Eagle Point Credit (NYSE:ECC) Announces Earnings Results

Eagle Point Credit (NYSE:ECC) announced its quarterly earnings data on Thursday. The investment management company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01), Zacks reports. The firm had revenue of $49.55 million during the quarter, compared to the consensus estimate of $49.76 million. Eagle Point Credit had a net margin of 44.67% and a return on equity of 12.53%.

Eagle Point Credit Stock Performance

ECC stock opened at $8.79 on Friday. The business’s 50-day moving average price is $8.83 and its two-hundred day moving average price is $9.36. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. The firm has a market cap of $676.01 million, a PE ratio of 10.46 and a beta of 0.75. Eagle Point Credit has a 1-year low of $8.56 and a 1-year high of $10.49.

Eagle Point Credit Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.68 annualized dividend and a yield of 19.12%. Eagle Point Credit’s dividend payout ratio is presently 200.00%.

Analyst Upgrades and Downgrades

Separately, B. Riley reduced their price target on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th.

Eagle Point Credit Company Profile

Eagle Point Credit Company Inc is a closed ended fund launched and managed by Eagle Point Credit Management LLC. It invests in fixed income markets of the United States. The fund invests equity and junior debt tranches of collateralized loan obligations consisting primarily of below investment grade U.S.