Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Eagle Point Credit (ECC) Stock Price
News articles about Eagle Point Credit (NYSE:ECC) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research group ranks the sentiment of media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Eagle Point Credit earned a daily sentiment score of 0.09 on Accern’s scale. Accern also assigned news stories about the investment management company an impact score of 46.280507557762 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Here are some of the news stories that may have impacted Accern Sentiment’s rankings:
- Chart Trading: Viewing Signals For Eagle Point Credit Company Inc (ECC) – Hayden Business Journal (haydenbusinessjournal.com)
- Eagle Point Credit Company Inc. (NYSE:ECC) Sees Unusual Trading Volume in Its Shares – Modern Readers (modernreaders.com)
- Eagle Point Credit Company Inc. (NYSE:ECC) Sees Significantly … – Highlight Press (highlightpress.com)
- Shares Running on Volume: Eagle Point Credit Company Inc (ECC) – Sheridan Daily (sheridandaily.com)
- Stock Checkup on Eagle Point Credit Company Inc (ECC) – Danville Daily (danvilledaily.com)
Several brokerages have commented on ECC. National Securities reissued a “buy” rating and issued a $24.00 price target on shares of Eagle Point Credit in a report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Eagle Point Credit from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Oppenheimer Holdings, Inc. initiated coverage on shares of Eagle Point Credit in a report on Tuesday, May 16th. They set an “outperform” rating and a $24.00 price objective for the company. Finally, CIBC initiated coverage on shares of Eagle Point Credit in a report on Tuesday, May 16th. They set an “outperform” rating for the company.
Shares of Eagle Point Credit (ECC) opened at 20.63 on Friday. Eagle Point Credit has a 12-month low of $16.13 and a 12-month high of $22.11. The stock’s 50 day moving average is $20.65 and its 200-day moving average is $20.12.
Eagle Point Credit (NYSE:ECC) last issued its earnings results on Tuesday, August 15th. The investment management company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.02. The company had revenue of $16.23 million for the quarter, compared to the consensus estimate of $16.60 million. On average, analysts predict that Eagle Point Credit will post $2.04 EPS for the current year.
The business also recently announced a special dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, August 23rd. This represents a dividend yield of 11.36%. Eagle Point Credit’s dividend payout ratio is 46.15%.
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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