Crescent Capital BDC, Inc. (CCAP) to Issue Special Dividend of $0.03 on September 15th

Crescent Capital BDC, Inc. (NASDAQ:CCAP) declared a special dividend on Wednesday, May 13th. Stockholders of record on Monday, August 31st will be paid a dividend of 0.03 per share on Tuesday, September 15th. The ex-dividend date is Monday, August 31st.

Crescent Capital BDC has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 1 years. Crescent Capital BDC has a payout ratio of 97.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Crescent Capital BDC to earn $1.55 per share next year, which means the company may not be able to cover its $1.68 annual dividend with an expected future payout ratio of 108.4%.

Crescent Capital BDC Price Performance

Shares of NASDAQ:CCAP opened at $11.99 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.24. Crescent Capital BDC has a twelve month low of $11.80 and a twelve month high of $16.40. The stock’s 50 day moving average is $12.98 and its 200-day moving average is $13.78. The firm has a market capitalization of $443.27 million, a price-to-earnings ratio of 29.24 and a beta of 0.59.

Crescent Capital BDC (NASDAQ:CCAP) last issued its earnings results on Wednesday, May 13th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Crescent Capital BDC had a return on equity of 9.20% and a net margin of 9.26%.The company had revenue of ($6.84) million for the quarter, compared to analyst estimates of $39.58 million. Sell-side analysts forecast that Crescent Capital BDC will post 1.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Oppenheimer lowered Crescent Capital BDC from an “outperform” rating to a “market perform” rating and set a $16.00 price target for the company. in a research report on Friday. Keefe, Bruyette & Woods lowered their price target on Crescent Capital BDC from $15.50 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. Wells Fargo & Company lowered their price target on Crescent Capital BDC from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. B. Riley Financial raised Crescent Capital BDC to a “buy” rating in a research report on Thursday. Finally, Zacks Research raised Crescent Capital BDC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Crescent Capital BDC presently has a consensus rating of “Moderate Buy” and an average price target of $14.90.

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.