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

Reuters
Aug 14
Crescent Capital BDC reports <a href="https://laohu8.com/S/QTWO">Q2</a> 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

Metric

Beat/Miss

Actual

Consensus 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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