Shares of EAGLE POINT CR/COM (NYSE:ECC) have been assigned an average rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $24.00.
ECC has been the subject of a number of research reports. ValuEngine cut shares of EAGLE POINT CR/COM from a “hold” rating to a “sell” rating in a report on Friday, December 21st. LADENBURG THALM/SH SH cut shares of EAGLE POINT CR/COM from a “buy” rating to a “neutral” rating in a report on Friday, February 22nd. Finally, National Securities restated a “buy” rating and issued a $24.00 price target on shares of EAGLE POINT CR/COM in a report on Sunday, February 24th.
Several institutional investors have recently added to or reduced their stakes in the business. Quad Cities Investment Group LLC lifted its stake in shares of EAGLE POINT CR/COM by 28.6% in the first quarter. Quad Cities Investment Group LLC now owns 2,534 shares of the investment management company’s stock valued at $41,000 after buying an additional 563 shares in the last quarter. Wedbush Securities Inc. lifted its stake in shares of EAGLE POINT CR/COM by 4.9% in the fourth quarter. Wedbush Securities Inc. now owns 16,050 shares of the investment management company’s stock valued at $228,000 after buying an additional 750 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of EAGLE POINT CR/COM by 9.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 11,597 shares of the investment management company’s stock valued at $165,000 after buying an additional 1,006 shares in the last quarter. Lindbrook Capital LLC bought a new position in shares of EAGLE POINT CR/COM in the fourth quarter valued at $28,000. Finally, Cutler Group LP bought a new position in shares of EAGLE POINT CR/COM in the fourth quarter valued at $46,000. 34.67% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:ECC traded up $0.15 during trading hours on Friday, reaching $17.00. The company had a trading volume of 68,771 shares, compared to its average volume of 138,231. The stock has a market capitalization of $402.00 million, a price-to-earnings ratio of 10.69 and a beta of 0.58. EAGLE POINT CR/COM has a twelve month low of $12.16 and a twelve month high of $18.87.
EAGLE POINT CR/COM (NYSE:ECC) last posted its quarterly earnings results on Thursday, February 21st. The investment management company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.04). The business had revenue of $17.75 million for the quarter, compared to analyst estimates of $18.20 million. On average, research analysts forecast that EAGLE POINT CR/COM will post 1.66 EPS for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 12th will be paid a $0.20 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.12%. The ex-dividend date is Thursday, April 11th. EAGLE POINT CR/COM’s dividend payout ratio (DPR) is 150.94%.
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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