Crescent Capital BDC, Inc. (NASDAQ:CCAP) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have received an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $19.00.

CCAP has been the topic of a number of recent research reports. Wells Fargo & Company lowered 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, August 14th. Bank of America lowered their price target on Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, LADENBURG THALM/SH SH initiated coverage on Crescent Capital BDC in a research note on Monday, September 30th. They set a “buy” rating and a $20.00 price objective on the stock.

Crescent Capital BDC Price Performance

NASDAQ CCAP opened at $18.30 on Friday. The firm’s 50 day moving average is $18.43 and its 200-day moving average is $18.33. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $678.23 million, a PE ratio of 6.65 and a beta of 0.81. Crescent Capital BDC has a 12-month low of $15.44 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 (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. Crescent Capital BDC had a net margin of 51.61% and a return on equity of 12.03%. The firm had revenue of $48.95 million for the quarter, compared to analyst estimates of $48.05 million. During the same period in the previous year, the business earned $0.56 EPS. Equities research analysts anticipate that Crescent Capital BDC will post 2.35 earnings per share for the current fiscal year.

Crescent Capital BDC Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.42 dividend. This is a positive change from Crescent Capital BDC’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.68 annualized dividend and a yield of 9.18%. Crescent Capital BDC’s dividend payout ratio is currently 61.09%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new stake in Crescent Capital BDC in the 2nd quarter valued at $90,000. XTX Topco Ltd acquired a new position in shares of Crescent Capital BDC in the second quarter valued at $195,000. Alpine Global Management LLC acquired a new position in shares of Crescent Capital BDC in the first quarter valued at $217,000. Catalina Capital Group LLC bought a new position in shares of Crescent Capital BDC in the second quarter valued at about $220,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Crescent Capital BDC during the 1st quarter worth about $303,000. 49.46% of the stock is currently owned by institutional investors.

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.