About Eagle Point Credit (NYSE:ECC)
Eagle Point Credit Company Inc. is a non-diversified, closed-end management investment company. The Company's primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. The Company primarily invests in equity and junior debt tranches of collateralized loan obligations (CLOs) that are collateralized by a portfolio consisting primarily of the below investment grade United States senior secured loans. It may also invest in other securities and instruments related to these investments. The Company's portfolio includes its investments in various industries, such as business equipment and services; healthcare; electronics/electrical; leisure goods/activities/movies; retailers (except food and drug); chemicals and plastics; telecommunications; financial intermediaries, and utilities. The Company's advisor is Eagle Point Credit Management LLC.
Industry, Sector and Symbol
Industry Private households
Trailing P/E Ratio9.69
Forward P/E Ratio10.01
Sales & Book Value
Annual Sales$65.29 million
Price / Sales5.24
Cash Flow$1.9189 per share
Price / Cash9.49
Book Value$17.64 per share
Price / Book1.03
EPS (Most Recent Fiscal Year)$1.88
Net Income$31.13 million
Return on Equity10.46%
Return on Assets7.06%
Eagle Point Credit (NYSE:ECC) Frequently Asked Questions
What is Eagle Point Credit's stock symbol?
Eagle Point Credit trades on the New York Stock Exchange (NYSE) under the ticker symbol "ECC."
How often does Eagle Point Credit pay dividends? What is the dividend yield for Eagle Point Credit?
Eagle Point Credit declared a monthly dividend on Wednesday, April 4th. Investors of record on Friday, May 11th will be given a dividend of $0.20 per share on Thursday, May 31st. This represents a $2.40 dividend on an annualized basis and a yield of 13.18%. The ex-dividend date is Thursday, May 10th. View Eagle Point Credit's Dividend History.
How were Eagle Point Credit's earnings last quarter?
Eagle Point Credit Co (NYSE:ECC) issued its quarterly earnings data on Thursday, February, 22nd. The investment management company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by $0.02. The investment management company had revenue of $16.60 million for the quarter, compared to analyst estimates of $16.40 million. Eagle Point Credit had a return on equity of 10.46% and a net margin of 47.68%. View Eagle Point Credit's Earnings History.
When is Eagle Point Credit's next earnings date?
What price target have analysts set for ECC?
4 brokers have issued twelve-month price objectives for Eagle Point Credit's stock. Their forecasts range from $20.00 to $24.00. On average, they expect Eagle Point Credit's share price to reach $21.1250 in the next year. View Analyst Ratings for Eagle Point Credit.
What are Wall Street analysts saying about Eagle Point Credit stock?
Here are some recent quotes from research analysts about Eagle Point Credit stock:
- 1. National Securities analysts commented, "• ECC offered $60.0 million of 6.675% 2028 notes with a $9.0 million overallotment option that we expect will be exercised in full by the underwriters. The proceeds from the notes will be used to redeem the $60.0 million of 7.00% 2020 notes outstanding. Eagle Point’s cost of capital has continued to decline materially and deservedly so, in our opinion.
• As the company has continued to perform well despite a challenging reinvestment environment for CLO managers and continues to add to its public track record the market has taken notice. ECC has borrowed for five years longer at 31 bps cheaper relative to its 2020 notes that were issued in 4Q15.
• We expect that the company decided to push out the term of its borrowings and lock in attractive financing in anticipation of credit spreads widening. In the event spreads do widen and the company taps debt markets again, it will likely be at a higher cost with a shorter duration (likely 5 years). We expect that the company will utilize a couple common equity offerings between now and the end of 2019, requiring only another 5-year note issuance of $50.0 million priced at 6.00% in 3Q19.
• ECC posted a portfolio update with its NAV/share estimate and earnings (NII + realized gains) per share estimates. The earnings per share estimate ranged from $0.48 - $0.52 for 1Q18, above our previous estimate of $0.46. As a reminder, last quarter, CLO equity purchases had a weighted average effective yield of 17.25% compared to weighted average yield on the existing CLO equity portfolio at cost of 14.42%, largely due to the rock bottom cost of CLO debt. We expect that this trend has continued as the average AAA discount margin in March fell to 97 bps from 106 bps in January 2018, according to Thomson Reuters LPC.
