Brokerages expect FS Investment Corporation (NYSE:FSIC) to announce sales of $103.14 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for FS Investment Corporation’s earnings, with the highest sales estimate coming in at $107.79 million and the lowest estimate coming in at $99.00 million. FS Investment Corporation reported sales of $110.21 million during the same quarter last year, which indicates a negative year over year growth rate of 6.4%. The business is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, August 9th.
On average, analysts expect that FS Investment Corporation will report full year sales of $103.14 million for the current fiscal year, with estimates ranging from $399.00 million to $434.25 million. For the next financial year, analysts expect that the business will report sales of $420.41 million per share, with estimates ranging from $397.00 million to $445.12 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover FS Investment Corporation.
FS Investment Corporation (NYSE:FSIC) last posted its earnings results on Wednesday, May 10th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $106.06 million for the quarter, compared to analysts’ expectations of $101.94 million. FS Investment Corporation had a return on equity of 9.44% and a net margin of 86.84%.
Several analysts recently commented on the company. BidaskClub lowered FS Investment Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Zacks Investment Research lowered FS Investment Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $10.00 price target on shares of FS Investment Corporation in a research note on Tuesday, July 25th. Finally, National Securities reissued a “neutral” rating and issued a $10.00 price objective on shares of FS Investment Corporation in a research note on Monday, May 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $9.79.
In other news, CEO Michael C. Forman purchased 22,320 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were acquired at an average price of $8.88 per share, with a total value of $198,201.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David J. Adelman purchased 11,160 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were purchased at an average cost of $8.88 per share, for a total transaction of $99,100.80. Following the purchase, the director now directly owns 34,063 shares of the company’s stock, valued at $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. Insiders own 1.00% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Tocqueville Asset Management L.P. raised its position in shares of FS Investment Corporation by 8.5% in the first quarter. Tocqueville Asset Management L.P. now owns 23,000 shares of the financial services provider’s stock valued at $225,000 after buying an additional 1,800 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of FS Investment Corporation by 103.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 860,296 shares of the financial services provider’s stock valued at $8,430,000 after buying an additional 436,519 shares during the period. Exencial Wealth Advisors LLC raised its position in shares of FS Investment Corporation by 4.4% in the first 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 period. IFP Advisors Inc raised its position in shares of FS Investment Corporation by 29.3% in the first quarter. IFP Advisors Inc now owns 710,172 shares of the financial services provider’s stock valued at $6,960,000 after buying an additional 161,032 shares during the period. Finally, Paragon Capital Management Ltd purchased a new position in shares of FS Investment Corporation during the first quarter valued at about $155,000. 31.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of FS Investment Corporation (FSIC) opened at 8.95 on Wednesday. The firm has a 50-day moving average price of $9.07 and a 200-day moving average price of $9.65. FS Investment Corporation has a 1-year low of $8.76 and a 1-year high of $10.80.
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FS Investment Corporation Company Profile
FS Investment Corporation 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. Its portfolio consists primarily of investments in senior secured loans and second lien secured loans of the private United States middle market companies and subordinated loans of the private United States companies.
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