Eagle Point Credit (NYSE:ECC) Releases Earnings Results, Misses Estimates By $0.01 EPS

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

Eagle Point Credit Trading Down 0.8 %

ECC stock opened at $8.79 on Friday. The business has a fifty day moving average price of $8.83 and a 200 day moving average price of $9.36. Eagle Point Credit has a fifty-two week low of $8.56 and a fifty-two week high of $10.49. The stock has a market capitalization of $676.01 million, a price-to-earnings ratio of 10.46 and a beta of 0.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27.

Eagle Point Credit Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 30th. Investors 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 dividend on an annualized basis and a yield of 19.12%. Eagle Point Credit’s dividend payout ratio is 200.00%.

Analyst Upgrades and Downgrades

Separately, B. Riley dropped their price target 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.

About Eagle Point Credit

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.