Zacks Investment Research upgraded shares of BlackRock Kelso Capital Corp. (NASDAQ:BKCC) from a hold rating to a buy rating in a research report sent to investors on Monday. Zacks Investment Research currently has $8.75 target price on the stock.
According to Zacks, “BlackRock Kelso Capital Corporation provides responsive, creative and flexible capital solutions to middle-market companies. BlackRock Kelso Capital provides middle-market companies with flexible financing solutions, including senior and junior secured, unsecured and subordinated debt securities and loans, and equity securities. The Companies strategy is to provide capital to meet our clients’ current and future needs across this spectrum, creating long-term partnerships with growing middle-market companies. “
Shares of BlackRock Kelso Capital Corp. (NASDAQ:BKCC) traded up 0.51% during mid-day trading on Monday, reaching $7.85. 21,859 shares of the company were exchanged. BlackRock Kelso Capital Corp. has a 12 month low of $7.15 and a 12 month high of $10.20. The firm has a 50-day moving average price of $8.35 and a 200 day moving average price of $8.30.
BlackRock Kelso Capital Corp. (NASDAQ:BKCC) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. BlackRock Kelso Capital Corp. had a negative net margin of 36.05% and a positive return on equity of 11.25%. During the same quarter in the prior year, the company posted $0.23 earnings per share. On average, equities analysts expect that BlackRock Kelso Capital Corp. will post $1.03 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 19th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 10.76%. The ex-dividend date was Thursday, September 15th. BlackRock Kelso Capital Corp.’s dividend payout ratio is currently -142.37%.
Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can purchased a new position in shares of BlackRock Kelso Capital Corp. during the second quarter valued at about $4,178,000. Telemus Capital LLC purchased a new position in shares of BlackRock Kelso Capital Corp. during the second quarter valued at about $2,337,000. Nuveen Fund Advisors LLC purchased a new position in shares of BlackRock Kelso Capital Corp. during the second quarter valued at about $1,535,000. LPL Financial LLC increased its position in shares of BlackRock Kelso Capital Corp. by 119.9% in the first quarter. LPL Financial LLC now owns 167,020 shares of the company’s stock valued at $1,580,000 after buying an additional 91,074 shares in the last quarter. Finally, Raiff Partners Inc. purchased a new position in shares of BlackRock Kelso Capital Corp. during the second quarter valued at about $467,000. 23.05% of the stock is owned by hedge funds and other institutional investors.
About BlackRock Kelso Capital Corp.
BlackRock Capital Investment Corporation, formerly BlackRock Kelso Capital Corporation, is an externally-managed, non-diversified, closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation through its debt and equity investments.