Crescent Capital BDC, Inc. (CCAP) to Issue Quarterly Dividend of $0.09 on September 16th

Crescent Capital BDC, Inc. (NASDAQ:CCAP) announced a quarterly dividend on Tuesday, August 27th, Zacks reports. Stockholders of record on Saturday, August 31st will be given a dividend of 0.09 per share on Monday, September 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, August 30th.

Crescent Capital BDC has a dividend payout ratio of 80.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Crescent Capital BDC to earn $2.16 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 77.8%.

Crescent Capital BDC Price Performance

Crescent Capital BDC stock opened at $18.30 on Wednesday. The company has a market capitalization of $678.23 million, a PE ratio of 6.51 and a beta of 0.81. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.11. The stock has a 50-day moving average price of $18.67 and a two-hundred day moving average price of $17.84. Crescent Capital BDC has a 12 month low of $15.03 and a 12 month high of $19.63.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. The company had revenue of $48.95 million for the quarter, compared to analysts’ expectations of $48.05 million. Crescent Capital BDC had a net margin of 53.32% and a return on equity of 11.99%. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Analysts expect that Crescent Capital BDC will post 2.34 EPS for the current year.

Analysts Set New Price Targets

CCAP has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 14th. Raymond James lifted their price objective on Crescent Capital BDC from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Keefe, Bruyette & Woods upped their target price on Crescent Capital BDC from $18.50 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Finally, Bank of America lowered their target price on Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.80.

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.