Eagle Point Credit Co. (ECC) to Release Quarterly Earnings on Wednesday
Eagle Point Credit Co. (NYSE:ECC) is scheduled to be issuing its Q316 quarterly earnings data on Wednesday, November 16th. Analysts expect the company to announce earnings of $0.57 per share and revenue of $14.54 million for the quarter.
Shares of Eagle Point Credit Co. (NYSE:ECC) opened at 16.56 on Monday. The firm has a 50-day moving average price of $16.83 and a 200-day moving average price of $16.99. Eagle Point Credit Co. has a 12 month low of $13.30 and a 12 month high of $19.15.
The business also recently announced a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Friday, September 30th were issued a $0.60 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $2.40 dividend on an annualized basis and a yield of 14.49%. Eagle Point Credit’s dividend payout ratio (DPR) is presently -120.60%.
In other news, CFO Kenneth P. Onorio bought 1,696 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were purchased at an average price of C$17.75 per share, for a total transaction of C$30,104.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.65% of the stock is currently owned by insiders.
A hedge fund recently bought a new stake in Eagle Point Credit stock. National Asset Management Inc. bought a new position in Eagle Point Credit Co. (NYSE:ECC) during the second quarter, according to its most recent 13F filing with the SEC. The firm bought 16,158 shares of the investment management company’s stock, valued at approximately $261,000. 69.99% of the stock is currently owned by institutional investors.
A number of research analysts have issued reports on ECC shares. National Securities reaffirmed a “buy” rating and issued a $24.00 target price on shares of Eagle Point Credit in a report on Monday, October 10th. Zacks Investment Research raised shares of Eagle Point Credit from a “sell” rating to a “hold” rating in a report on Tuesday, October 25th. Deutsche Bank AG increased their target price on shares of Eagle Point Credit from $18.50 to $19.00 and gave the company a “buy” rating in a report on Thursday, August 25th. Finally, Compass Point increased their target price on shares of Eagle Point Credit from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, August 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Eagle Point Credit presently has an average rating of “Buy” and an average target price of C$19.25.
About Eagle Point Credit
Eagle Point Credit Company Inc is a non-diversified, closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. The Company invests primarily in equity and junior debt tranches of collateralized loan obligations (CLOs).
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