Shares of FS Investment Co. (NYSE:FSIC) have received a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.50.
FSIC has been the topic of several recent research reports. Zacks Investment Research downgraded shares of FS Investment from a “buy” rating to a “hold” rating in a report on Monday, October 16th. ValuEngine raised shares of FS Investment from a “hold” rating to a “buy” rating in a report on Friday, December 1st. National Securities raised shares of FS Investment from a “neutral” rating to a “buy” rating in a report on Friday, December 15th. BidaskClub downgraded shares of FS Investment from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods set a $9.00 price objective on shares of FS Investment and gave the company a “hold” rating in a report on Thursday, October 5th.
Shares of FS Investment (FSIC) traded up $0.10 during trading on Monday, reaching $7.70. 2,767,529 shares of the company’s stock were exchanged, compared to its average volume of 2,140,000. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.12 and a quick ratio of 2.12. FS Investment has a twelve month low of $7.32 and a twelve month high of $10.80. The firm has a market cap of $1,890.00, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 3.19 and a beta of 0.94.
FS Investment (NYSE:FSIC) last issued its quarterly earnings results on Thursday, November 9th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. FS Investment had a net margin of 52.49% and a return on equity of 8.97%. The business had revenue of $103.69 million for the quarter, compared to analyst estimates of $97.03 million. equities research analysts anticipate that FS Investment will post 0.8 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 9.87%. The ex-dividend date of this dividend was Tuesday, December 19th. FS Investment’s dividend payout ratio (DPR) is presently 85.39%.
In other news, insider Michael John Kelly purchased 10,000 shares of the stock in a transaction that occurred on Friday, December 28th. The shares were purchased at an average cost of $7.49 per share, with a total value of $74,900.00. Following the completion of the acquisition, the insider now owns 35,000 shares of the company’s stock, valued at approximately $262,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael C. Forman purchased 16,531 shares of the stock in a transaction that occurred on Thursday, December 28th. The shares were purchased at an average cost of $7.46 per share, for a total transaction of $123,321.26. The disclosure for this purchase can be found here. Insiders have purchased 102,512 shares of company stock worth $778,137 over the last three months. 1.00% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of FSIC. Bank of New York Mellon Corp raised its position in FS Investment by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 254,724 shares of the financial services provider’s stock worth $2,330,000 after acquiring an additional 5,104 shares during the period. Legal & General Group Plc raised its position in FS Investment by 10.9% during the second quarter. Legal & General Group Plc now owns 648,490 shares of the financial services provider’s stock worth $5,950,000 after acquiring an additional 63,766 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in FS Investment by 2.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 16,493 shares of the financial services provider’s stock worth $151,000 after acquiring an additional 362 shares during the period. Airain ltd acquired a new position in FS Investment during the second quarter worth $246,000. Finally, Neuberger Berman Group LLC raised its position in FS Investment by 2.9% during the second quarter. Neuberger Berman Group LLC now owns 390,250 shares of the financial services provider’s stock worth $3,571,000 after acquiring an additional 11,000 shares during the period. Institutional investors own 32.36% of the company’s stock.
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About FS Investment
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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