Shares of FS Investment Corporation (NYSE:FSIC) have earned a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $9.67.
Several equities analysts recently issued reports on the stock. ValuEngine raised shares of FS Investment Corporation from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Keefe, Bruyette & Woods set a $9.00 price objective on shares of FS Investment Corporation and gave the company a “hold” rating in a research note on Thursday, October 5th. Zacks Investment Research downgraded shares of FS Investment Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, BidaskClub downgraded shares of FS Investment Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday.
In related news, CEO Michael C. Forman purchased 17,100 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were bought at an average price of $8.41 per share, with a total value of $143,811.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have acquired 21,575 shares of company stock worth $181,177. 1.00% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of FSIC. BDO Wealth Advisors LLC purchased a new position in FS Investment Corporation during the second quarter worth approximately $103,000. Advisory Services Network LLC raised its stake in FS Investment Corporation by 3.6% during the second quarter. Advisory Services Network LLC now owns 11,577 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 400 shares during the period. Shelton Capital Management purchased a new position in FS Investment Corporation during the second quarter worth approximately $111,000. JPMorgan Chase & Co. purchased a new position in FS Investment Corporation during the first quarter worth approximately $122,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in FS Investment Corporation during the second quarter worth approximately $135,000. 32.47% of the stock is currently owned by institutional investors.
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Shares of FS Investment Corporation (NYSE:FSIC) traded up 0.61% during mid-day trading on Wednesday, hitting $8.30. 640,526 shares of the stock were exchanged. FS Investment Corporation has a one year low of $7.95 and a one year high of $10.80. The company has a 50-day moving average of $8.29 and a 200 day moving average of $8.97.
FS Investment Corporation (NYSE:FSIC) last announced its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). FS Investment Corporation had a net margin of 59.88% and a return on equity of 8.92%. The business had revenue of $98.70 million during the quarter, compared to analysts’ expectations of $103.14 million. Equities analysts predict that FS Investment Corporation will post $0.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Wednesday, September 20th were paid a dividend of $0.2228 per share. This represents a $0.89 dividend on an annualized basis and a yield of 10.73%. The ex-dividend date was Tuesday, September 19th. FS Investment Corporation’s dividend payout ratio is currently 87.26%.
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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