Eagle Point Credit Company Inc. (ECC) To Go Ex-Dividend on November 10th

Eagle Point Credit Company Inc. (NYSE:ECC) announced a monthly dividend on Thursday, August 13th. Shareholders of record on Tuesday, November 10th will be paid a dividend of 0.06 per share by the investment management company on Monday, November 30th. This represents a c) annualized dividend and a yield of 18.5%. The ex-dividend date of this dividend is Tuesday, November 10th.

Eagle Point Credit has raised its dividend payment by an average of 0.1%per year over the last three years. Eagle Point Credit has a payout ratio of 127.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Eagle Point Credit to earn $0.69 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 173.9%.

Eagle Point Credit Stock Up 0.4%

Eagle Point Credit stock opened at $3.88 on Friday. The firm has a market cap of $513.64 million, a price-to-earnings ratio of 5.80 and a beta of 0.36. The stock has a fifty day simple moving average of $3.78 and a two-hundred day simple moving average of $4.04. Eagle Point Credit has a 12 month low of $3.46 and a 12 month high of $7.77. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.02.

Eagle Point Credit (NYSE:ECC) last announced its quarterly earnings results on Thursday, August 13th. The investment management company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Eagle Point Credit had a negative net margin of 84.29% and a negative return on equity of 1.74%. The business had revenue of $37.90 million for the quarter, compared to the consensus estimate of $41.62 million. Equities analysts predict that Eagle Point Credit will post 0.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Eagle Point Credit from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.50.

Eagle Point Credit Company Profile

Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.

The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.