Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives $16.38 Average PT from Analysts

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $16.3750.

CCAP has been the topic of a number of research reports. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Wall Street Zen raised shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Wells Fargo & Company cut their price target on shares of Crescent Capital BDC from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, November 14th. Keefe, Bruyette & Woods decreased their price objective on shares of Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating for the company in a report on Friday, November 14th. Finally, Oppenheimer lowered their target price on shares of Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, November 14th.

Crescent Capital BDC Price Performance

CCAP opened at $13.27 on Thursday. The stock has a fifty day moving average price of $14.26 and a 200 day moving average price of $14.52. 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 $12.70 and a 1 year high of $18.57. The stock has a market cap of $490.86 million, a price-to-earnings ratio of 13.54 and a beta of 0.55.

Crescent Capital BDC (NASDAQ:CCAP) last issued its earnings results on Wednesday, February 25th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. Crescent Capital BDC had a return on equity of 9.76% and a net margin of 20.84%.The company had revenue of $40.80 million for the quarter, compared to analyst estimates of $39.83 million. Analysts forecast that Crescent Capital BDC will post 2.09 EPS for the current fiscal year.

Crescent Capital BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 12.7%. Crescent Capital BDC’s dividend payout ratio is currently 171.43%.

Institutional Investors Weigh In On Crescent Capital BDC

A number of large investors have recently added to or reduced their stakes in the stock. North Ground Capital raised its position in shares of Crescent Capital BDC by 99.8% in the fourth quarter. North Ground Capital now owns 835,312 shares of the company’s stock valued at $11,736,000 after purchasing an additional 417,312 shares during the period. Invesco Ltd. grew its stake in Crescent Capital BDC by 1,504.9% in the 4th quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock valued at $9,269,000 after buying an additional 618,590 shares during the last quarter. Franklin Resources Inc. grew its stake in Crescent Capital BDC by 7.0% in the 3rd quarter. Franklin Resources Inc. now owns 540,460 shares of the company’s stock valued at $7,707,000 after buying an additional 35,534 shares during the last quarter. Ares Management LLC raised its holdings in Crescent Capital BDC by 10.0% in the 2nd quarter. Ares Management LLC now owns 516,409 shares of the company’s stock worth $7,281,000 after acquiring an additional 46,836 shares during the period. Finally, Bulldog Investors LLP lifted its position in Crescent Capital BDC by 4.6% during the 4th quarter. Bulldog Investors LLP now owns 457,518 shares of the company’s stock worth $6,428,000 after acquiring an additional 20,000 shares during the last quarter. Institutional investors own 49.46% of the company’s stock.

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.