Eagle Point Income (NYSE:EIC) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Eagle Point Income (NYSE:EIC) posted its quarterly earnings results on Thursday. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03, Zacks reports.

Eagle Point Income Stock Performance

EIC traded down $0.24 on Friday, reaching $11.74. The company’s stock had a trading volume of 145,355 shares, compared to its average volume of 252,209. The stock has a 50 day moving average of $12.82 and a two-hundred day moving average of $13.27. Eagle Point Income has a fifty-two week low of $11.68 and a fifty-two week high of $16.39.

Eagle Point Income Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 11th will be issued a $0.11 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.2%. The ex-dividend date is Wednesday, March 11th.

Wall Street Analyst Weigh In

EIC has been the subject of several recent analyst reports. 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. LADENBURG THALM/SH SH upgraded Eagle Point Income to a “strong-buy” rating in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Eagle Point Income presently has an average rating of “Buy”.

Institutional Inflows and Outflows

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

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.