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What's in Store for Crescent Capital (CCAP) in Q2 Earnings?
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Crescent Capital BDC, Inc. (CCAP - Free Report) is slated to report second-quarter 2023 results on Aug 9, after market close. The company’s earnings and revenues in the to-be-reported quarter are expected to have improved on a year-over-year basis.
In the last reported quarter, CCAP’s earnings surpassed the Zacks Consensus Estimate. Results reflected an increase in total investment income and higher expenses.
CCAP has a decent earnings surprise history. The company’s earnings surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, the average surprise being 5.39%.
The Zacks Consensus Estimate for CCAP’s second-quarter earnings is pegged at $2.18 per share, unchanged over the past seven days. The estimate indicates a 31.7% jump from the year-ago quarter’s reported number.
The consensus estimate for sales is pegged at $45.7 million, suggesting a surge of 70.6%.
Other Key Estimates
Federal Reserve hiked interest rates by 25 basis points in the to-be-reported quarter. With this, the policy rate in the June-end quarter stood at 5-5.25%. This is likely to have majorly supported interest income for CCAP.
The Zacks Consensus Estimate for total interest income is pegged at $41.2 million, which implies a quarter-over-quarter gain of 17.6%.
The consensus estimate for total dividend income is pegged at $1.3 million, suggesting a sequential decline of 62.7%.
The Zacks Consensus Estimate for total other income is pegged at $0.05 million, indicating no change from the previous quarter.
Crescent Capital has been witnessing an escalation in total expenses for the past several quarters. Amid rising inflation, management fees are anticipated to have been increased. Thus, overall expenses are likely to have moved up in the quarter under discussion.
Earnings Whisper
The proven Zacks model does not predict an earnings beat for Crescent Capital this time around. This is because it does not have the right combination of two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or higher — for increasing the odds of an earnings beat.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Ares Capital Corporation’s (ARCC - Free Report) second-quarter 2023 core earnings of 58 cents per share surpassed the Zacks Consensus Estimate by a penny. Also, the bottom line reflected a rise of 26.1% from the prior-year quarter.
Results were primarily aided by an improvement in total investment income. Also, portfolio activity was robust in the quarter. However, an increase in expenses hurt ARCC’s results to some extent.
Capital One’s (COF - Free Report) second-quarter 2023 earnings of $3.52 per share outpaced the Zacks Consensus Estimate of $3.31. However, the bottom line tanked 29% from the year-ago quarter.
COF’s results were aided by increases in net interest income and fee income. However, despite higher rates, net interest margin declined year over year. Also, higher expenses along with a significant rise in provisions were the undermining factors.
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What's in Store for Crescent Capital (CCAP) in Q2 Earnings?
Crescent Capital BDC, Inc. (CCAP - Free Report) is slated to report second-quarter 2023 results on Aug 9, after market close. The company’s earnings and revenues in the to-be-reported quarter are expected to have improved on a year-over-year basis.
In the last reported quarter, CCAP’s earnings surpassed the Zacks Consensus Estimate. Results reflected an increase in total investment income and higher expenses.
CCAP has a decent earnings surprise history. The company’s earnings surpassed the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, the average surprise being 5.39%.
Crescent Capital BDC, Inc. Price and EPS Surprise
Crescent Capital BDC, Inc. price-eps-surprise | Crescent Capital BDC, Inc. Quote
Earnings & Sales Projection
The Zacks Consensus Estimate for CCAP’s second-quarter earnings is pegged at $2.18 per share, unchanged over the past seven days. The estimate indicates a 31.7% jump from the year-ago quarter’s reported number.
The consensus estimate for sales is pegged at $45.7 million, suggesting a surge of 70.6%.
Other Key Estimates
Federal Reserve hiked interest rates by 25 basis points in the to-be-reported quarter. With this, the policy rate in the June-end quarter stood at 5-5.25%. This is likely to have majorly supported interest income for CCAP.
The Zacks Consensus Estimate for total interest income is pegged at $41.2 million, which implies a quarter-over-quarter gain of 17.6%.
The consensus estimate for total dividend income is pegged at $1.3 million, suggesting a sequential decline of 62.7%.
The Zacks Consensus Estimate for total other income is pegged at $0.05 million, indicating no change from the previous quarter.
Crescent Capital has been witnessing an escalation in total expenses for the past several quarters. Amid rising inflation, management fees are anticipated to have been increased. Thus, overall expenses are likely to have moved up in the quarter under discussion.
Earnings Whisper
The proven Zacks model does not predict an earnings beat for Crescent Capital this time around. This is because it does not have the right combination of two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or higher — for increasing the odds of an earnings beat.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: CCAP has an Earnings ESP of -0.61%.
Zacks Rank: CCAP currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Performance of Two Finance Stocks
Ares Capital Corporation’s (ARCC - Free Report) second-quarter 2023 core earnings of 58 cents per share surpassed the Zacks Consensus Estimate by a penny. Also, the bottom line reflected a rise of 26.1% from the prior-year quarter.
Results were primarily aided by an improvement in total investment income. Also, portfolio activity was robust in the quarter. However, an increase in expenses hurt ARCC’s results to some extent.
Capital One’s (COF - Free Report) second-quarter 2023 earnings of $3.52 per share outpaced the Zacks Consensus Estimate of $3.31. However, the bottom line tanked 29% from the year-ago quarter.
COF’s results were aided by increases in net interest income and fee income. However, despite higher rates, net interest margin declined year over year. Also, higher expenses along with a significant rise in provisions were the undermining factors.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.