EAGLE POINT CR/COM (NYSE:ECC) – Equities research analysts at B. Riley cut their Q1 2020 earnings estimates for shares of EAGLE POINT CR/COM in a note issued to investors on Monday, March 23rd. B. Riley analyst R. Binner now expects that the investment management company will earn $0.29 per share for the quarter, down from their previous forecast of $0.33. B. Riley currently has a “Buy” rating and a $11.00 target price on the stock. B. Riley also issued estimates for EAGLE POINT CR/COM’s FY2020 earnings at $1.10 EPS and FY2021 earnings at $1.10 EPS.
A number of other equities research analysts also recently weighed in on ECC. LADENBURG THALM/SH SH raised EAGLE POINT CR/COM from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Monday, December 9th. ValuEngine raised EAGLE POINT CR/COM from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd.
EAGLE POINT CR/COM (NYSE:ECC) last posted its quarterly earnings results on Thursday, February 27th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.14). The firm had revenue of $14.76 million during the quarter, compared to analyst estimates of $17.90 million.
Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new stake in EAGLE POINT CR/COM in the fourth quarter valued at about $56,000. UBS Group AG raised its stake in EAGLE POINT CR/COM by 481.2% in the fourth quarter. UBS Group AG now owns 3,865 shares of the investment management company’s stock valued at $56,000 after buying an additional 3,200 shares during the last quarter. Millennium Management LLC purchased a new stake in EAGLE POINT CR/COM in the third quarter valued at about $209,000. Citigroup Inc. raised its stake in EAGLE POINT CR/COM by 29.6% in the fourth quarter. Citigroup Inc. now owns 16,385 shares of the investment management company’s stock valued at $240,000 after buying an additional 3,739 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in EAGLE POINT CR/COM by 13.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 25,148 shares of the investment management company’s stock valued at $367,000 after buying an additional 2,970 shares during the last quarter. Institutional investors own 34.69% of the company’s stock.
In other EAGLE POINT CR/COM news, Portfolio Manager Daniel M. Spinner purchased 536,875 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was bought at an average cost of $10.09 per share, for a total transaction of $5,417,068.75. Also, Portfolio Manager Thomas P. Majewski purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was acquired at an average price of $13.93 per share, with a total value of $696,500.00. 0.47% of the stock is owned by company insiders.
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 12th will be given a dividend of $0.20 per share. This represents a $2.40 dividend on an annualized basis and a yield of 30.04%. The ex-dividend date of this dividend is Wednesday, March 11th. EAGLE POINT CR/COM’s payout ratio is currently 179.10%.
EAGLE POINT CR/COM 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.
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