Eagle Point Credit (NYSE:ECC) Posts Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Eagle Point Credit (NYSE:ECC) reported an EPS of $0.23 for the quarter, missing estimates by $0.02, with a positive return on equity of 12.90% but a negative net margin of 27.15%.
• The stock price increased by 9.8% to $6.87, with a market capitalization of approximately $528.26 million and a P/E ratio of -17.14.
• Eagle Point Credit announced a $0.14 per share dividend to be paid on August 29th, with a payout ratio currently at -420.00%.

Eagle Point Credit (NYSE:ECC - Get Free Report) released its quarterly earnings results on Tuesday. The investment management company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02), Zacks reports. Eagle Point Credit had a positive return on equity of 12.90% and a negative net margin of 27.15%.

Eagle Point Credit Trading Up 9.8%

NYSE ECC traded up $0.62 on Tuesday, reaching $6.87. 3,121,246 shares of the company were exchanged, compared to its average volume of 1,459,194. The business's fifty day moving average price is $7.38 and its 200 day moving average price is $7.84. Eagle Point Credit has a fifty-two week low of $6.00 and a fifty-two week high of $10.06. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $528.26 million, a P/E ratio of -17.14 and a beta of 0.38.

Eagle Point Credit Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 12th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, August 11th. This represents a yield of 2,438.0%. Eagle Point Credit's dividend payout ratio (DPR) is presently -420.00%.

Institutional Trading of Eagle Point Credit

A hedge fund recently bought a new stake in Eagle Point Credit stock. Creative Planning bought a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,551 shares of the investment management company's stock, valued at approximately $96,000. Institutional investors and hedge funds own 19.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ECC. Credit Suisse Group set a $7.50 price target on Eagle Point Credit in a research note on Thursday, May 29th. Keefe, Bruyette & Woods dropped their price objective on shares of Eagle Point Credit from $9.00 to $7.50 and set a "market perform" rating on the stock in a report on Thursday, May 29th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.