Eagle Point Credit (NYSE:ECC) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Eagle Point Credit (NYSE:ECC) posted its quarterly earnings results on Thursday. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01), Zacks reports. Eagle Point Credit had a return on equity of 12.87% and a net margin of 36.60%.

Eagle Point Credit Stock Up 0.8 %

ECC stock traded up $0.07 during midday trading on Thursday, hitting $8.71. The company’s stock had a trading volume of 568,115 shares, compared to its average volume of 941,780. The company has a market cap of $670.47 million, a PE ratio of 10.88 and a beta of 0.75. Eagle Point Credit has a 12 month low of $8.56 and a 12 month high of $10.49. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average is $8.84 and its 200-day moving average is $9.37.

Eagle Point Credit Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be given a $0.14 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.68 annualized dividend and a yield of 19.28%. Eagle Point Credit’s dividend payout ratio (DPR) is presently 210.00%.

Analyst Ratings Changes

Separately, B. Riley lowered their price objective on Eagle Point Credit from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th.

About Eagle Point Credit

Eagle Point Credit Company Inc is a closed ended fund launched and managed by Eagle Point Credit Management LLC. It invests in fixed income markets of the United States. The fund invests equity and junior debt tranches of collateralized loan obligations consisting primarily of below investment grade U.S.