FS Investment Co. (NYSE:FSIC) announced a quarterly dividend on Thursday, November 8th, Wall Street Journal reports. Investors of record on Wednesday, December 12th will be given a dividend of 0.19 per share by the financial services provider on Wednesday, January 2nd. This represents a $0.76 dividend on an annualized basis and a yield of 12.44%. The ex-dividend date of this dividend is Tuesday, December 11th.
FS Investment has increased its dividend payment by an average of 3.2% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. FS Investment has a payout ratio of 97.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect FS Investment to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 95.0%.
FSIC opened at $6.11 on Thursday. The firm has a market cap of $1.46 billion, a P/E ratio of 7.36, a PEG ratio of 2.55 and a beta of 0.95. FS Investment has a twelve month low of $5.90 and a twelve month high of $8.24. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.75.
FS Investment (NYSE:FSIC) last released its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.04. The business had revenue of $94.52 million during the quarter, compared to analyst estimates of $96.66 million. FS Investment had a negative net margin of 3.73% and a positive return on equity of 9.57%. Equities analysts forecast that FS Investment will post 0.8 earnings per share for the current year.
A number of research firms recently weighed in on FSIC. Barclays set a $8.00 price target on shares of FS Investment and gave the company a “hold” rating in a report on Saturday, November 10th. Zacks Investment Research upgraded shares of FS Investment from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Tuesday, November 20th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $8.00 price objective on shares of FS Investment in a research note on Friday, August 10th. National Securities reduced their price objective on shares of FS Investment from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 12th. Finally, ValuEngine downgraded shares of FS Investment from a “sell” rating to a “strong sell” rating in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $8.25.
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About FS Investment
FS Investment Corporation is a business development company specializing in investments in debt securities. It seeks to purchase interests in loans through secondary market transactions or directly from the target companies as primary market investments. It also seeks to invest in first lien senior secured loans, second lien secured loans and, to a lesser extent, subordinated loans, or mezzanine loans.
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