Crescent Capital BDC, Inc. (CCAP) To Go Ex-Dividend on December 31st

Crescent Capital BDC, Inc. (NASDAQ:CCAP) declared a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.42 per share on Wednesday, January 15th. This represents a $1.68 annualized dividend and a dividend yield of 8.78%. 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 decline. Research 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 NASDAQ CCAP opened at $19.13 on Friday. Crescent Capital BDC has a 52 week low of $15.91 and a 52 week high of $19.63. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.17. The firm has a market cap of $708.96 million, a P/E ratio of 7.50 and a beta of 0.81. The business’s 50 day moving average price is $18.40 and its 200 day moving average price is $18.41.

Crescent Capital BDC (NASDAQ:CCAP) last released its quarterly earnings data on Monday, August 12th. The company reported $0.59 earnings per share 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 firm had revenue of $48.95 million for the quarter, compared to analyst estimates of $48.05 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. On average, sell-side analysts expect that Crescent Capital BDC will post 2.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CCAP shares. Wells Fargo & Company reduced their target price on Crescent Capital BDC from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 14th. Bank of America dropped 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 research report on Thursday, August 15th. Finally, 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 on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Crescent Capital BDC currently has an average rating of “Moderate Buy” and a consensus 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.