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.)