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

Key Points

• Analysts give Crescent Capital BDC a consensus rating of Moderate Buy from seven firms (3 hold, 3 buy, 1 strong buy) with an average 1‑year price target of $15.50.
• The company pays a quarterly dividend of $0.42 (annualized $1.68), which implies a 12.1% dividend yield and a payout ratio of 178.72%.
• In the most recent quarter CCAP reported EPS of $0.45 (beating estimates by $0.01) but revenue of $19.05 million versus analyst estimates of $39.83 million, and analysts forecast about $1.63 EPS for the current year.

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP - Get Free Report) have been given an average rating of "Moderate Buy" by the seven ratings firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $15.50.

Several brokerages have issued reports on CCAP. Wall Street Zen raised Crescent Capital BDC from a "sell" rating to a "hold" rating in a research note on Saturday, January 10th. Wells Fargo & Company reduced their price objective on shares of Crescent Capital BDC from $14.00 to $13.00 and set an "equal weight" rating for the company in a research report on Friday, February 27th. B. Riley Financial initiated coverage on shares of Crescent Capital BDC in a research note on Monday, March 30th. They issued a "neutral" rating and a $13.50 price objective for the company. Zacks Research raised shares of Crescent Capital BDC from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 10th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Crescent Capital BDC from $15.50 to $15.00 and set an "outperform" rating for the company in a report on Thursday, April 16th.

Institutional Trading of Crescent Capital BDC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCAP. Alpine Global Management LLC bought a new position in Crescent Capital BDC in the third quarter worth approximately $3,137,000. Bulldog Investors LLP increased its holdings in shares of Crescent Capital BDC by 50.7% during the third quarter. Bulldog Investors LLP now owns 437,518 shares of the company's stock valued at $6,239,000 after acquiring an additional 147,135 shares in the last quarter. ICG Advisors LLC bought a new stake in shares of Crescent Capital BDC during the fourth quarter valued at approximately $1,284,000. North Ground Capital raised its position in shares of Crescent Capital BDC by 34.4% during the third quarter. North Ground Capital now owns 418,000 shares of the company's stock worth $5,961,000 after purchasing an additional 107,000 shares during the period. Finally, Riverbridge Partners LLC acquired a new position in shares of Crescent Capital BDC during the fourth quarter worth approximately $1,326,000. 49.46% of the stock is owned by institutional investors.

Crescent Capital BDC Stock Performance

CCAP stock opened at $13.90 on Tuesday. The firm has a market cap of $513.88 million, a PE ratio of 14.79 and a beta of 0.59. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average price of $12.95 and a 200-day moving average price of $13.82. Crescent Capital BDC has a 1-year low of $11.80 and a 1-year high of $17.02.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. Crescent Capital BDC had a return on equity of 9.32% and a net margin of 20.64%.The company had revenue of $19.05 million for the quarter, compared to analyst estimates of $39.83 million. As a group, equities research analysts expect that Crescent Capital BDC will post 1.63 earnings per share for the current year.

Crescent Capital BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date of this dividend was Tuesday, March 31st. Crescent Capital BDC's dividend payout ratio is 178.72%.

About Crescent Capital BDC

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.

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