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CCAP Crescent Capital Bdc News Story

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Crescent Capital BDC reports Q2 net investment income of $0.46/share

Overview

Crescent Capital BDC Q2 net investment income at $0.46/share, net income $0.41/share

Net asset value per share declined to $19.55 from $19.62 in prior qtr

Co authorizes $20 mln stock repurchase program below NAV

Result Drivers

INVESTMENT INCOME - Increase in investment income to $43.0 mln, driven by higher dividend income from Logan JV

PORTFOLIO ACTIVITY - Invested $57.5 mln in new companies and had $92.7 mln in exits, sales, and repayments

DIVIDEND INCREASE - Dividend income rose to $1.8 mln from $1.5 mln in the previous qtr

Key Details

MetricBeat/MissActualConsensus Estimate
Q2 EPS$0.46
Q2 Investments Fair Value$1.60 bln
Q2 Net Asset Value Per Share$19.55
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell" The average consensus recommendation for the closed end funds peer group is "buy" Wall Street's median 12-month price target for Crescent Capital BDC Inc is $17.00, about 14.1% above its August 12 closing price of $14.60 The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago Press Release: ID:nGNX2LG7Gr (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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