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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $16.3750.

Several equities research analysts have recently weighed in on the stock. Zacks Research cut shares of Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Oppenheimer reduced their price objective on shares of Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Friday, November 14th. Wells Fargo & Company lowered their target price on Crescent Capital BDC from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Friday, November 14th. Wall Street Zen upgraded Crescent Capital BDC from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Keefe, Bruyette & Woods decreased their price objective on Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating for the company in a research note on Friday, November 14th.

Crescent Capital BDC Stock Performance

Shares of Crescent Capital BDC stock opened at $14.35 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.23. The stock’s fifty day moving average price is $14.51 and its 200-day moving average price is $14.59. The firm has a market cap of $530.81 million, a P/E ratio of 14.64 and a beta of 0.54. Crescent Capital BDC has a 12 month low of $13.03 and a 12 month high of $20.19.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings data on Wednesday, November 12th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The business had revenue of $41.35 million during the quarter, compared to analysts’ expectations of $42.35 million. Crescent Capital BDC had a return on equity of 9.76% and a net margin of 20.84%. On average, equities research analysts expect that Crescent Capital BDC will post 2.09 earnings per share for the current fiscal year.

Crescent Capital BDC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 11.7%. The ex-dividend date was Wednesday, December 31st. Crescent Capital BDC’s dividend payout ratio (DPR) is currently 171.43%.

Institutional Investors Weigh In On Crescent Capital BDC

A number of hedge funds and other institutional investors have recently bought and sold shares of CCAP. Royal Bank of Canada grew 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 purchasing an additional 2,128 shares during the last quarter. Catalina Capital Group LLC acquired a new stake in shares of Crescent Capital BDC in the 2nd quarter worth $174,000. Apollon Wealth Management LLC boosted its position in shares of Crescent Capital BDC by 57.2% in the 2nd quarter. Apollon Wealth Management LLC now owns 36,479 shares of the company’s stock worth $514,000 after purchasing an additional 13,267 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in Crescent Capital BDC during the 2nd quarter worth $69,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Crescent Capital BDC by 36.7% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 110,423 shares of the company’s stock valued at $1,557,000 after buying an additional 29,657 shares in the last quarter. 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 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.