Crescent Capital BDC, Inc. (NASDAQ:CCAP) Increases Dividend to $0.42 Per Share

Crescent Capital BDC, Inc. (NASDAQ:CCAP) announced a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.42 per share on Wednesday, January 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.95%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Crescent Capital BDC’s previous quarterly dividend of $0.07.

Crescent Capital BDC has a payout ratio of 82.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Crescent Capital BDC to earn $1.99 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 84.4%.

Crescent Capital BDC Trading Down 0.2 %

Shares of CCAP stock traded down $0.03 during trading hours on Wednesday, hitting $18.78. The company had a trading volume of 139,236 shares, compared to its average volume of 132,574. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $695.99 million, a PE ratio of 7.37 and a beta of 0.81. The company’s fifty day moving average is $18.39 and its 200 day moving average is $18.40. Crescent Capital BDC has a fifty-two week low of $15.91 and a fifty-two week high of $19.63.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings results on Monday, August 12th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. Crescent Capital BDC had a return on equity of 12.20% and a net margin of 47.06%. The company had revenue of $48.95 million for the quarter, compared to analysts’ expectations of $48.05 million. During the same period in the prior year, the firm earned $0.56 earnings per share. Research analysts expect that Crescent Capital BDC will post 2.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CCAP has been the topic of several research reports. LADENBURG THALM/SH SH initiated coverage on Crescent Capital BDC in a research note on Monday, September 30th. They set a “buy” rating and a $20.00 target price on the stock. Wells Fargo & Company reduced their price target on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 14th. Finally, Bank of America cut their target price on shares of Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.00.

About Crescent Capital BDC

Crescent Capital BDC, Inc is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.