Eagle Point Credit (NYSE:ECC) Upgraded at LADENBURG THALM/SH SH

Key Points

• Eagle Point Credit (NYSE:ECC) has been upgraded to a "strong-buy" rating by analysts at LADENBURG THALM/SH SH, indicating increased confidence in the stock's potential growth.
• The company's recent quarterly earnings report showed $0.28 earnings per share, exceeding analysts' expectations of $0.26, demonstrating stronger-than-expected performance.
• Despite the upgrade, the stock is currently trading down 2.4% at $6.67, with a market cap of $513.18 million and a 1-year trading range of $6.00 to $10.06.

Eagle Point Credit (NYSE:ECC - Get Free Report) was upgraded by stock analysts at LADENBURG THALM/SH SH to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

ECC has been the topic of a number of other research reports. Credit Suisse Group set a $7.50 price objective on Eagle Point Credit in a research report on Thursday, May 29th. Keefe, Bruyette & Woods lowered their price objective on Eagle Point Credit from $9.00 to $7.50 and set a "market perform" rating on the stock in a research report on Thursday, May 29th.

Eagle Point Credit Trading Down 2.4%

NYSE:ECC opened at $6.67 on Wednesday. The company has a market cap of $513.18 million, a P/E ratio of 60.63 and a beta of 0.38. The stock's fifty day moving average price is $7.32 and its two-hundred day moving average price is $7.81. Eagle Point Credit has a 1 year low of $6.00 and a 1 year high of $10.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.23 and a quick ratio of 2.23.

Eagle Point Credit (NYSE:ECC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.02. Eagle Point Credit had a return on equity of 13.49% and a net margin of 6.73%. The company had revenue of $52.30 million for the quarter, compared to the consensus estimate of $53.54 million. As a group, analysts expect that Eagle Point Credit will post 1.1 EPS for the current year.

Institutional Trading of Eagle Point Credit

Several large investors have recently modified their holdings of the business. AdvisorNet Financial Inc bought a new stake in Eagle Point Credit during the 1st quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC bought a new stake in shares of Eagle Point Credit in the 2nd quarter worth approximately $25,000. IFP Advisors Inc bought a new stake in shares of Eagle Point Credit in the 2nd quarter worth approximately $28,000. Cape Investment Advisory Inc. boosted its position in shares of Eagle Point Credit by 91.2% in the 1st quarter. Cape Investment Advisory Inc. now owns 3,592 shares of the investment management company's stock worth $29,000 after purchasing an additional 1,713 shares in the last quarter. Finally, NBC Securities Inc. bought a new stake in shares of Eagle Point Credit in the 1st quarter worth approximately $32,000. 19.50% of the stock is owned by institutional investors.

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.

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.