Published: Sat, August 12, 2017
Global News | By Stacy Ballard

FS Investment Corporation (FSIC) Downgraded to Sell at Zacks Investment Research


UBS Group AG increased its stake in shares of FS Investment Corporation by 96.5% in the first quarter. It primarily originates and invests in senior secured loans and other securities of private USA companies, with the investment objective of generating current income and, to a lesser extent, long-term capital appreciation. Finally, Bank of Nova Scotia increased its stake in FS Investment Corporation by 31.9% in the first quarter.

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald upgraded the shares of FSIC in report on Monday, January 11 to "Buy" rating.

FS Investment Corporation (FSIC) now has P/E (Price to Earnings) ratio of 5.73 while the company's industry has 7.56 P/E and the sector P/E is 22.54. 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.

Zacks Investment Research upgraded shares of FS Investment Corporation (NYSE:FSIC) from a sell rating to a hold rating in a report issued on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. FS Investment Corporation presently has a consensus rating of Hold and an average target price of $9.83.

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Following previous thoughts, shifting focus on performance of the FS Investment Corporation (NYSE:FSIC) that has shown a discernible change in trend levels over the path of recent market activity. Company chares are trading at $8.65 a bit lower than the 50 day moving average which is $9.07 and marginally under the 200 day moving average of $9.65. FS Investment Corporation has a one year low of $8.30 and a one year high of $10.80. This continues to be an interesting story, and we look forward to updating it again soon on FS Investment Corporation.

In terms of earnings per share, 6 analysts have a 0.20 EPS mean target for the quarter ending Sep-17, for the quarter ending Dec-17, 6 analysts have a 0.20 EPS mean target and for the quarter ending Dec-17 there are 5 estimates of 0.84 EPS. Return on Equity (ROE) stands at 16.2% and Return on Investment (ROI) of 5.2 percent.

4 number of analysts have estimated the sales of the company for the quarter, analysts estimated mean sale target of 102.33 million while high and low sale targets are estimated at 106.93 million and 98.3 million respectively. Analysts predict that FS Investment Corporation will post $0.78 EPS for the current fiscal year.

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FS Investment Corporation (NYSE:FSIC) declared a quarterly dividend on Thursday, August 10th, Wall Street Journal reports. Shareholders of record on Wednesday, June 21st were issued a dividend of $0.2228 per share.

They expect $0.2 EPS, down 20% or $0.04 from last year's $0.24 per share. "(C) Ex-Dividend Date Scheduled for August 03, 2017" on August 02, 2017. The shares were purchased at an average cost of $8.88 per share, for a total transaction of $198,201.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

In other FS Investment Corporation news, Director David J. Adelman acquired 11,160 shares of the company's stock in a transaction on Thursday, June 22nd. The shares were bought at an average price of $8.88 per share, with a total value of $99,100.80. In the last three months, insiders bought 38,880 shares of company stock worth $345,560. Private Advisor Group, LLC grew its ownership by buying 153,798 shares an increase of 8.0%. Institutional investors and hedge funds own 32.76% of the company's stock. Advisory Services Network LLC purchased a new position in FS Investment Corporation during the first quarter worth approximately $110,000. 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. Exencial Wealth Advisors LLC now owns 15,311 shares of the financial services provider's stock valued at $147,000 after buying an additional 650 shares during the last quarter. The Director now owns $8,071,032 of the stock per the Form 4 SEC filing. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of FS Investment Corporation by 103.0% in the first quarter. Bank of Nova Scotia now owns 413,000 shares of the financial services provider's stock worth $4,047,000 after buying an additional 100,000 shares during the last quarter.

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