Crescent Capital BDC, Inc. (CCAP) to Issue Quarterly Dividend of $0.34 on January 15th

Crescent Capital BDC, Inc. (NASDAQ:CCAP) declared a quarterly dividend on Monday, November 9th. Investors 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 13.1%. The ex-dividend date 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 Stock Up 12.3%

Shares of NASDAQ CCAP opened at $10.38 on Wednesday. Crescent Capital BDC has a 1 year low of $8.40 and a 1 year high of $15.18. The company has a market capitalization of $382.50 million, a price-to-earnings ratio of -1,038.00 and a beta of 0.56. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.30 and a quick ratio of 1.30. The business has a 50-day moving average of $9.44 and a two-hundred day moving average of $11.53.

Crescent Capital BDC (NASDAQ:CCAP) last posted its 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 firm had revenue of $36.89 million during the quarter, compared to analysts’ expectations of $36.37 million. Crescent Capital BDC had a positive return on equity of 8.66% and a negative net margin of 0.10%. On average, analysts forecast that Crescent Capital BDC will post 1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CCAP shares. Wells Fargo & Company dropped their target price on shares of Crescent Capital BDC from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 12th. Bank of America downgraded shares of Crescent Capital BDC from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $13.00 to $10.25 in a research note on Thursday, September 10th. LADENBURG THALM/SH SH dropped their price objective on Crescent Capital BDC from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, Raymond James Financial set a $10.00 price target on Crescent Capital BDC in a research report on Thursday, October 22nd. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Crescent Capital BDC currently has a consensus rating of “Hold” and a consensus target price of $12.25.

About Crescent Capital BDC

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.