Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analyst consensus: Seven brokers assign Crescent Capital BDC a "Moderate Buy" (3 holds, 3 buys, 1 strong buy) with an average 12‑month price target of $15.60 versus the recent open of $12.33.
• High dividend yield but stretched payout: The company declared a $0.42 quarterly dividend (annualized $1.68) implying a 13.6% yield, while the dividend payout ratio is 178.7%, indicating potential sustainability concerns.
• Mixed quarterly results: Crescent reported $0.45 EPS (beating by $0.01) but revenue missed significantly ($19.05M vs. $39.83M expected); analysts forecast $2.09 EPS for the year and institutional investors hold about 49.5% of the stock.

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $15.60.

Several equities research analysts have commented on the company. Wall Street Zen upgraded Crescent Capital BDC from a "sell" rating to a "hold" rating in a research note on Saturday, January 10th. Wells Fargo & Company dropped their price target on Crescent Capital BDC from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Friday, February 27th. Zacks Research upgraded Crescent Capital BDC from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 10th. Finally, B. Riley Financial assumed coverage on Crescent Capital BDC in a research note on Monday, March 30th. They set a "neutral" rating and a $13.50 price target for the company.

Institutional Investors Weigh In On Crescent Capital BDC

A number of large investors have recently modified their holdings of the stock. Cobblestone Capital Advisors LLC NY grew its stake in shares of Crescent Capital BDC by 1.3% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 58,783 shares of the company's stock valued at $838,000 after buying an additional 741 shares in the last quarter. Ieq Capital LLC grew its stake in shares of Crescent Capital BDC by 3.0% in the fourth quarter. Ieq Capital LLC now owns 25,470 shares of the company's stock valued at $358,000 after buying an additional 746 shares in the last quarter. Mariner LLC grew its stake in shares of Crescent Capital BDC by 0.3% in the fourth quarter. Mariner LLC now owns 451,774 shares of the company's stock valued at $6,369,000 after buying an additional 1,492 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Crescent Capital BDC in the fourth quarter valued at about $27,000. Finally, NewEdge Advisors LLC grew its stake in shares of Crescent Capital BDC by 20.2% in the fourth quarter. NewEdge Advisors LLC now owns 12,279 shares of the company's stock valued at $173,000 after buying an additional 2,066 shares in the last quarter. Institutional investors and hedge funds own 49.46% of the company's stock.

Crescent Capital BDC Stock Performance

Shares of NASDAQ:CCAP opened at $12.33 on Friday. The firm has a market capitalization of $455.84 million, a PE ratio of 13.12 and a beta of 0.55. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 1.22. The business has a 50-day moving average of $13.21 and a two-hundred day moving average of $13.94. Crescent Capital BDC has a 12 month low of $11.80 and a 12 month high of $17.02.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $19.05 million during the quarter, compared to analyst estimates of $39.83 million. Crescent Capital BDC had a return on equity of 9.32% and a net margin of 20.64%. As a group, research analysts forecast that Crescent Capital BDC will post 2.09 earnings per share for the current year.

Crescent Capital BDC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.42 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.68 annualized dividend and a yield of 13.6%. Crescent Capital BDC's dividend payout ratio is currently 178.72%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.