Crescent Capital BDC, Inc. (NASDAQ:CCAP) Plans Quarterly Dividend of $0.42

Crescent Capital BDC, Inc. (NASDAQ:CCAP) announced a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.42 per share on Wednesday, January 15th. This represents a $1.68 annualized dividend and a yield of 8.82%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.07.

Crescent Capital BDC has a dividend payout ratio of 82.8% meaning 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 $1.99 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 84.4%.

Crescent Capital BDC Price Performance

Shares of CCAP stock traded up $0.26 during trading hours on Thursday, hitting $19.04. 22,630 shares of the company’s stock were exchanged, compared to its average volume of 132,087. The company has a market capitalization of $705.62 million, a PE ratio of 7.36 and a beta of 0.81. 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 has a 12-month low of $15.91 and a 12-month high of $19.63. The business’s 50 day simple moving average is $18.40 and its 200-day simple moving average is $18.41.

Crescent Capital BDC (NASDAQ:CCAP) last issued its earnings results on Monday, August 12th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. Crescent Capital BDC had a net margin of 47.06% and a return on equity of 12.20%. The company had revenue of $48.95 million for the quarter, compared to analysts’ expectations of $48.05 million. During the same quarter last year, the company earned $0.56 EPS. On average, equities research analysts anticipate that Crescent Capital BDC will post 2.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CCAP. LADENBURG THALM/SH SH assumed coverage on Crescent Capital BDC in a research note on Monday, September 30th. They issued a “buy” rating and a $20.00 target price for the company. Wells Fargo & Company lowered their price objective on 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. Finally, Bank of America cut 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 report on Thursday, August 15th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.00.

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.