Crescent Capital BDC, Inc. (NASDAQ:CCAP) Plans Quarterly Dividend of $0.34

Crescent Capital BDC, Inc. (NASDAQ:CCAP) announced a quarterly dividend on Monday, November 9th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.34 per share on Friday, January 15th. This represents a $1.36 annualized dividend and a yield of 14.7%. The ex-dividend date of this dividend is Thursday, December 31st.

Crescent Capital BDC has a dividend payout ratio of 79.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Crescent Capital BDC to earn $1.42 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 95.8%.

Crescent Capital BDC Trading Down 1.5%

CCAP opened at $9.24 on Tuesday. The stock has a market cap of $340.49 million, a PE ratio of -102.67 and a beta of 0.56. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.41. The business has a 50 day moving average of $9.45 and a 200-day moving average of $11.56. Crescent Capital BDC has a 52 week low of $8.40 and a 52 week high of $15.18.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The company had revenue of $36.89 million for the quarter, compared to analysts’ expectations of $36.37 million. Crescent Capital BDC had a positive return on equity of 9.02% and a negative net margin of 2.02%. Equities research analysts predict that Crescent Capital BDC will post 1.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CCAP. Keefe, Bruyette & Woods cut shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $13.00 to $12.00 in a report on Monday, August 17th. Raymond James Financial set a $10.00 price target on Crescent Capital BDC in a research report on Thursday, October 22nd. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. B. Riley Financial decreased their target price on shares of Crescent Capital BDC from $13.50 to $12.50 and set a “neutral” rating for the company in a report on Wednesday, August 12th. Finally, Wells Fargo & Company dropped their price target on shares of Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Crescent Capital BDC presently has a consensus rating of “Hold” and a consensus target price of $12.25.

Crescent Capital BDC Company Profile

Crescent Capital BDC, Inc is a business development company that provides financing to middle-market companies. The company seeks to generate current income and, to a lesser extent, capital appreciation by investing in privately negotiated debt and equity securities.

Its investment portfolio is focused primarily on senior secured loans, including first-lien and second-lien loans, as well as other debt investments and selected equity interests. Crescent Capital BDC generally works with established companies across a range of industries, providing capital for acquisitions, recapitalizations, refinancing, growth initiatives and other corporate purposes.

The company is externally managed by Crescent Cap Advisors LLC, an affiliate of Crescent Capital Group LP, an investment firm specializing in credit and alternative investments.