Janney Montgomery Scott Initiates Coverage on Crescent Capital BDC (NASDAQ:CCAP)

Janney Montgomery Scott initiated coverage on shares of Crescent Capital BDC (NASDAQ:CCAP) in a report issued on Friday morning, The Fly reports. The brokerage issued a neutral rating on the stock.

CCAP has been the topic of a number of other reports. BidaskClub cut shares of Crescent Capital BDC from a buy rating to a hold rating in a report on Saturday, October 3rd. Zacks Investment Research downgraded Crescent Capital BDC from a buy rating to a hold rating in a research note on Monday, October 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $15.00.

CCAP opened at $12.60 on Friday. The stock has a market capitalization of $354.90 million and a PE ratio of 6.92. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.40 and a quick ratio of 1.40. Crescent Capital BDC has a 12-month low of $6.21 and a 12-month high of $19.00. The firm’s fifty day moving average price is $13.02 and its 200 day moving average price is $12.17.

Crescent Capital BDC (NASDAQ:CCAP) last issued its earnings results on Monday, August 10th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $19.33 million during the quarter, compared to analyst estimates of $18.08 million. On average, equities research analysts forecast that Crescent Capital BDC will post 1.9 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.41 per share. The ex-dividend date was Tuesday, September 29th. This represents a $1.64 annualized dividend and a dividend yield of 13.02%. Crescent Capital BDC’s dividend payout ratio is currently 90.11%.

A number of large investors have recently modified their holdings of the stock. Royal Bank of Canada bought a new position in Crescent Capital BDC in the 1st quarter worth about $30,000. Victory Capital Management Inc. bought a new position in Crescent Capital BDC in the 1st quarter worth approximately $45,000. Tower Research Capital LLC TRC acquired a new stake in Crescent Capital BDC in the 1st quarter valued at approximately $65,000. Confluence Investment Management LLC acquired a new stake in Crescent Capital BDC in the 1st quarter valued at approximately $823,000. Finally, Morgan Stanley bought a new stake in Crescent Capital BDC during the 1st quarter valued at $833,000. Hedge funds and other institutional investors own 35.21% of the company’s stock.

Crescent Capital BDC Company Profile

There is no company description available for Crescent Capital BDC Inc

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