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

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $16.1250.

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Wells Fargo & Company decreased their price target on shares of Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, February 27th. Finally, Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in shares of Crescent Capital BDC by 3.6% in the first quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock valued at $1,056,000 after acquiring an additional 2,128 shares during the period. Franklin Resources Inc. grew its stake in shares of Crescent Capital BDC by 16.8% in the second quarter. Franklin Resources Inc. now owns 504,926 shares of the company’s stock worth $7,119,000 after acquiring an additional 72,455 shares during the last quarter. XTX Topco Ltd bought a new position in Crescent Capital BDC during the second quarter worth $165,000. Virtus Investment Advisers LLC raised its stake in Crescent Capital BDC by 6.6% during the 2nd quarter. Virtus Investment Advisers LLC now owns 56,892 shares of the company’s stock valued at $802,000 after purchasing an additional 3,538 shares during the last quarter. Finally, Icon Advisers Inc. Co. raised its stake in Crescent Capital BDC by 20.2% during the 2nd quarter. Icon Advisers Inc. Co. now owns 69,973 shares of the company’s stock valued at $987,000 after purchasing an additional 11,753 shares during the last quarter. 49.46% of the stock is owned by institutional investors.

Crescent Capital BDC Stock Up 1.1%

Shares of Crescent Capital BDC stock opened at $12.82 on Monday. Crescent Capital BDC has a 12-month low of $12.56 and a 12-month high of $17.97. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.24. The stock has a 50 day moving average price of $13.91 and a two-hundred day moving average price of $14.33. The stock has a market capitalization of $473.31 million, a P/E ratio of 13.64 and a beta of 0.57.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.45 EPS for the quarter, beating 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 company had revenue of $19.05 million for the quarter, compared to analyst estimates of $39.83 million. Equities analysts expect that Crescent Capital BDC will post 2.09 earnings per share for the current year.

Crescent Capital BDC Announces Dividend

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 paid a dividend of $0.42 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.68 annualized dividend and a yield of 13.1%. Crescent Capital BDC’s dividend payout ratio is presently 178.72%.

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.