Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $15.50.

Several equities research analysts recently commented on CCAP shares. Wall Street Zen upgraded shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. B. Riley Financial started coverage on shares of Crescent Capital BDC in a research report on Monday, March 30th. They issued a “neutral” rating and a $13.50 price objective on the stock. Wells Fargo & Company decreased their price objective on shares of Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, February 27th. Keefe, Bruyette & Woods decreased their price objective on shares of Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Finally, Zacks Research upgraded shares of Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th.

Crescent Capital BDC Stock Performance

NASDAQ:CCAP opened at $13.55 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.24. Crescent Capital BDC has a fifty-two week low of $11.80 and a fifty-two week high of $17.02. The stock has a market cap of $500.94 million, a PE ratio of 14.41 and a beta of 0.59. The firm’s fifty day simple moving average is $13.00 and its 200-day simple moving average is $13.82.

Crescent Capital BDC (NASDAQ:CCAP) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Crescent Capital BDC had a net margin of 20.64% and a return on equity of 9.32%. The business had revenue of $19.05 million for the quarter, compared to analysts’ expectations of $39.83 million. Analysts expect that Crescent Capital BDC will post 1.63 earnings per share for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a $0.42 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $1.68 annualized dividend and a dividend yield of 12.4%. Crescent Capital BDC’s payout ratio is currently 178.72%.

Institutional Investors Weigh In On Crescent Capital BDC

Several institutional investors and hedge funds have recently made changes to their positions in the business. North Ground Capital boosted its position in shares of Crescent Capital BDC by 99.8% in the 4th quarter. North Ground Capital now owns 835,312 shares of the company’s stock worth $11,736,000 after buying an additional 417,312 shares in the last quarter. Invesco Ltd. lifted its holdings in Crescent Capital BDC by 1,504.9% in the 4th quarter. Invesco Ltd. now owns 659,696 shares of the company’s stock valued at $9,269,000 after purchasing an additional 618,590 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Crescent Capital BDC by 7.0% in the 3rd quarter. Franklin Resources Inc. now owns 540,460 shares of the company’s stock valued at $7,707,000 after purchasing an additional 35,534 shares in the last quarter. Bulldog Investors LLP lifted its holdings in Crescent Capital BDC by 4.6% in the 4th quarter. Bulldog Investors LLP now owns 457,518 shares of the company’s stock valued at $6,428,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Mariner LLC lifted its holdings in Crescent Capital BDC by 0.3% in the 4th quarter. Mariner LLC now owns 451,774 shares of the company’s stock valued at $6,369,000 after purchasing an additional 1,492 shares in the last quarter. 49.46% of the stock is currently owned by hedge funds and other institutional investors.

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.