OFS Credit (NASDAQ:OCCI) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

OFS Credit (NASDAQ:OCCI) issued its quarterly earnings data on Thursday. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.02), Zacks reports.

OFS Credit Stock Performance

NASDAQ:OCCI remained flat at $2.36 on Thursday. 150,304 shares of the company’s stock traded hands, compared to its average volume of 303,666. OFS Credit has a 52-week low of $2.15 and a 52-week high of $5.84. The firm’s 50-day simple moving average is $2.52 and its two-hundred day simple moving average is $2.83. The firm has a market cap of $69.31 million, a PE ratio of -1.93 and a beta of 0.72.

OFS Credit Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be paid a $0.05 dividend. The ex-dividend date is Thursday, October 15th. This represents a c) annualized dividend and a yield of 25.4%. OFS Credit’s dividend payout ratio (DPR) is -76.23%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded OFS Credit from a “sell” rating to a “hold” rating in a report 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.