Eagle Point Credit Company Inc. (ECC) Set to Announce Quarterly Earnings on Tuesday
Eagle Point Credit Company Inc. (NYSE:ECC) will be releasing its earnings data before the market opens on Tuesday, November 14th. Analysts expect Eagle Point Credit to post earnings of $0.50 per share for the quarter.
Eagle Point Credit (NYSE:ECC) last issued its quarterly earnings results on Tuesday, August 15th. The investment management company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.02. The firm had revenue of $16.23 million for the quarter, compared to the consensus estimate of $16.60 million. Eagle Point Credit had a net margin of 134.32% and a return on equity of 10.56%. On average, analysts expect Eagle Point Credit to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Eagle Point Credit Company Inc. (NYSE ECC) opened at $19.21 on Monday. The stock has a market cap of $348.48, a P/E ratio of 9.37 and a beta of 0.30. Eagle Point Credit Company Inc. has a 1 year low of $16.24 and a 1 year high of $22.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.25 and a quick ratio of 3.25.
The company also recently declared a monthly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, November 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 12.49%. Eagle Point Credit’s dividend payout ratio (DPR) is currently 46.15%.
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A number of brokerages have recently issued reports on ECC. Zacks Investment Research downgraded shares of Eagle Point Credit from a “hold” rating to a “sell” rating in a research report on Tuesday, August 29th. Ladenburg Thalmann Financial Services began coverage on shares of Eagle Point Credit in a research report on Monday, September 25th. They issued a “buy” rating and a $20.50 price target on the stock. Finally, National Securities restated a “buy” rating and issued a $24.00 price target on shares of Eagle Point Credit in a research report on Wednesday, August 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $22.83.
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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