Somewhat Positive Press Coverage Somewhat Unlikely to Impact Eagle Point Credit (ECC) Stock Price
Media headlines about Eagle Point Credit (NYSE:ECC) have been trending somewhat positive on Monday, according to Accern Sentiment Analysis. The research group rates the sentiment of news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Eagle Point Credit earned a media sentiment score of 0.07 on Accern’s scale. Accern also gave media coverage about the investment management company an impact score of 45.7929153755668 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Here are some of the headlines that may have impacted Accern Sentiment Analysis’s rankings:
- Positive Ichimoku Levels For Eagle Point Credit Company Inc (ECC) Indicate Upward Momentum – Evergreen Caller (evergreencaller.com)
- Eagle Point Credit Company Inc. Schedules Release of Second Quarter 2017 Financial Results on Tuesday, August 15, 2017 (finance.yahoo.com)
- Eagle Point Credit Company Inc. Prices Offering of Notes (finance.yahoo.com)
- Eagle Point Credit Company Inc. (ECC) Given Average Recommendation of “Buy” by Brokerages (americanbankingnews.com)
- BRIEF-Eagle Point Credit Co announces offering of notes (reuters.com)
Several brokerages have issued reports on ECC. National Securities reissued a “buy” rating and issued a $24.00 price objective on shares of Eagle Point Credit in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of Eagle Point Credit from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Oppenheimer Holdings, Inc. assumed coverage on shares of Eagle Point Credit in a research note on Tuesday, May 16th. They set an “outperform” rating and a $24.00 price target on the stock. Finally, CIBC assumed coverage on shares of Eagle Point Credit in a research report on Tuesday, May 16th. They issued an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $21.00.
Eagle Point Credit (NYSE ECC) opened at 21.04 on Monday. The firm has a 50-day moving average of $20.64 and a 200-day moving average of $19.62. Eagle Point Credit has a 12-month low of $16.13 and a 12-month high of $22.11.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 12th will be paid a $0.20 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 11.41%. The ex-dividend date is Monday, September 11th. Eagle Point Credit’s dividend payout ratio is currently 39.15%.
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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 primarily invests in equity and junior debt tranches of collateralized loan obligations (CLOs) that are collateralized by a portfolio consisting primarily of the below investment grade United States senior secured loans.
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