According to Zacks, business development company Crescent Capital BDC, Inc. (NASDAQ: CCAP), which announced its quarterly dividend on Nov. 9, has paid the full dividend. On January 17, shareholders who held shares of the company as of December 30 will receive dividends of $0.41 per share. These dividends will be distributed to the shareholders who held the share on December 30. This equates to a dividend payment of $1.64 per year, giving the stock an annual dividend yield of 11.55%. This dividend has an ex-date of December 29, a Thursday and the ex-date.
Crescent Capital BDC’s payout ratio is 93.2%, indicating that its dividend is currently covered by earnings, but may not be in the future if corporate earnings are falling. This may not be the case if the company’s profits drop. According to industry experts’ projections, Crescent Capital BDC will return $1.89 in earnings per share over the next fiscal year. This will allow the company to continue paying its annual dividend of $1.64 while maintaining its projected future payout ratio of 86.8%.
Midway through trading on Friday, the NASDAQ:CCAP ticker rose $0.12, taking the price to $14.20. However, only 200 shares changed hands, which was significantly lower than the daily average volume of 82,353. There is a ratio of 1.02 debt to equity, 0.90 current equity to equity and 0.90 quick equity on equity. The ratio of current equity to equity is the highest. The price of Crescent Capital BDC reached an all-time high of $20.91, while it has been as low as $12.55 over the past year. The company has a price/earnings ratio of 16.76 and its beta value is 0.79. The company’s market capitalization currently stands at $438.64 million. The simple moving average of the company’s stock price over the past 50 days is $15.07 and the simple moving average over the past 200 days is $16.22.
The most recent quarterly earnings report was made available to the general public on Wednesday, August 10 by Crescent Capital BDC (NASDAQ: CCAP), an investment firm. The company reported earnings per share of $0.41 for the quarter, $0.01 below the consensus estimate of $0.42 per share. Crescent Capital BDC achieved a return on equity of 8.00%, while the company generated a net margin of 43.62%. Revenue for the quarter was $26.77 million, which is significantly higher than the $25.63 million in estimated revenue provided by industry professionals. According to projections made by analysts focusing on equity research, Crescent Capital BDC will earn $1.71 per share in the current fiscal year.
Recently, various institutional investors and hedge funds have increased the percentage of CCAP ownership they hold in their portfolios. UBS Group AG’s stake in Crescent Capital BDC increased by 48.2% in the first three months of 2018. UBS Group AG now owns 6,645 shares of the company, which are worth a combined $118,000 due to additional purchases made throughout the period. Additionally, JPMorgan Chase & Co. invested approximately $185,000 in forming a new stake in Crescent Capital BDC in the first three months of the year. Envestnet Asset Management Inc. increased the proportion of Crescent Capital BDC’s holdings in its portfolio by 57.9% during the third quarter. Envestnet Asset Management Inc. now owns 16,598 shares of the company, worth $249,000. This is due to the company making additional purchases of 6,085 shares in the last quarter. During the second quarter, LPL Financial LLC increased its stake in Crescent Capital BDC, which it held to 93.7%. After purchasing an additional 10,616 shares during the period, LPL Financial LLC now owns a total of 21,946 shares in the company, or $340,000. This brings the total number of shares held by the company to a total of 21,946.
Last but not least, during the first quarter of this year, Royal Bank of Canada increased the proportion of Crescent Capital BDC in which it invested by 157.0%. After making an additional purchase of 20,728 shares during the period, Royal Bank of Canada now owns a total of 33,928 shares of the company, which are currently valued at $604,000. This was achieved through the bank’s participation in the one-period offering. Currently, 35.18% of the company’s shares are held by institutional investors, such as hedge funds and other institutional investors.
There were contributions from various research analysts, each of whom has a distinct view regarding the stock. In a research report posted online, Raymond James lowered his price target on Crescent Capital BDC shares on Wednesday, October 5. The new price target is $18.00, down from $20.50 previously. In addition, they gave the stock an “outperforming” rating over this period. Oppenheimer updated his assessment of Crescent Capital BDC from “market performance” to “outperforming” in a research note published Aug. 12. In the same time frame, they revised their price target for the stock to $19.00, down from the previous $20.00.
The Crescent Capital Business Development Corporation is a fund for business development companies specializing in private equity investments, buyouts and debt financing. The company is primarily interested in direct investment. It is aimed at end users who belong to the category of middle market consumers. It is expected that the fund will engage in investment activities within the borders of the United States.