Crescent Capital BDC, Inc. (NASDAQ:CCAP) to Issue $0.42 Quarterly Dividend

Crescent Capital BDC, Inc. (NASDAQ:CCAP) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Monday, March 31st will be paid a dividend of 0.42 per share on Tuesday, April 15th. This represents a $1.68 annualized dividend and a yield of 8.81%. The ex-dividend date is Monday, March 31st.

Crescent Capital BDC has raised its dividend by an average of 0.6% annually over the last three years. Crescent Capital BDC has a payout ratio of 88.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Crescent Capital BDC to earn $2.09 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 80.4%.

Crescent Capital BDC Stock Performance

CCAP traded down $0.94 during midday trading on Thursday, reaching $19.06. The company’s stock had a trading volume of 281,545 shares, compared to its average volume of 92,218. The stock has a market cap of $706.33 million, a P/E ratio of 7.47 and a beta of 0.81. The company has a fifty day simple moving average of $19.48 and a 200 day simple moving average of $18.86. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.14. Crescent Capital BDC has a twelve month low of $16.38 and a twelve month high of $20.19.

Crescent Capital BDC (NASDAQ:CCAP) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Crescent Capital BDC had a return on equity of 12.20% and a net margin of 47.06%. The firm had revenue of $46.40 million for the quarter, compared to analyst estimates of $47.27 million. Research analysts expect that Crescent Capital BDC will post 2.43 earnings per share for the current year.

Analyst Ratings Changes

CCAP has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Crescent Capital BDC from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 29th. Keefe, Bruyette & Woods raised their price objective on shares of Crescent Capital BDC from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.33.

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.