Eagle Point Credit Company Inc. (ECC) To Go Ex-Dividend on April 10th

Eagle Point Credit Company Inc. (NYSE:ECC) declared a dividend on Wednesday, February 12th, NASDAQ Dividends reports. Shareholders of record on Thursday, April 10th will be given a dividend of 0.14 per share by the investment management company on Wednesday, April 30th. The ex-dividend date is Thursday, April 10th.

Eagle Point Credit has increased its dividend payment by an average of 13.6% per year over the last three years. Eagle Point Credit has a payout ratio of 166.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Eagle Point Credit to earn $1.10 per share next year, which means the company may not be able to cover its $1.68 annual dividend with an expected future payout ratio of 152.7%.

Eagle Point Credit Stock Down 2.3 %

ECC opened at $7.05 on Tuesday. The stock’s fifty day simple moving average is $8.43 and its 200 day simple moving average is $8.99. 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 stock has a market cap of $542.10 million, a PE ratio of 8.39 and a beta of 0.35. Eagle Point Credit has a 1-year low of $6.54 and a 1-year high of $10.49.

Eagle Point Credit (NYSE:ECC) last issued its quarterly earnings data on Thursday, February 20th. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business had revenue of $49.55 million during the quarter, compared to analyst estimates of $49.76 million. Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. As a group, research analysts expect that Eagle Point Credit will post 1.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Eagle Point Credit

In related news, CEO Thomas P. Majewski bought 1,087 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were purchased at an average price of $23.00 per share, with a total value of $25,001.00. Following the completion of the purchase, the chief executive officer now owns 1,087 shares in the company, valued at $25,001. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.22% of the stock is currently owned by insiders.

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.