Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives Average Recommendation of “Moderate Buy” from Brokerages
by Mitch Edgeman · The Markets DailyCrescent Capital BDC, Inc. (NASDAQ:CCAP – Get Free Report) has received an average recommendation of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat reports. Three equities research 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 target price among analysts that have issued a report on the stock in the last year is $15.60.
A number of equities analysts have recently weighed in on the company. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Wall Street Zen upgraded Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. B. Riley Financial assumed coverage on Crescent Capital BDC in a research note on Monday, March 30th. They issued a “neutral” rating and a $13.50 target price on the stock. Finally, Wells Fargo & Company cut their target price on Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th.
Check Out Our Latest Research Report on CCAP
Crescent Capital BDC Price Performance
Shares of NASDAQ:CCAP opened at $13.05 on Friday. Crescent Capital BDC has a 1-year low of $11.80 and a 1-year high of $17.02. The stock’s fifty day simple moving average is $13.11 and its two-hundred day simple moving average is $13.87. The stock has a market cap of $482.46 million, a PE ratio of 13.88 and a beta of 0.55. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.24.
Crescent Capital BDC (NASDAQ:CCAP – Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Crescent Capital BDC had a return on equity of 9.32% and a net margin of 20.64%.The firm had revenue of $19.05 million for the quarter, compared to the consensus estimate of $39.83 million. As a group, analysts forecast that Crescent Capital BDC will post 2.09 EPS for the current fiscal year.
Crescent Capital BDC Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 12.9%. The ex-dividend date is Tuesday, March 31st. Crescent Capital BDC’s payout ratio is presently 178.72%.
Institutional Investors Weigh In On Crescent Capital BDC
A number of hedge funds have recently modified their holdings of CCAP. Royal Bank of Canada raised its holdings in shares of Crescent Capital BDC by 3.6% in the 1st quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock worth $1,056,000 after purchasing an additional 2,128 shares during the period. XTX Topco Ltd bought a new stake in shares of Crescent Capital BDC in the 2nd quarter worth approximately $165,000. Quantbot Technologies LP bought a new stake in shares of Crescent Capital BDC in the 2nd quarter worth approximately $219,000. Invesco Ltd. raised its holdings in shares of Crescent Capital BDC by 31.4% in the 2nd quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock worth $541,000 after purchasing an additional 9,180 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of Crescent Capital BDC in the 2nd quarter worth approximately $286,000. Institutional investors own 49.46% of the company’s stock.
Crescent Capital BDC Company Profile
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.