Crescent Capital BDC (CCAP) Set to Announce Quarterly Earnings

Crescent Capital BDC (NASDAQ:CCAP) is scheduled to release its quarterly earnings report on Monday, November 11th, after the market closes. Analysts forecast that the company will report earnings of $0.57 per share for this quarter. Interested parties can access the company’s conference call using this link.

Previous Earnings Report

In its last earnings announcement on August 12th, Crescent Capital BDC reported earnings of $0.59 per share, surpassing the consensus estimate of $0.58 by a small margin. The company achieved revenues of $48.95 million during that quarter, which was higher than the projected $48.05 million. For the same period the previous year, the earnings per share stood at $0.56. Analysts are predicting an annual EPS of $2 for both this fiscal year and the next.

Stock Performance

On Monday, Crescent Capital BDC stocks opened at $18.02. Over the past year, the stock has seen a low of $15.91 and a high of $19.63. The company maintains a current ratio and quick ratio of 1.40, with a debt-to-equity ratio of 1.17. Its 50-day and 200-day moving averages are $18.42 and $18.36, respectively. The company's market capitalization is approximately $667.82 million, with a P/E ratio of 6.55 and a beta of 0.81.

Dividend Increase

Recently, Crescent Capital BDC increased its quarterly dividend. Shareholders received a dividend of $0.42 on October 15th, up from the previous $0.09. This translates to an annualized dividend of $1.68, providing a yield of 9.32%. The ex-dividend date was September 30th, and the dividend payout ratio is currently at 61.09%.

Analyst Ratings

Several analysts have recently shared their insights regarding Crescent Capital BDC. Wells Fargo lowered its target price from $19.00 to $18.00, rating the stock as “equal weight.” Meanwhile, LADENBURG THALM/SH SH initiated coverage with a “buy” rating and a $20.00 target price. Bank of America also reduced its price target from $20.00 to $19.00 while maintaining a “buy” rating. Currently, one analyst rates the stock as a hold, while five analysts recommend it as a buy. The average rating for Crescent Capital BDC is a “Moderate Buy” with an average target price of $19.00.

About Crescent Capital BDC

Crescent Capital BDC, Inc. operates as a business development company that specializes in private equity and loans. The firm focuses on investing directly in middle-market companies within the United States.

Conclusion

With the upcoming earnings announcement, investors and analysts are keenly observing Crescent Capital BDC's performance, especially following the company’s commitment to enhance shareholder value through its increased dividend.

Earnings, Stocks, Dividends