Eagle Point Income (NYSE:EIC) Issues Earnings Results, Beats Estimates By $0.03 EPS

Eagle Point Income (NYSE:EIC) issued its quarterly earnings data on Thursday. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.03, Zacks reports.

Eagle Point Income Stock Performance

NYSE EIC traded down $0.10 during mid-day trading on Thursday, reaching $11.92. 302,852 shares of the stock were exchanged, compared to its average volume of 252,452. The business’s 50 day moving average is $12.86 and its 200-day moving average is $13.28. Eagle Point Income has a 1 year low of $11.68 and a 1 year high of $16.39.

Wall Street Analysts Forecast Growth

Several analysts have commented on EIC shares. LADENBURG THALM/SH SH raised shares of Eagle Point Income to a “strong-buy” rating in a research report on Wednesday, August 13th. Zacks Research upgraded shares of Eagle Point Income from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Eagle Point Income presently has an average rating of “Buy”.

Hedge Funds Weigh In On Eagle Point Income

A hedge fund recently raised its stake in Eagle Point Income stock. Cetera Investment Advisers raised its holdings in Eagle Point Income Company Inc. (NYSE:EIC) by 17.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,369 shares of the company’s stock after purchasing an additional 2,170 shares during the period. Cetera Investment Advisers’ holdings in Eagle Point Income were worth $196,000 at the end of the most recent quarter.

Eagle Point Income Company Profile

About Eagle Point Income Company 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, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.