OFS Credit (NASDAQ:OCCI) Issues Earnings Results

OFS Credit (NASDAQ:OCCI) released its earnings results on Thursday. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02), Zacks reports.

OFS Credit Price Performance

OCCI stock remained flat at $2.36 during midday trading on Thursday. 150,304 shares of the company’s stock were exchanged, compared to its average volume of 303,666. OFS Credit has a 1-year low of $2.15 and a 1-year high of $5.84. The stock has a market capitalization of $69.31 million, a price-to-earnings ratio of -1.93 and a beta of 0.72. The firm has a 50 day moving average price of $2.52 and a 200-day moving average price of $2.83.

OFS Credit Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a c) dividend on an annualized basis and a yield of 25.4%. OFS Credit’s payout ratio is presently -76.23%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of OFS Credit from a “sell” rating to a “hold” rating in a research note on Sunday, June 21st.

OFS Credit Company Profile

OFS Credit Company, Inc is a closed-end investment company that seeks to generate current income and, to a lesser extent, capital appreciation by investing in collateralized loan obligations (CLOs). Its portfolio primarily consists of CLO equity and debt tranches, which are securities backed by pools of senior secured corporate loans.

The company’s investments generally provide exposure to corporate borrowers through the underlying loan portfolios rather than through direct lending by OFS Credit.