Crescent Capital BDC, Inc. (NASDAQ:CCAP) Receives $18.80 Average Price Target from Brokerages

Shares of Crescent Capital BDC, Inc. (NASDAQ:CCAP) have been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $19.00.

Several brokerages recently issued reports on CCAP. Wells Fargo & Company reduced their target price on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, August 14th. LADENBURG THALM/SH SH started coverage on shares of Crescent Capital BDC in a research report on Monday, September 30th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Bank of America reduced 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.

Crescent Capital BDC Price Performance

NASDAQ CCAP opened at $18.30 on Monday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.40 and a current ratio of 1.40. The firm’s 50 day moving average price is $18.34 and its 200-day moving average price is $18.18. Crescent Capital BDC has a 52-week low of $15.03 and a 52-week high of $19.63. The company has a market cap of $678.23 million, a PE ratio of 6.51 and a beta of 0.81.

Crescent Capital BDC (NASDAQ:CCAP) last announced its earnings results on Monday, August 12th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The company had revenue of $48.95 million during the quarter, compared to the consensus estimate of $48.05 million. Crescent Capital BDC had a net margin of 51.61% and a return on equity of 12.03%. During the same period last year, the firm earned $0.56 earnings per share. Sell-side analysts forecast that Crescent Capital BDC will post 2.34 EPS for the current fiscal year.

Crescent Capital BDC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.18%. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, September 30th. Crescent Capital BDC’s payout ratio is 59.79%.

Institutional Investors Weigh In On Crescent Capital BDC

Several large investors have recently added to or reduced their stakes in CCAP. Evoke Wealth LLC grew its holdings in Crescent Capital BDC by 83.5% during the 4th quarter. Evoke Wealth LLC now owns 27,754 shares of the company’s stock worth $494,000 after acquiring an additional 12,626 shares in the last quarter. Quadrature Capital Ltd raised its position in Crescent Capital BDC by 32.6% in the 4th quarter. Quadrature Capital Ltd now owns 81,156 shares of the company’s stock valued at $1,410,000 after purchasing an additional 19,936 shares during the last quarter. Muzinich & Co. Inc. purchased a new position in shares of Crescent Capital BDC in the 4th quarter valued at about $843,000. Mmbg Investment Advisors CO. purchased a new position in shares of Crescent Capital BDC in the 4th quarter valued at about $612,000. Finally, Tucker Asset Management LLC purchased a new position in shares of Crescent Capital BDC in the 4th quarter valued at about $167,000. 49.46% of the stock is owned by hedge funds and other institutional investors.

Crescent Capital BDC Company Profile

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.