Crescent Capital BDC, Inc. (NASDAQ:CCAP) Raises Dividend to $0.42 Per Share

Crescent Capital BDC, Inc. (NASDAQ:CCAP) announced a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Stockholders 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 dividend yield of 8.82%. The ex-dividend date is Tuesday, December 31st. This is a boost from Crescent Capital BDC’s previous quarterly dividend of $0.07.

Crescent Capital BDC has a 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 tumble. 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 Up 1.4 %

CCAP traded up $0.26 on Thursday, hitting $19.04. The company had a trading volume of 22,630 shares, compared to its average volume of 132,087. The stock has a fifty day simple moving average of $18.40 and a 200-day simple moving average of $18.41. 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 firm has a market capitalization of $705.62 million, a P/E ratio of 7.36 and a beta of 0.81. Crescent Capital BDC has a 52-week low of $15.91 and a 52-week high of $19.63.

Crescent Capital BDC (NASDAQ:CCAP) last released its earnings results on Monday, August 12th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Crescent Capital BDC had a return on equity of 12.20% and a net margin of 47.06%. The company had revenue of $48.95 million during the quarter, compared to analysts’ expectations of $48.05 million. During the same quarter last year, the business posted $0.56 EPS. As a group, equities analysts expect that Crescent Capital BDC will post 2.35 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company decreased their price objective on 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 note on Monday, September 30th. They issued a “buy” rating and a $20.00 price target for the company. Finally, Bank of America dropped their price objective 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Crescent Capital BDC presently 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.