Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods restated a "hold" rating and set a $10.00 price objective on shares of FS Investment Corporation in a research report on Tuesday, July 25th. Finally, National Securities reissued a "neutral" rating and issued a $10.00 price target on shares of FS Investment Corporation in a report on Monday, May 15th.
FS Investment Corporation was downgraded by analysts at BidaskClub from a "sell" rating to a "strong sell" rating. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock.
March 2 investment analysts at JP Morgan left the company rating at "Neutral" but moved down the price target from $9.00 to $8.50.
FS Investment Corp (NYSE:FSIC) shares traded -3.45% down during most recent session to reach at the closing price of $8.4.
Shares are trading at $8.70 which is just under the 50 day moving average of $9.07 and which is a tad under the 200 day moving average of $9.65. FS Investment Corporation had a return on equity of 8.90% and a net margin of 59.88%. This continues to be an interesting story, and we look forward to updating it again soon on FS Investment Corporation. The financial services provider reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.02.
FS Investment Corporation has a dividend payout ratio of 109.9% meaning the company can not now cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Last quarter, the company saw 5.04 million in total revenues. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & worldwide copyright and trademark law.
FS Investment Corporation (NYSE:FSIC) last posted its quarterly earnings data on Wednesday, August 9th. The dividend payment was $0.223 per share for the quarter which comes to $0.89 on an annualized basis. "(C) Ex-Dividend Date Scheduled for August 03, 2017" on August 02, 2017. FS Investment Corporation's dividend payout ratio (DPR) is presently 87.26%.
In associated news, Chief Executive Officer Michael C. Forman bought 17,100 stocks of the company's shares in a trade that took place on Thurs, Aug 10th. Director David J. Adelman purchased 600 shares at an average price of $8.93 on Friday the 23rd. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The shares were purchased at an average cost of $8.88 per share, for a total transaction of $99,100.80. Following the completion of the transaction, the director now directly owns 34,063 shares of the company's stock, valued at approximately $302,479.44. The disclosure for this purchase can be found here. In the last three months, insiders acquired 38,880 shares of company stock worth $345,560.
On August 9, 2017, in the Press Release, the Company announced a regular cash distribution of $0.22275 per share, which will be paid on or about October 3, 2017 to stockholders of record as of the close of business on September 20, 2017.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSIC. Mackenzie Financial Corp raised its position in shares of FS Investment Corporation by 62.0% in the first quarter. First Heartland Consultants Inc. now owns 30,332 shares of the financial services provider's stock valued at $297,000 after buying an additional 425 shares during the last quarter. Legal & General Group Plc now owns 584,724 shares of the financial services provider's stock valued at $5,716,000 after buying an additional 50,874 shares during the period. Finally, M Holdings Securities Inc. increased its position in FS Investment Corporation by 2.6% in the first quarter. Company insiders own 1.00% of the company's stock. As of the end of the quarter Cambridge Investment Research Advisors, Inc. had bought 110,543 shares growing its position 4.9%. Private Advisor Group LLC now owns 1,925,212 shares of the financial services provider's stock worth $18,675,000 after buying an additional 115,030 shares during the period. Exencial Wealth Advisors LLC increased its position in FS Investment Corporation by 4.4% in the first quarter. M&T Bank Corp now owns 1,640,622 shares of the financial services provider's stock worth $16,078,000 after buying an additional 68,719 shares during the period.
The company posted earnings of $98.70 M for the period end, compared to analysts' anticipations of $103.14 M. experts expect that FS Investment Corporation to post $0.78 earnings per share for the financial year.