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 dividend on an annualized basis and a yield of 8.78%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Crescent Capital BDC’s previous quarterly dividend of $0.07.

Crescent Capital BDC has a dividend payout ratio of 82.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Stock Performance

Shares of Crescent Capital BDC stock opened at $19.13 on Friday. The stock has a market capitalization of $708.96 million, a price-to-earnings ratio of 7.50 and a beta of 0.81. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.40 and a quick ratio of 1.40. The business has a 50-day moving average of $18.40 and a 200 day moving average of $18.41. Crescent Capital BDC has a 12 month low of $15.91 and a 12 month high of $19.63.

Crescent Capital BDC (NASDAQ:CCAP) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.01. The business 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 47.06% and a return on equity of 12.20%. During the same quarter in the prior year, the company earned $0.56 earnings per share. As a group, sell-side analysts forecast that Crescent Capital BDC will post 2.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CCAP has been the subject of a number of analyst reports. LADENBURG THALM/SH SH initiated coverage on Crescent Capital BDC in a report on Monday, September 30th. They issued a “buy” rating and a $20.00 target price on the stock. Bank of America cut their target price on Crescent Capital BDC from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Wells Fargo & Company dropped their price target on shares of Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Crescent Capital BDC currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

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.