Crescent Capital BDC (NASDAQ:CCAP) Posts Earnings Results, Beats Expectations By $0.01 EPS

Crescent Capital BDC (NASDAQ:CCAP) issued its quarterly earnings data on Wednesday. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01, Zacks reports. The business had revenue of $40.80 million for the quarter, compared to the consensus estimate of $39.83 million. Crescent Capital BDC had a return on equity of 9.76% and a net margin of 20.84%.

Crescent Capital BDC Stock Up 3.0%

Crescent Capital BDC stock opened at $13.27 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.23. Crescent Capital BDC has a 1-year low of $12.70 and a 1-year high of $18.57. The company has a fifty day simple moving average of $14.26 and a 200 day simple moving average of $14.52. The company has a market cap of $490.86 million, a P/E ratio of 13.54 and a beta of 0.55.

Crescent Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.68 dividend on an annualized basis and a yield of 12.7%. Crescent Capital BDC’s dividend payout ratio (DPR) is 171.43%.

Hedge Funds Weigh In On Crescent Capital BDC

Hedge funds have recently modified their holdings of the stock. Ieq Capital LLC boosted its position in Crescent Capital BDC by 3.0% during the fourth quarter. Ieq Capital LLC now owns 25,470 shares of the company’s stock valued at $358,000 after purchasing an additional 746 shares during the last quarter. Mariner LLC raised its stake in shares of Crescent Capital BDC by 0.3% during the 4th quarter. Mariner LLC now owns 451,774 shares of the company’s stock worth $6,369,000 after purchasing 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 4th quarter valued at approximately $27,000. 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. Finally, Royal Bank of Canada increased its holdings in Crescent Capital BDC by 3.6% during 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 last quarter. Institutional investors own 49.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CCAP shares. Oppenheimer lowered their price target on Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating for the company in a report 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 research note on Friday, November 14th. Keefe, Bruyette & Woods cut their price target on shares of Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating on the stock in a research note on Friday, November 14th. Wall Street Zen raised shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Zacks Research upgraded shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Crescent Capital BDC presently has an average rating of “Moderate Buy” and an average target price of $16.38.

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.