13 August, 2017
On average, analysts expect that FS Investment Corporation will report full year sales of $103.14 million for the current year, with estimates ranging from $399.00 million to $434.25 million. Goldman Sachs Group Inc. now owns 267,095 shares of the financial services provider's stock worth $2,618,000 after buying an additional 92,778 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. purchased a new stake in shares of FS Investment Corporation during the first quarter worth $246,000. Sumitomo Mitsui Trust Holdings Inc. now owns 16,493 shares of the financial services provider's stock valued at $151,000 after buying an additional 362 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in FS Investment Corporation by 21.7% in the second quarter. HighTower Advisors LLC boosted its stake in shares of FS Investment Corporation by 1.0% in the first quarter. HighTower Advisors LLC now owns 58,338 shares of the financial services provider's stock valued at $573,000 after buying an additional 579 shares during the last quarter. Van ECK Associates Corp now owns 1,672,044 shares of the financial services provider's stock valued at $15,299,000 after buying an additional 298,166 shares during the period.
FS Investment Corporation (FSIC) trying to make some eye-catching movements in term of technical analysis. FS Investment had 12 analyst reports since August 12, 2015 according to SRatingsIntel.
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.
On August 9, 2017, FS Investment Corporation (the "Company") issued a press release (the "Press Release") providing an overview of its operating results for the quarter ended June 30, 2017. Note, this compares with a consensus analyst forecast of 0.2 in earnings per share for its next fiscal quarterly report.
Net profit margin of the company is seen at 86.80%.
The company also declared a dividend paid on Wednesday the 5th of July 2017. However the company reported $0.58 earnings per share for the same quarter during past year. The ex-dividend date of this dividend is Tuesday, September 19th. FS Investment Corporation's payout ratio is now 87.26%.
FS Investment Corporation (NYSE:FSIC) last announced its quarterly earnings data on Wednesday, August 9th. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & worldwide trademark and copyright law. The legal version of this news story can be accessed at https://www.baseball-news-blog.com/2017/08/11/fs-investment-corporation-nysefsic-stake-cut-by-bank-of-montreal-can-updated-updated-updated.html. Previously FS Investment Corp (NYSE:FSIC) reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.2 by $-0.12 with surprise factor of -60%. Cantor Fitzgerald upgraded FS Investment Corporation (NYSE:FSIC) on Monday, January 11 to "Buy" rating. Keefe, Bruyette & Woods restated a "hold" rating and set a $10.00 target price on shares of FS Investment Corporation in a report on Friday, April 28th. Barclays lowered the price target and downgraded the stock on September 7 changing the price objective from $10.00 to $9.00 and changing the rating from "Overweight" to "Equal-weight". One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company's stock. The firm has "Hold" rating by Keefe Bruyette & Woods given on Wednesday, May 31.
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. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David J. Adelman acquired 11,160 shares of the firm's stock in a transaction that occurred on Thursday, June 22nd. The stock was bought at an average price of $8.88 per share, with a total value of $99,100.80. Following the completion of the acquisition, the director now directly owns 34,063 shares in the company, valued at $302,479.44. The disclosure for this purchase can be found here. The institutional investor held 39,700 shares of the major banks company at the end of 2016Q4, valued at $2.36M, down from 79,400 at the end of the previous reported quarter.
FS Investment Corporation, launched on December 21, 2007, 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.