Analysts Set Crescent Capital BDC, Inc. (NASDAQ:CCAP) Price Target at $16.38

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $16.3750.

CCAP has been the topic of several research reports. Oppenheimer dropped their target price on Crescent Capital BDC from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, November 14th. Wells Fargo & Company lowered their target price on Crescent Capital BDC from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Friday, November 14th. Wall Street Zen upgraded shares of Crescent Capital BDC from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Zacks Research cut shares of Crescent Capital BDC from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Finally, Keefe, Bruyette & Woods cut their target price on Crescent Capital BDC from $17.00 to $15.50 and set an “outperform” rating for the company in a research report on Friday, November 14th.

Institutional Trading of Crescent Capital BDC

Institutional investors and hedge funds have recently bought and sold shares of the business. Ares Management LLC raised its holdings in Crescent Capital BDC by 10.0% in the 2nd quarter. Ares Management LLC now owns 516,409 shares of the company’s stock valued at $7,281,000 after buying an additional 46,836 shares during the last quarter. North Ground Capital raised its position in shares of Crescent Capital BDC by 34.4% in the 3rd quarter. North Ground Capital now owns 418,000 shares of the company’s stock worth $5,961,000 after acquiring an additional 107,000 shares in the last quarter. Franklin Resources Inc. lifted its stake in Crescent Capital BDC by 16.8% in the second quarter. Franklin Resources Inc. now owns 504,926 shares of the company’s stock valued at $7,119,000 after buying an additional 72,455 shares during the period. FJ Capital Management LLC acquired a new stake in Crescent Capital BDC in the second quarter worth $531,000. Finally, Pettinga Financial Advisors LLC acquired a new stake in shares of Crescent Capital BDC in the 3rd quarter valued at about $852,000. Institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Price Performance

Shares of CCAP stock opened at $14.54 on Friday. The firm has a fifty day moving average of $14.47 and a two-hundred day moving average of $14.59. The firm has a market cap of $537.88 million, a P/E ratio of 14.84 and a beta of 0.54. Crescent Capital BDC has a 1-year low of $13.03 and a 1-year high of $20.19. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.20 and a quick ratio of 1.20.

Crescent Capital BDC (NASDAQ:CCAP) last issued its earnings results on Wednesday, November 12th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.01). Crescent Capital BDC had a return on equity of 9.76% and a net margin of 20.84%.The company had revenue of $41.35 million during the quarter, compared to analyst estimates of $42.35 million. As a group, research analysts anticipate that Crescent Capital BDC will post 2.09 earnings per share for the current fiscal year.

Crescent Capital BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 11.6%. The ex-dividend date was Wednesday, December 31st. Crescent Capital BDC’s payout ratio is 171.43%.

About Crescent Capital BDC

Crescent Capital BDC, Inc is a closed-end, externally managed business development company that provides flexible financing solutions to middle market companies in the United States. Trading on the Nasdaq under the ticker CCAP, the firm offers investors exposure to a diversified portfolio of debt and equity instruments, targeting businesses with attractive risk-adjusted return profiles. Its primary objective is to generate current income through interest payments and potential capital appreciation via selective equity co-investments.

The company’s investment strategy emphasizes senior secured loans, unsecured second-lien loans, mezzanine debt, as well as preferred and common equity co-investments.