FS KKR Capital Corp. (NYSE:FSK) Announces Quarterly Dividend of $0.70

FS KKR Capital Corp. (NYSE:FSK) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Stockholders of record on Wednesday, March 19th will be paid a dividend of 0.70 per share on Wednesday, April 2nd. This represents a $2.80 annualized dividend and a dividend yield of 12.26%.

FS KKR Capital has decreased its dividend payment by an average of 7.1% per year over the last three years. FS KKR Capital has a payout ratio of 100.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect FS KKR Capital to earn $2.60 per share next year, which means the company should continue to be able to cover its $2.56 annual dividend with an expected future payout ratio of 98.5%.

FS KKR Capital Stock Down 2.4 %

FS KKR Capital stock traded down $0.57 during mid-day trading on Wednesday, reaching $22.84. The company’s stock had a trading volume of 2,454,822 shares, compared to its average volume of 1,289,030. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.96 and a current ratio of 2.96. The business’s 50 day simple moving average is $22.47 and its 200 day simple moving average is $21.18. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of 12.15 and a beta of 1.25. FS KKR Capital has a 12 month low of $18.31 and a 12 month high of $24.10.

FS KKR Capital (NYSE:FSK) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). FS KKR Capital had a net margin of 29.98% and a return on equity of 12.31%. As a group, research analysts anticipate that FS KKR Capital will post 2.89 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Daniel Pietrzak acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were bought at an average cost of $21.31 per share, with a total value of $106,550.00. Following the acquisition, the insider now owns 49,800 shares in the company, valued at approximately $1,061,238. This represents a 11.16 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have purchased 11,500 shares of company stock worth $248,910. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FSK shares. JPMorgan Chase & Co. lifted their price target on FS KKR Capital from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Royal Bank of Canada upped their price target on FS KKR Capital from $20.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Monday, November 18th. Wells Fargo & Company reiterated an “equal weight” rating and set a $21.00 price objective on shares of FS KKR Capital in a report on Monday, December 2nd. Finally, B. Riley cut FS KKR Capital from a “buy” rating to a “neutral” rating and set a $21.50 price objective on the stock. in a research note on Wednesday, December 11th. Eight research analysts have rated the stock with a hold rating, According to MarketBeat.com, FS KKR Capital currently has a consensus rating of “Hold” and an average target price of $20.63.

About FS KKR Capital

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.