Crescent Capital BDC, Inc. (NASDAQ:CCAP) Increases Dividend to $0.42 Per Share

Crescent Capital BDC, Inc. (NASDAQ:CCAP) declared a quarterly dividend on Wednesday, August 14th, Wall Street Journal reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.42 per share on Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.43%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.09.

Crescent Capital BDC has a payout ratio of 77.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Crescent Capital BDC to earn $2.16 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 77.8%.

Crescent Capital BDC Price Performance

NASDAQ CCAP opened at $17.82 on Thursday. The firm’s fifty day simple moving average is $18.74 and its two-hundred day simple moving average is $17.73. The firm has a market capitalization of $660.44 million, a P/E ratio of 6.34 and a beta of 0.81. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.11. Crescent Capital BDC has a 12-month low of $15.03 and a 12-month high of $19.63.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. Crescent Capital BDC had a return on equity of 11.99% and a net margin of 53.32%. The business had revenue of $48.95 million during the quarter, compared to the consensus estimate of $48.05 million. During the same quarter last year, the company earned $0.56 earnings per share. Analysts forecast that Crescent Capital BDC will post 2.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Crescent Capital BDC from $18.50 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. Wells Fargo & Company cut their target price on Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Raymond James raised their target price on Crescent Capital BDC from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.