Analysts Set Crescent Capital BDC, Inc. (NASDAQ:CCAP) Price Target at $16.38

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has earned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $16.3750.

Several equities analysts recently weighed in on the stock. Wall Street Zen cut shares of Crescent Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Keefe, Bruyette & Woods dropped their target price on Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating on the stock in a report on Friday, November 14th. Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Oppenheimer decreased 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. Finally, Wells Fargo & Company dropped their price objective on Crescent Capital BDC from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Friday, November 14th.

Crescent Capital BDC Stock Performance

NASDAQ CCAP opened at $14.28 on Wednesday. The company has a market cap of $528.22 million, a P/E ratio of 14.57 and a beta of 0.54. The company has a fifty day simple moving average of $14.32 and a 200 day simple moving average of $14.57. 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 12-month low of $13.03 and a 12-month high of $20.19.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings data on Wednesday, November 12th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The business had revenue of $41.35 million during the quarter, compared to the consensus estimate of $42.35 million. Crescent Capital BDC had a net margin of 20.84% and a return on equity of 9.76%. Sell-side analysts predict that Crescent Capital BDC will post 2.09 earnings per share for the current fiscal year.

Crescent Capital BDC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 11.8%. The ex-dividend date of this dividend is Wednesday, December 31st. Crescent Capital BDC’s dividend payout ratio (DPR) is presently 171.43%.

Institutional Investors Weigh In On Crescent Capital BDC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ares Management LLC grew its holdings in shares of Crescent Capital BDC by 10.0% in the second quarter. Ares Management LLC now owns 516,409 shares of the company’s stock valued at $7,281,000 after acquiring an additional 46,836 shares in the last quarter. Invesco Ltd. boosted its position in Crescent Capital BDC by 59.7% in the first quarter. Invesco Ltd. now owns 29,197 shares of the company’s stock worth $500,000 after purchasing an additional 10,911 shares during the last quarter. Franklin Resources Inc. grew its stake in Crescent Capital BDC by 16.8% in the 2nd quarter. Franklin Resources Inc. now owns 504,926 shares of the company’s stock valued at $7,119,000 after purchasing an additional 72,455 shares during the period. FJ Capital Management LLC purchased a new stake in shares of Crescent Capital BDC during the 2nd quarter valued at $531,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Crescent Capital BDC during the 2nd quarter valued at $69,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

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.