Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Eagle Point Credit (ECC) Share Price
Headlines about Eagle Point Credit (NYSE:ECC) have trended somewhat positive recently, Accern reports. The research group identifies positive and negative media coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Eagle Point Credit earned a media sentiment score of 0.08 on Accern’s scale. Accern also assigned media stories about the investment management company an impact score of 46.5688145039073 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
ECC has been the subject of several research reports. National Securities reiterated a “buy” rating and issued a $24.00 target price on shares of Eagle Point Credit in a research report on Wednesday, August 16th. Ladenburg Thalmann Financial Services initiated coverage on Eagle Point Credit in a research report on Monday, September 25th. They issued a “buy” rating and a $20.50 target price for the company. Zacks Investment Research upgraded Eagle Point Credit from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. CIBC decreased their target price on Eagle Point Credit from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, November 15th. Finally, Oppenheimer Holdings, Inc. decreased their target price on Eagle Point Credit from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $21.13.
Eagle Point Credit (NYSE:ECC) opened at $19.15 on Friday. Eagle Point Credit has a 12-month low of $16.70 and a 12-month high of $22.11. The stock has a market capitalization of $351.56, a P/E ratio of 9.76 and a beta of 0.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.25 and a current ratio of 3.25.
The business also recently disclosed a monthly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 10th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, November 9th. This represents a $2.40 dividend on an annualized basis and a yield of 12.53%. Eagle Point Credit’s dividend payout ratio is currently 95.24%.
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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