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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) announced a quarterly dividend on Tuesday, June 25th, Wall Street Journal reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.42 per share on Monday, July 15th. This represents a $1.68 annualized dividend and a dividend yield of 8.83%. The ex-dividend date is Friday, June 28th. This is a positive change from Crescent Capital BDC’s previous quarterly dividend of $0.41.

Crescent Capital BDC has a payout ratio of 78.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 Stock Down 0.1 %

CCAP stock opened at $19.02 on Wednesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a market capitalization of $704.88 million, a PE ratio of 6.77 and a beta of 0.81. The company’s 50 day simple moving average is $18.00 and its 200-day simple moving average is $17.31. Crescent Capital BDC has a 12 month low of $14.43 and a 12 month high of $19.16.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $50.36 million for the quarter, compared to the consensus estimate of $48.31 million. Crescent Capital BDC had a net margin of 53.32% and a return on equity of 11.99%. Equities analysts expect that Crescent Capital BDC will post 2.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CCAP has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Crescent Capital BDC from $18.50 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, May 23rd. Raymond James increased their price target on shares of Crescent Capital BDC from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Finally, Wells Fargo & Company increased their price target on shares of Crescent Capital BDC from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, May 13th.

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.