Crescent Capital BDC, Inc. (NASDAQ:CCAP) Announces Dividend Increase – $0.42 Per Share

Crescent Capital BDC, Inc. (NASDAQ:CCAP) declared a quarterly dividend on Saturday, September 28th, Wall Street Journal reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.42 per share on Tuesday, October 15th. This represents a $1.68 dividend on an annualized basis and a yield of 8.92%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.09.

Crescent Capital BDC has a payout ratio of 81.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Crescent Capital BDC to earn $2.02 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 83.2%.

Crescent Capital BDC Price Performance

CCAP stock opened at $18.84 on Friday. The firm has a 50 day moving average of $18.38 and a 200-day moving average of $18.15. The firm has a market capitalization of $698.25 million, a P/E ratio of 6.70 and a beta of 0.81. Crescent Capital BDC has a 12 month low of $15.03 and a 12 month high of $19.63. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.17.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. Crescent Capital BDC had a return on equity of 12.03% and a net margin of 51.61%. The company had revenue of $48.95 million for the quarter, compared to the consensus estimate of $48.05 million. During the same quarter last year, the business posted $0.56 earnings per share. As a group, sell-side analysts predict that Crescent Capital BDC will post 2.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Bank of America reduced their target price on 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. Wells Fargo & Company reduced their price objective on 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Crescent Capital BDC currently has a consensus 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.