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

FS KKR Capital Corp. (NYSE:FSK) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors of record on Wednesday, March 19th will be given a dividend of 0.70 per share on Wednesday, April 2nd. This represents a $2.80 annualized dividend and a dividend yield of 12.27%. The ex-dividend date is Wednesday, March 19th.

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. 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 Trading Down 0.3 %

NYSE:FSK opened at $22.83 on Friday. The business’s 50-day simple moving average is $22.54 and its 200 day simple moving average is $21.20. FS KKR Capital has a one year low of $18.31 and a one year high of $24.10. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 12.14 and a beta of 1.25. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.96 and a current ratio of 2.96.

FS KKR Capital (NYSE:FSK) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). FS KKR Capital had a net margin of 29.98% and a return on equity of 12.31%. The firm had revenue of $407.00 million for the quarter, compared to analyst estimates of $419.97 million. As a group, sell-side analysts predict that FS KKR Capital will post 2.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FSK shares. 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. Royal Bank of Canada upped their target price on FS KKR Capital from $20.00 to $21.00 and gave the company a “sector perform” rating in a report on Monday, November 18th. JPMorgan Chase & Co. upped their target price on FS KKR Capital from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $21.00 target price on shares of FS KKR Capital in a report on Monday, December 2nd. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, FS KKR Capital currently has an average rating of “Hold” and a consensus price target of $20.79.

Insider Buying and Selling at FS KKR Capital

In other news, insider Brian Gerson purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was purchased at an average cost of $22.08 per share, with a total value of $110,400.00. Following the purchase, the insider now owns 15,109 shares in the company, valued at $333,606.72. This trade represents a 49.46 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders bought 11,500 shares of company stock valued at $248,910. 0.25% of the stock is owned by corporate insiders.

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.