Eagle Point Credit Company Inc. (NYSE:ECC) – Equities research analysts at Oppenheimer decreased their FY2020 earnings estimates for shares of Eagle Point Credit in a research note issued on Tuesday, November 17th. Oppenheimer analyst C. Kotowski now forecasts that the investment management company will post earnings per share of $1.12 for the year, down from their prior forecast of $1.15.

Other analysts have also issued research reports about the company. LADENBURG THALM/SH SH increased their price objective on Eagle Point Credit from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday. B. Riley increased their price objective on Eagle Point Credit from $8.00 to $10.00 in a research note on Tuesday, August 18th.

ECC opened at $8.85 on Friday. The firm has a market cap of $209.28 million, a P/E ratio of -5.12 and a beta of 1.16. Eagle Point Credit has a 52 week low of $3.78 and a 52 week high of $15.95. The business’s fifty day simple moving average is $8.56 and its 200 day simple moving average is $7.66.

Eagle Point Credit (NYSE:ECC) last posted its earnings results on Monday, November 16th. The investment management company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.03).

The firm also recently announced a monthly dividend, which will be paid on Wednesday, March 31st. Shareholders of record on Friday, March 12th will be paid a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a yield of 10.85%. The ex-dividend date of this dividend is Thursday, March 11th. Eagle Point Credit’s payout ratio is currently 95.52%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its stake in shares of Eagle Point Credit by 82.5% in the 1st quarter. Morgan Stanley now owns 68,249 shares of the investment management company’s stock worth $466,000 after buying an additional 30,856 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in shares of Eagle Point Credit in the 3rd quarter worth $106,000. Private Advisor Group LLC bought a new stake in shares of Eagle Point Credit in the 2nd quarter worth $35,000. Commonwealth Equity Services LLC raised its stake in shares of Eagle Point Credit by 32.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 94,697 shares of the investment management company’s stock worth $673,000 after buying an additional 23,249 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Eagle Point Credit by 7.7% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 29,267 shares of the investment management company’s stock worth $208,000 after buying an additional 2,101 shares in the last quarter. 34.67% of the stock is currently owned by institutional investors.

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.

Further Reading: What sectors are represented in the Hang Seng index?

Earnings History and Estimates for Eagle Point Credit (NYSE:ECC)

Receive News & Ratings for Eagle Point Credit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eagle Point Credit and related companies with MarketBeat.com's FREE daily email newsletter.