FS Investment Co. (NYSE:FSIC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “FS Investment Corporation is a business development company. It primarily originates and invests in senior secured loans and other securities of private U.S. companies, with the investment objective of generating current income and, to a lesser extent, long-term capital appreciation. FS Investment Corporation is based in United States. “
Other equities analysts have also recently issued reports about the company. TheStreet cut FS Investment from a “b” rating to a “c” rating in a report on Wednesday, January 11th. Wells Fargo & Co cut FS Investment from an “outperform” rating to a “market perform” rating in a report on Friday, March 3rd. National Securities boosted their price target on FS Investment from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Monday, March 6th. Finally, Janney Montgomery Scott started coverage on FS Investment in a report on Tuesday, January 24th. They issued a “neutral” rating and a $10.00 price target for the company. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $9.92.
Shares of FS Investment (NYSE:FSIC) traded up 0.52% during trading on Tuesday, reaching $9.70. The company had a trading volume of 803,436 shares. The firm has a 50-day moving average of $10.18 and a 200 day moving average of $9.95. FS Investment has a 52 week low of $8.03 and a 52 week high of $10.80.
FS Investment (NYSE:FSIC) last posted its earnings results on Wednesday, March 1st. The company reported $0.23 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.23. FS Investment had a return on equity of 9.68% and a net margin of 38.26%. On average, equities research analysts forecast that FS Investment will post $0.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 4th. Stockholders of record on Wednesday, March 22nd will be issued a $0.2228 dividend. The ex-dividend date is Monday, March 20th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 9.19%. FS Investment’s dividend payout ratio (DPR) is 130.88%.
Several institutional investors have recently added to or reduced their stakes in FSIC. Tealwood Asset Management Inc. bought a new position in FS Investment during the third quarter worth $100,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in FS Investment 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 during the period. Paragon Capital Management Ltd boosted its position in FS Investment by 8.0% in the third quarter. Paragon Capital Management Ltd now owns 11,027 shares of the company’s stock worth $104,000 after buying an additional 818 shares during the period. Telos Capital Management Inc. bought a new position in FS Investment during the third quarter worth $108,000. Finally, Partnervest Advisory Services LLC boosted its position in FS Investment 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 during the period. 32.41% of the stock is owned by institutional investors.
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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