Crescent Capital BDC Inc . (NASDAQ:CCAP) stock soared to a 52-week high, reaching a price level of $19.65. With a market capitalization of $727 million, the business development company has demonstrated strong momentum, supported by analyst targets ranging from $18 to $20. According to InvestingPro analysis, the stock currently trades at an attractive P/E ratio of 7.6x. This peak reflects a robust year for the investment firm, with the stock witnessing an impressive 1-year change of 17.35%. The company's performance has evidently resonated well with investors, with revenue growth of 19% and a consistent track record of raising dividends for five consecutive years. The stock's upward trajectory culminated in this new high-water mark, signaling strong confidence in Crescent Capital's business model and future prospects. For deeper insights into CCAP's valuation and growth metrics, access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, Crescent Capital BDC reported strong third-quarter earnings for 2024 along with an optimistic outlook. The company's net investment income (NII) stood at $0.64 per share, translating to an annualized return on equity of 12.6%. Crescent Capital BDC declared a supplemental dividend of $0.07 per share in addition to a regular dividend of $0.42 per share. Despite a slight quarter-over-quarter decrease, the net asset value (NAV) per share of $20.20 has seen a year-over-year increase of 2.5%.
The portfolio of Crescent Capital BDC is valued at approximately $1.6 billion, spread across 183 companies and 20 industries, with 90% in first-lien loans. The company's total investment income rose 5% to $51.6 million, boosted by non-recurring income from accelerated amortization and refinancing activities. The company's debt-to-equity ratio improved to 1.15, with no debt maturities until 2026.
Crescent Capital BDC expressed optimism for increased investment activity in 2025, despite acknowledging challenges in the fundraising environment. The management's outlook for 2025 is positive, underpinned by favorable market conditions and a disciplined investment approach. These are recent developments for the company.
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