Crescent Capital BDC (NASDAQ:CCAP) Announces Quarterly Earnings Results, Hits Estimates

Key Points

• Crescent Capital BDC reported quarterly earnings of $0.46 per share, meeting analysts' expectations.
• The company announced a $0.05 dividend for shareholders, with a dividend payout ratio of 125.37%.
• Analysts have rated the stock a consensus of "Moderate Buy", with an average target price of $17.60.

Crescent Capital BDC (NASDAQ:CCAP - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46, Zacks reports. Crescent Capital BDC had a return on equity of 11.10% and a net margin of 26.20%.

Crescent Capital BDC Stock Up 1.0%

CCAP traded up $0.15 on Wednesday, hitting $14.75. The company had a trading volume of 164,651 shares, compared to its average volume of 215,949. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.09 and a quick ratio of 1.09. Crescent Capital BDC has a 52-week low of $13.54 and a 52-week high of $20.19. The stock has a fifty day simple moving average of $14.47 and a 200-day simple moving average of $16.12. The firm has a market capitalization of $546.64 million, a P/E ratio of 11.01 and a beta of 0.55.

Crescent Capital BDC Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.05 dividend. The ex-dividend date is Friday, August 29th. Crescent Capital BDC's dividend payout ratio (DPR) is 125.37%.

Institutional Trading of Crescent Capital BDC

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in Crescent Capital BDC in the second quarter worth about $165,000. Quantbot Technologies LP purchased a new stake in Crescent Capital BDC in the second quarter worth about $219,000. Jump Financial LLC purchased a new stake in Crescent Capital BDC in the second quarter worth about $286,000. Invesco Ltd. lifted its holdings in Crescent Capital BDC by 31.4% in the second quarter. Invesco Ltd. now owns 38,377 shares of the company's stock worth $541,000 after buying an additional 9,180 shares during the period. Finally, Royal Bank of Canada lifted its holdings in Crescent Capital BDC by 3.6% in the first quarter. Royal Bank of Canada now owns 61,707 shares of the company's stock worth $1,056,000 after buying an additional 2,128 shares during the period. 49.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods upgraded Crescent Capital BDC from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, July 22nd. Raymond James Financial dropped their price objective on Crescent Capital BDC from $20.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Wall Street Zen upgraded Crescent Capital BDC from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Wells Fargo & Company dropped their target price on Crescent Capital BDC from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $17.60.

About Crescent Capital BDC

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.

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