EAGLE POINT CR/COM (NYSE:ECC) announced its earnings results on Thursday. The investment management company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.04, Yahoo Finance reports. The company had revenue of $17.66 million for the quarter, compared to analysts’ expectations of $15.50 million.
ECC stock opened at $6.45 on Friday. The stock’s fifty day simple moving average is $6.14 and its two-hundred day simple moving average is $11.91. EAGLE POINT CR/COM has a 1-year low of $3.78 and a 1-year high of $19.41. The stock has a market cap of $144.25 million, a P/E ratio of 4.62 and a beta of 0.99.
The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.96 annualized dividend and a yield of 14.88%. EAGLE POINT CR/COM’s dividend payout ratio is currently 161.19%.
Several research analysts recently issued reports on the company. ValuEngine cut EAGLE POINT CR/COM from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 2nd. B. Riley reaffirmed a “buy” rating and set a $8.00 target price on shares of EAGLE POINT CR/COM in a research report on Friday. Finally, Oppenheimer reissued a “hold” rating on shares of EAGLE POINT CR/COM in a research report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $16.00.
About EAGLE POINT CR/COM
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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