Eagle Point Credit (NYSE:ECC) Issues Earnings Results

Eagle Point Credit (NYSE:ECC) announced its quarterly earnings data on Thursday. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01), Zacks reports. Eagle Point Credit had a net margin of 36.60% and a return on equity of 12.87%.

Eagle Point Credit Stock Up 0.6 %

Shares of NYSE ECC traded up $0.06 during mid-day trading on Thursday, hitting $8.70. The company had a trading volume of 496,156 shares, compared to its average volume of 940,328. The company has a market capitalization of $669.16 million, a PE ratio of 10.88 and a beta of 0.75. The firm has a 50-day simple moving average of $8.84 and a two-hundred day simple moving average of $9.37. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. Eagle Point Credit has a one year low of $8.56 and a one year high of $10.49.

Eagle Point Credit Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be issued a $0.14 dividend. This represents a $1.68 annualized dividend and a dividend yield of 19.32%. The ex-dividend date of this dividend is Tuesday, June 10th. Eagle Point Credit’s payout ratio is 210.00%.

Wall Street Analyst Weigh In

Separately, B. Riley decreased their price objective on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating for the company in a 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.