EUR/USD likely to find a peak near 1.25: UBS
In a remarkable display of resilience and growth, FS KKR Capital Corp. (NYSE:FSK) stock has soared to a 52-week high, reaching a price level of $23.41. With a market capitalization of $6.53 billion, FSK stands out for its impressive 12.55% dividend yield and attractive P/E ratio of 12.31. This peak reflects a significant uptrend for the investment firm, which has achieved an impressive 30.17% return over the past year. Investors have shown increased confidence in FSK’s strategic initiatives and performance, propelling the stock to new heights over the past year. According to InvestingPro, FSK has maintained dividend payments for 11 consecutive years, demonstrating the company’s ability to navigate complex market conditions and deliver consistent value to shareholders. For deeper insights into FSK’s performance and additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, FS KKR Capital Corp has announced robust third-quarter results, with net investment income surpassing expectations at $0.77 per share and an adjusted net investment income of $0.74 per share. The company also declared a fourth-quarter distribution of $0.70 per share and made new investments of approximately $1.1 billion, primarily targeting existing portfolio companies. Wells Fargo (NYSE:WFC) has downgraded FS KKR Capital Corp’s stock from Overweight to Equal Weight due to concerns about potential credit risks. Meanwhile, RBC Capital Markets maintained a Sector Perform rating on the company, adjusting the price target to $21 from $20.
FS KKR Capital Corp has also issued an additional $100 million of its 6.125% notes due 2030 and secured a $600 million underwriting agreement for the issuance and sale of notes due to mature in 2030. These recent developments indicate the company’s strategic approach to managing its capital structure and funding requirements. Despite a slight decrease in the net asset value per share from $23.95 to $23.82, the company anticipates a GAAP net investment income of about $0.63 per share for the fourth quarter.
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