Crescent Capital BDC, Inc. (NASDAQ:CCAP) Stock Rated "Hold" by Sell-Side Analysts

Key Points

• Analysts broadly rate Crescent Capital BDC “Hold”: Six of seven analysts have hold ratings, one has a buy rating, and the average 12-month price target is $12.25. Wells Fargo and Bank of America recently lowered their targets.
• Shares opened at $8.70, near the company’s 12-month low of $8.40 and well below its 12-month high of $15.18. The company’s latest quarterly earnings of $0.36 per share fell short of the $0.37 consensus estimate.
• Crescent Capital BDC maintains a sizable dividend: Its quarterly payout of $0.34 per share equates to an annualized dividend of $1.36 and a 15.6% yield. Insiders sold 451,543 shares during the latest quarter.

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) have been given a consensus recommendation of "Hold" by the seven research firms that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $12.25.

CCAP has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Crescent Capital BDC from $12.00 to $11.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 12th. Bank of America restated a "neutral" rating and set a $10.25 target price (down from $13.00) on shares of Crescent Capital BDC in a research note on Thursday, September 10th. Wall Street Zen raised shares of Crescent Capital BDC from a "sell" rating to a "hold" rating in a report on Saturday, October 10th. Zacks Research raised shares of Crescent Capital BDC from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 21st. Finally, LADENBURG THALM/SH SH decreased their price target on shares of Crescent Capital BDC from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th.

Crescent Capital BDC Stock Performance

NASDAQ CCAP opened at $8.70 on Tuesday. The stock has a market cap of $320.60 million, a PE ratio of -96.67 and a beta of 0.57. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.41. Crescent Capital BDC has a twelve month low of $8.40 and a twelve month high of $15.18. The stock has a fifty day simple moving average of $9.78 and a 200-day simple moving average of $11.84.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). The company had revenue of $5.12 million for the quarter, compared to analysts' expectations of $37.12 million. Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%. Equities analysts anticipate that Crescent Capital BDC will post 1.49 earnings per share for the current year.

Crescent Capital BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.36 dividend on an annualized basis and a yield of 15.6%. Crescent Capital BDC's dividend payout ratio (DPR) is presently -1,511.11%.

Insider Buying and Selling

In related news, major shareholder & Guaranty Life Insur Fidelity sold 139,054 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $10.23, for a total transaction of $1,422,522.42. Following the completion of the sale, the insider owned 3,680,307 shares in the company, valued at $37,649,540.61. This represents a 3.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 451,543 shares of company stock worth $4,689,738. 1.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crescent Capital BDC

A number of large investors have recently bought and sold shares of CCAP. Rockefeller Capital Management L.P. acquired a new position in Crescent Capital BDC during the fourth quarter worth $35,000. Integrated Wealth Concepts LLC purchased a new position in Crescent Capital BDC in the second quarter worth $60,000. Beacon Pointe Advisors LLC purchased a new position in Crescent Capital BDC in the second quarter worth $111,000. Engineers Gate Manager LP acquired a new stake in Crescent Capital BDC in the second quarter valued at $114,000. Finally, Beaumont Financial Advisors LLC acquired a new stake in Crescent Capital BDC in the first quarter valued at $127,000. Hedge funds and other institutional investors own 49.46% of the company's stock.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is a business development company that provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and equity securities.

Its investment portfolio is focused primarily on senior secured loans, including first-lien and second-lien loans, as well as other debt investments and selected equity interests. Crescent Capital BDC generally works with established companies across a range of industries, providing capital for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.

The company is externally managed by Crescent Cap Advisors LLC, an affiliate of Crescent Capital Group LP, an investment firm specializing in credit and alternative investments.

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