Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives $16.38 Consensus PT from Brokerages

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $16.3750.

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

Crescent Capital BDC Stock Up 0.3%

Shares of CCAP opened at $14.39 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $532.29 million, a price-to-earnings ratio of 14.68 and a beta of 0.54. Crescent Capital BDC has a 1 year low of $13.03 and a 1 year high of $20.19. The business’s 50 day simple moving average is $14.52 and its 200-day simple moving average is $14.59.

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

Crescent Capital BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 11.7%. The ex-dividend date of this dividend was Wednesday, December 31st. Crescent Capital BDC’s payout ratio is presently 171.43%.

Institutional Investors Weigh In On Crescent Capital BDC

Several institutional investors have recently made changes to their positions in the company. Alpine Global Management LLC bought a new position in Crescent Capital BDC during the 3rd quarter valued at about $3,137,000. Two Sigma Investments LP grew its stake in shares of Crescent Capital BDC by 199.6% during the third quarter. Two Sigma Investments LP now owns 269,649 shares of the company’s stock valued at $3,845,000 after buying an additional 179,660 shares during the last quarter. Bulldog Investors LLP grew its stake 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 buying an additional 147,135 shares during the last quarter. North Ground Capital raised its holdings in shares of Crescent Capital BDC by 34.4% in the third quarter. North Ground Capital now owns 418,000 shares of the company’s stock worth $5,961,000 after buying an additional 107,000 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of Crescent Capital BDC during the 2nd quarter worth approximately $1,448,000. Institutional investors own 49.46% of the company’s stock.

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.