Crescent Capital BDC (NASDAQ:CCAP) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Crescent Capital BDC (NASDAQ:CCAP) released its earnings results on Monday. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02, Zacks reports. The business had revenue of $36.89 million for the quarter, compared to analyst estimates of $36.37 million. Crescent Capital BDC had a negative net margin of 0.10% and a positive return on equity of 8.66%.

Crescent Capital BDC Stock Down 1.1%

Shares of CCAP stock traded down $0.12 on Wednesday, reaching $10.27. 79,383 shares of the company were exchanged, compared to its average volume of 230,415. The company has a market cap of $378.27 million, a price-to-earnings ratio of -1,026.70 and a beta of 0.56. The company has a 50-day moving average of $9.44 and a 200-day moving average of $11.53. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30. Crescent Capital BDC has a one year low of $8.40 and a one year high of $15.18.

Crescent Capital BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend is Thursday, December 31st. Crescent Capital BDC’s dividend payout ratio is -1,511.11%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CCAP. Raymond James Financial set a $10.00 target price on Crescent Capital BDC in a research report on Thursday, October 22nd. Bank of America downgraded Crescent Capital BDC from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $13.00 to $10.25 in a report on Thursday, September 10th. Wall Street Zen raised Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. LADENBURG THALM/SH SH lowered Crescent Capital BDC from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research note on Wednesday. Finally, B. Riley Financial cut their price target on Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating on the stock in a report on Wednesday, August 12th. Seven equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, Crescent Capital BDC presently has an average rating of “Hold” and an average price target of $11.54.

Latest Crescent Capital BDC News

Here’s some of the latest news about CCAP:

• Positive Sentiment: Quarterly results beat expectations. CCAP reported Q3 net investment income of $0.37 per share, above the $0.35 consensus, and revenue of $36.89 million versus estimates of $36.37 million. Earnings were still below $0.46 per share a year earlier. Q3 earnings report
• Positive Sentiment: Buyback and dividend may support shareholder returns. The company authorized a $50 million share repurchase program and declared a quarterly base dividend of $0.34 per share, equivalent to $1.36 annualized. The announced dividend yield was about 13.1%, though dividends and yields can change. Company earnings and capital-return announcement
• Negative Sentiment: Buyout-lending activity weakened. Direct lending for buyouts fell 60% year over year, raising concerns about deal flow and future investment opportunities. Investors will also watch for the company’s targeted Q4 2026 joint-venture completion. Long-term investor takeaways

Insider Buying and Selling

In related news, major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $10.23, for a total value of $1,422,522.42. Following the completion of the sale, the insider directly owned 3,680,307 shares of the company’s stock, valued at $37,649,540.61. The trade was a 3.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 451,543 shares of company stock valued at $4,689,738. Insiders own 1.23% of the company’s stock.

About Crescent Capital BDC

Crescent Capital BDC, Inc. is a business development company that provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and equity securities. Its investment portfolio is focused primarily on senior secured loans, including first-lien and second-lien loans, as well as other debt investments and selected equity interests. Crescent Capital BDC generally works with established companies across a range of industries, providing capital for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.