Crescent Capital BDC (NASDAQ:CCAP) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Crescent Capital BDC (NASDAQ:CCAP – Free Report) from a sell rating to a hold rating in a research note published on Friday morning.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company reduced their price target on shares of Crescent Capital BDC from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, May 16th. Raymond James Financial reduced their price target on shares of Crescent Capital BDC from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. Finally, Keefe, Bruyette & Woods cut shares of Crescent Capital BDC from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $18.50 to $17.00 in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Crescent Capital BDC currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.60.

Read Our Latest Stock Analysis on CCAP

Crescent Capital BDC Stock Down 0.5%

Shares of CCAP stock opened at $14.48 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.24. Crescent Capital BDC has a fifty-two week low of $13.54 and a fifty-two week high of $20.19. The firm’s 50 day moving average price is $15.33 and its two-hundred day moving average price is $17.21.

Crescent Capital BDC (NASDAQ:CCAP – Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The business had revenue of $42.13 million for the quarter, compared to analyst estimates of $45.08 million. Crescent Capital BDC had a net margin of 26.20% and a return on equity of 11.10%. Research 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 11.60%. Crescent Capital BDC’s dividend payout ratio is currently 125.37%.

Institutional Trading of Crescent Capital BDC

A number of hedge funds have recently made changes to their positions in the company. SCS Capital Management LLC purchased a new stake in shares of Crescent Capital BDC during the first quarter valued at approximately $493,000. Almitas Capital LLC bought a new stake in shares of Crescent Capital BDC in the first quarter worth $414,000. Royal Bank of Canada increased its stake 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 worth $1,056,000 after buying an additional 2,128 shares during the last quarter. Ieq Capital LLC increased its stake in shares of Crescent Capital BDC by 3.5% in the first quarter. Ieq Capital LLC now owns 23,518 shares of the company’s stock worth $403,000 after buying an additional 793 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Crescent Capital BDC by 39.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 63,893 shares of the company’s stock worth $1,094,000 after buying an additional 18,078 shares during the last quarter. Hedge funds and other institutional investors own 49.46% of the company’s stock.

About Crescent Capital BDC

(Get Free Report)

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.

Featured Articles