FS Investment Corp. (NYSE:FSIC) was downgraded by research analysts at TheStreet from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
Several other research firms have also weighed in on FSIC. Barclays PLC lowered shares of FS Investment Corp. from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $10.00 to $9.00 in a research note on Wednesday, September 7th. DA Davidson restated a “buy” rating and set a $10.00 price target on shares of FS Investment Corp. in a research note on Saturday, August 13th. National Securities restated a “neutral” rating and set a $9.00 price target on shares of FS Investment Corp. in a research note on Friday, August 12th. Zacks Investment Research lowered shares of FS Investment Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, August 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of FS Investment Corp. from $9.00 to $9.50 and gave the company a “neutral” rating in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $9.75.
FS Investment Corp. (NYSE:FSIC) opened at 9.47 on Thursday. The stock has a 50 day moving average of $9.62 and a 200 day moving average of $9.25. FS Investment Corp. has a 12 month low of $7.11 and a 12 month high of $10.05.
FS Investment Corp. (NYSE:FSIC) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. FS Investment Corp. had a net margin of 10.27% and a return on equity of 9.65%. Analysts anticipate that FS Investment Corp. will post $0.96 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Wednesday, September 21st will be issued a dividend of $0.2228 per share. This represents a $0.89 dividend on an annualized basis and a yield of 9.41%. The ex-dividend date of this dividend is Monday, September 19th. FS Investment Corp.’s dividend payout ratio is 468.45%.
A number of institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. increased its position in FS Investment Corp. by 4.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,508 shares of the company’s stock worth $104,000 after buying an additional 498 shares in the last quarter. Partnervest Advisory Services LLC increased its position in FS Investment Corp. by 5.0% in the second quarter. Partnervest Advisory Services LLC now owns 12,097 shares of the company’s stock worth $109,000 after buying an additional 579 shares in the last quarter. Frontier Wealth Management LLC increased its position in FS Investment Corp. by 6.3% in the second quarter. Frontier Wealth Management LLC now owns 12,204 shares of the company’s stock worth $110,000 after buying an additional 726 shares in the last quarter. Boyle Capital Management LLC purchased a new position in FS Investment Corp. during the second quarter worth about $117,000. Finally, Clark Capital Management Group Inc. purchased a new position in FS Investment Corp. during the first quarter worth about $132,000. 29.92% of the stock is currently owned by hedge funds and other institutional investors.
FS Investment Corp. Company Profile
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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