Shares of FS Investment Corporation (NYSE:FSIC) have earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $9.75.
A number of analysts have recently weighed in on FSIC shares. TheStreet raised shares of FS Investment Corporation from a “c” rating to a “b” rating in a research note on Monday, April 17th. Zacks Investment Research raised shares of FS Investment Corporation from a “sell” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Wednesday, May 3rd. Keefe, Bruyette & Woods set a $10.00 target price on shares of FS Investment Corporation and gave the company a “hold” rating in a research note on Wednesday, May 31st. Wells Fargo & Company lowered shares of FS Investment Corporation from an “outperform” rating to a “market perform” rating in a research note on Friday, March 3rd. Finally, National Securities reissued a “neutral” rating and set a $10.00 target price on shares of FS Investment Corporation in a research note on Monday, May 15th.
Shares of FS Investment Corporation (NYSE FSIC) traded up 1.09% during midday trading on Tuesday, reaching $9.30. 957,118 shares of the company were exchanged. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 6.13 and a beta of 0.95. FS Investment Corporation has a 52-week low of $8.03 and a 52-week high of $10.80. The company’s 50-day moving average price is $9.33 and its 200 day moving average price is $9.92.
FS Investment Corporation (NYSE:FSIC) last issued its quarterly earnings results on Wednesday, May 10th. The financial services provider reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $106.06 million during the quarter, compared to analyst estimates of $101.94 million. FS Investment Corporation had a net margin of 86.84% and a return on equity of 9.44%. On average, equities analysts predict that FS Investment Corporation will post $0.86 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 21st will be paid a dividend of $0.2228 per share. This represents a $0.89 annualized dividend and a yield of 9.58%. The ex-dividend date is Monday, June 19th. FS Investment Corporation’s dividend payout ratio is presently 58.55%.
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A number of hedge funds have recently added to or reduced their stakes in FSIC. Muzinich & Co. Inc. raised its stake in FS Investment Corporation by 32.0% in the first quarter. Muzinich & Co. Inc. now owns 9,476,520 shares of the financial services provider’s stock valued at $92,870,000 after buying an additional 2,296,435 shares in the last quarter. UBS Group AG raised its stake in FS Investment Corporation by 96.5% in the first quarter. UBS Group AG now owns 2,433,563 shares of the financial services provider’s stock valued at $23,849,000 after buying an additional 1,194,896 shares in the last quarter. Advantage Investment Management LLC acquired a new stake in FS Investment Corporation during the fourth quarter valued at approximately $11,259,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in FS Investment Corporation during the fourth quarter valued at approximately $5,195,000. Finally, Sumitomo Mitsui Asset Management Company LTD raised its stake in FS Investment Corporation by 103.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 860,296 shares of the financial services provider’s stock valued at $8,430,000 after buying an additional 436,519 shares in the last quarter. 33.16% of the stock is owned by institutional investors and hedge funds.
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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