume of 58,652 shares, compared to its average volume of 1,434,051. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.34 and a quick ratio of 2.34. FS KKR Capital has a 52-week low of $18.31 and a 52-week high of $20.99. The stock’s 50-day moving average is $19.74 and its two-hundred day moving average is $19.75. The stock has a market capitalization of $5.65 billion, a P/E ratio of 8.90 and a beta of 1.25.

FS KKR Capital (NYSE:FSK) last announced its earnings results on Tuesday, August 6th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.04. FS KKR Capital had a return on equity of 12.39% and a net margin of 35.46%. The company had revenue of $439.00 million for the quarter, compared to the consensus estimate of $426.41 million. During the same period last year, the business posted $0.78 EPS. As a group, sell-side analysts forecast that FS KKR Capital will post 2.86 EPS for the current year.

Insider Activity

In related news, insider Daniel Pietrzak bought 5,000 shares of the stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $19.21 per share, for a total transaction of $96,050.00. Following the completion of the transaction, the insider now owns 44,800 shares of the company’s stock, valued at $860,608. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Daniel Pietrzak acquired 5,000 shares of FS KKR Capital stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $19.21 per share, with a total value of $96,050.00. Following the completion of the acquisition, the insider now owns 44,800 shares in the company, valued at $860,608. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael C. Forman sold 195,139 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $19.56, for a total value of $3,816,918.84. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on FSK. Wells Fargo & Company cut their price objective on shares of FS KKR Capital from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $20.00 price target on shares of FS KKR Capital in a report on Wednesday, August 14th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.06.

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.