Crescent Capital BDC, Inc. (CCAP) to Issue Quarterly Dividend of $0.42 on January 15th

Crescent Capital BDC, Inc. (NASDAQ:CCAP) declared a quarterly dividend on Wednesday, November 12th. Investors of record on Wednesday, December 31st will be paid a dividend of 0.42 per share on Thursday, January 15th. This represents a c) annualized dividend and a yield of 11.4%. The ex-dividend date of this dividend is Wednesday, December 31st.

Crescent Capital BDC has a dividend payout ratio of 97.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Crescent Capital BDC Price Performance

Shares of Crescent Capital BDC stock opened at $14.73 on Monday. The stock has a market capitalization of $544.86 million, a price-to-earnings ratio of 15.03 and a beta of 0.55. The firm’s 50-day moving average price is $14.30 and its two-hundred day moving average price is $14.58. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.23. Crescent Capital BDC has a 1-year low of $13.03 and a 1-year high of $20.19.

Crescent Capital BDC (NASDAQ:CCAP) last announced its earnings results on Wednesday, November 12th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). The business had revenue of $41.35 million during the quarter, compared to analyst estimates of $42.35 million. Crescent Capital BDC had a return on equity of 9.76% and a net margin of 20.84%. On average, equities analysts predict that Crescent Capital BDC will post 2.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Monday, December 8th. Keefe, Bruyette & Woods reduced their price target on shares of Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating on the stock in a research report on Friday, November 14th. Oppenheimer lowered their price objective on shares of Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Friday, November 14th. Wall Street Zen lowered shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Wells Fargo & Company lowered their price target on shares of Crescent Capital BDC from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.38.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is a closed-end, externally managed business development company that provides flexible financing solutions to middle market companies in the United States. Trading on the Nasdaq under the ticker CCAP, the firm offers investors exposure to a diversified portfolio of debt and equity instruments, targeting businesses with attractive risk-adjusted return profiles. Its primary objective is to generate current income through interest payments and potential capital appreciation via selective equity co-investments.

The company’s investment strategy emphasizes senior secured loans, unsecured second-lien loans, mezzanine debt, as well as preferred and common equity co-investments.