Overview

* Crescent Capital BDC ( CCAP ) Q3 net investment income per share was $0.46, unchanged from Q2

* Net asset value per share declines to $19.28 from $20.20 year-over-year

* Company declares Q4 regular cash dividend of $0.42 per share

Outlook

* Company has $239.8 mln undrawn capacity on credit facilities

* Weighted average cost of debt is 5.99%

* Company's debt to equity ratio is 1.23x

Result Drivers

* INTEREST INCOME DECLINE - Co reports decreased interest income due to decline in benchmark rates and debt restructurings

* DIVIDEND INCOME INCREASE - Co notes increase in dividend income compared to previous quarter

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $1.58

Investme bln

nts Fair

Value

Q3 Net $19.28

Asset

Value

Per

Share

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "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 ( CCAP ) is $17.00, about 16.2% above its November 11 closing price of $14.24

* The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release:

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(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.)