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

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

Eagle Point Credit Trading Up 0.8 %

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

Eagle Point Credit Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.68 dividend on an annualized basis and a yield of 19.28%. Eagle Point Credit’s dividend payout ratio is presently 210.00%.

Wall Street Analysts Forecast Growth

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

Eagle Point Credit Company Profile

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.