Eagle Point Credit Company Inc. Announces Dividend of $0.14 (NYSE:ECC)

Eagle Point Credit Company Inc. (NYSE:ECC - Get Free Report) declared a dividend on Tuesday, May 6th, investing.com reports. Stockholders of record on Tuesday, May 13th will be paid a dividend of 0.14 per share by the investment management company on Friday, May 30th. This represents a dividend yield of 21.08%. The ex-dividend date is Monday, May 12th.

Eagle Point Credit has increased its dividend by an average of 13.6% per year over the last three years. Eagle Point Credit has a dividend payout ratio of 166.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Price Performance

Shares of NYSE ECC opened at $7.97 on Tuesday. The stock has a market capitalization of $613.28 million, a PE ratio of 9.49 and a beta of 0.46. Eagle Point Credit has a fifty-two week low of $6.54 and a fifty-two week high of $10.49. 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 business has a fifty day moving average price of $7.91 and a two-hundred day moving average price of $8.66.

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

Wall Street Analysts Forecast Growth

ECC has been the subject of a number of recent research reports. Credit Suisse Group set a $10.00 target price on Eagle Point Credit in a report on Monday, April 21st. B. Riley reduced their target price on shares of Eagle Point Credit from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th.

Insider Transactions at Eagle Point Credit

In other Eagle Point Credit news, CEO Thomas P. Majewski purchased 1,087 shares of the business's stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $23.00 per share, for a total transaction of $25,001.00. Following the acquisition, the chief executive officer now owns 1,087 shares of the company's stock, valued at approximately $25,001. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by corporate insiders.

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.

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