Eagle Point Credit Company Inc. to Issue Monthly Dividend of $0.20 (ECC)
Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Tuesday, October 3rd, Wall Street Journal reports. Investors of record on Friday, November 10th will be paid a dividend of 0.20 per share by the investment management company on Thursday, November 30th. This represents a $2.40 annualized dividend and a yield of 11.43%. The ex-dividend date is Thursday, November 9th.
Eagle Point Credit (ECC) traded up 0.0395% on Wednesday, reaching $20.9982. 422 shares of the company’s stock were exchanged. Eagle Point Credit has a 1-year low of $16.13 and a 1-year high of $22.11. The firm’s 50 day moving average is $20.67 and its 200 day moving average is $20.44.
Eagle Point Credit (NYSE:ECC) last announced its quarterly earnings data on Tuesday, August 15th. The investment management company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The company had revenue of $16.23 million for the quarter, compared to analyst estimates of $16.60 million. On average, equities analysts anticipate that Eagle Point Credit will post $2.04 EPS for the current year.
A number of equities research analysts have recently issued reports on ECC shares. Ladenburg Thalmann Financial Services initiated coverage on Eagle Point Credit in a research report on Monday, September 25th. They set a “buy” rating and a $20.50 target price on the stock. National Securities reiterated a “buy” rating and issued a $24.00 price target on shares of Eagle Point Credit in a research report on Wednesday, August 16th. Finally, Zacks Investment Research upgraded Eagle Point Credit from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Eagle Point Credit presently has an average rating of “Buy” and a consensus target price of $22.83.
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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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