FS KKR Capital Corp. (NYSE:FSK) Declares $0.42 Quarterly Dividend

FS KKR Capital Corp. (NYSE:FSK) announced a quarterly dividend on Wednesday, May 6th. Investors of record on Wednesday, June 17th will be given a dividend of 0.42 per share on Thursday, July 2nd. This represents a c) annualized dividend and a dividend yield of 15.2%. The ex-dividend date of this dividend is Wednesday, June 17th.

FS KKR Capital has increased its dividend payment by an average of 0.0%per year over the last three years. FS KKR Capital has a dividend payout ratio of 69.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect FS KKR Capital to earn $1.57 per share next year, which means the company may not be able to cover its $1.68 annual dividend with an expected future payout ratio of 107.0%.

FS KKR Capital Price Performance

NYSE:FSK opened at $11.05 on Monday. FS KKR Capital has a one year low of $9.72 and a one year high of $22.68. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a market cap of $3.09 billion, a PE ratio of -5.61 and a beta of 0.83. The stock has a 50 day moving average price of $10.82 and a 200 day moving average price of $12.46.

FS KKR Capital (NYSE:FSK) last released its quarterly earnings data on Monday, May 11th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). FS KKR Capital had a negative net margin of 38.65% and a positive return on equity of 4.34%. The business had revenue of $304.00 million during the quarter, compared to analyst estimates of $316.81 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s revenue was down 24.0% on a year-over-year basis. Equities research analysts expect that FS KKR Capital will post 1.66 EPS for the current fiscal year.

Analysts Set New Price Targets

FSK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price objective on FS KKR Capital from $13.00 to $9.50 and set a “neutral” rating on the stock in a report on Friday, March 13th. Keefe, Bruyette & Woods decreased their price objective on FS KKR Capital from $15.00 to $11.00 and set a “market perform” rating on the stock in a report on Thursday, April 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of FS KKR Capital in a report on Tuesday, June 2nd. Wells Fargo & Company decreased their price objective on FS KKR Capital from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Finally, Truist Financial decreased their price objective on FS KKR Capital from $17.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, March 4th. Seven equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $10.58.

FS KKR Capital Company Profile

FS KKR Capital Corp (NYSE:FSK) is a closed-end, externally managed business development company that primarily invests in private middle-market U.S. companies. The firm seeks to generate current income and capital appreciation by structuring investments in floating-rate senior secured loans, unitranche financings, second lien debt and mezzanine instruments. As a business development company, FSK provides financing solutions designed to support growth initiatives, acquisitions, leveraged buyouts and recapitalizations for privately held enterprises.

Established in 2018 through a strategic partnership between FS Investment Corporation and KKR Credit Advisors, a division of global investment firm KKR & Co Inc, FSK combines the credit underwriting capabilities of KKR’s global platform with FS’s expertise in private credit markets.