OFS Credit (NASDAQ:OCCI) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

OFS Credit (NASDAQ:OCCI) posted its quarterly earnings data on Thursday. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02), Zacks reports.

OFS Credit Price Performance

NASDAQ OCCI remained flat at $2.36 during trading on Thursday. 150,304 shares of the company’s stock traded hands, compared to its average volume of 303,666. The stock has a market cap of $69.31 million, a PE ratio of -1.93 and a beta of 0.72. OFS Credit has a twelve month low of $2.15 and a twelve month high of $5.84. The firm’s 50 day moving average price is $2.52 and its 200 day moving average price is $2.83.

OFS Credit Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be given a $0.05 dividend. This represents a c) dividend on an annualized basis and a yield of 25.4%. The ex-dividend date of this dividend is Thursday, October 15th. OFS Credit’s dividend payout ratio is -76.23%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised OFS Credit from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st.

About OFS Credit

OFS Credit Company, Inc is a closed-end investment company that seeks to generate current income and, to a lesser extent, capital appreciation by investing in collateralized loan obligations (CLOs). Its portfolio primarily consists of CLO equity and debt tranches, which are securities backed by pools of senior secured corporate loans.

The company’s investments generally provide exposure to corporate borrowers through the underlying loan portfolios rather than through direct lending by OFS Credit.