Brokerages Set Crescent Capital BDC, Inc. (NASDAQ:CCAP) Target Price at $15.50

Crescent Capital BDC, Inc. (NASDAQ:CCAP) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $15.50.

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods dropped their target price on Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, April 16th. Zacks Research upgraded Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. B. Riley Financial initiated coverage on Crescent Capital BDC in a research note on Monday, March 30th. They set a “neutral” rating and a $13.50 price target on the stock. Finally, Wells Fargo & Company dropped their price target on Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th.

Crescent Capital BDC Stock Down 3.2%

Shares of CCAP stock opened at $13.12 on Tuesday. Crescent Capital BDC has a 1-year low of $11.80 and a 1-year high of $17.02. The stock’s fifty day moving average price is $13.00 and its 200 day moving average price is $13.81. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market cap of $485.05 million, a price-to-earnings ratio of 13.96 and a beta of 0.59.

Crescent Capital BDC (NASDAQ:CCAP) last announced its earnings results on Wednesday, February 25th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01. Crescent Capital BDC had a return on equity of 9.32% and a net margin of 20.64%.The firm had revenue of $19.05 million for the quarter, compared to the consensus estimate of $39.83 million. On average, research analysts expect that Crescent Capital BDC will post 1.63 earnings per share for the current fiscal year.

Crescent Capital BDC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 12.8%. The ex-dividend date was Tuesday, March 31st. Crescent Capital BDC’s payout ratio is presently 178.72%.

Institutional Trading of Crescent Capital BDC

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Crescent Capital BDC by 3.6% in the first quarter. Royal Bank of Canada now owns 61,707 shares of the company’s stock worth $1,056,000 after buying an additional 2,128 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Crescent Capital BDC during the second quarter valued at approximately $165,000. Quantbot Technologies LP purchased a new stake in shares of Crescent Capital BDC in the second quarter valued at approximately $219,000. Invesco Ltd. grew its position in shares of Crescent Capital BDC by 31.4% in the second quarter. Invesco Ltd. now owns 38,377 shares of the company’s stock valued at $541,000 after purchasing an additional 9,180 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Crescent Capital BDC in the second quarter valued at approximately $286,000. Hedge funds and other institutional investors own 49.46% of the company’s stock.

Crescent Capital BDC Company Profile

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.