• We are revising our 2018 NII+realized gains/share estimate to $2.05 from $1.97 and our 2019 NII+realized gains/share estimate to $2.29 from $2.28. " (4/19/2018)
- 2. According to Zacks Investment Research, "Eagle Point Credit Company Inc. is an externally managed closed-end management investment company. Its primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. The Company invests primarily in equity and junior debt tranches of collateralized loan obligations (CLOs). Eagle Point Credit Company Inc. is based in United States. " (2/26/2018)
Who are some of Eagle Point Credit's key competitors?
Some companies that are related to Eagle Point Credit include Northgate (NGTEF), Ophir Energy (OPHRY), Oxford BioMedica (OXBDF), EnQuest (ENQUF), Pendragon (PDGNF), Zealand Pharma A/S (ZLDPF), SOCO International (SOCLF), WANdisco (WANSF), Zeltia (PHMMF), Premier Foods (PRRFY), Debenhams (DBHSY), Allied Minds (ALLWF), Capstone Mining (CSFFF), Countrywide (CYWDF), NicOx (NICXF), Parkson Retail Gro (PKSGY), Amerisur Resources (ASUXF) and Foxtons (FXTGY).
Who are Eagle Point Credit's key executives?
Eagle Point Credit's management team includes the folowing people:
- Kenneth P. Onorio, Chief Financial Officer, Chief Operating Officer (Age 49)
- Nauman S. Malik, Chief Compliance Officer, General Counsel (Age 36)
- Courtney B. Fandrick, Deputy Chief Compliance Officer, Secretary (Age 34)
- James R. Matthews, Chairperson of the Board (Age 49)
- Thomas P. Majewski, Chief Executive Officer, Director (Age 42)
- Scott W. Appleby, Independent Director (Age 52)
- Kevin F. McDonald, Independent Director (Age 51)
- Paul E. Tramontano, Independent Director (Age 55)
- Jeffrey L. Weiss, Independent Director (Age 56)
Has Eagle Point Credit been receiving favorable news coverage?
News headlines about ECC stock have trended somewhat positive on Thursday, Accern Sentiment reports. The research group identifies positive and negative media coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Eagle Point Credit earned a media sentiment score of 0.03 on Accern's scale. They also assigned press coverage about the investment management company an impact score of 45.42 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company's share price in the near term.
How do I buy shares of Eagle Point Credit?
Shares of ECC can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Eagle Point Credit's stock price today?
One share of ECC stock can currently be purchased for approximately $18.21.
How big of a company is Eagle Point Credit?
Eagle Point Credit has a market capitalization of $342.89 million and generates $65.29 million in revenue each year. The investment management company earns $31.13 million in net income (profit) each year or $1.88 on an earnings per share basis.
How can I contact Eagle Point Credit?
Eagle Point Credit's mailing address is 20 HORSENECK LANE, GREENWICH CT, 06830. The investment management company can be reached via phone at 203-862-3150 or via email at [email protected]
MarketBeat Community Rating for Eagle Point Credit (ECC)MarketBeat's community ratings are surveys of what our community members think about Eagle Point Credit and other stocks. Vote "Outperform" if you believe ECC will outperform the S&P 500 over the long term. Vote "Underperform" if you believe ECC will underperform the S&P 500 over the long term. You may vote once every thirty days.
Eagle Point Credit (NYSE:ECC) Dividend Information
Eagle Point Credit pays an annual dividend of $2.40 per share, with a dividend yield of 13.18%. ECC's next monthly dividend payment will be made on Thursday, May 31. Eagle Point Credit pays out 127.66% of its earnings out as a dividend.
|Dividend Growth:||0.00% (3 Year Average)|
|Payout Ratio:||127.66% (Trailing 12 Months of Earnings) |
131.87% (Based on This Year's Estimates)
117.65% (Based on Next Year's Estimates)
Eagle Point Credit (NYSE:ECC) Dividend History by Quarter
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Eagle Point Credit (NYSE ECC) Insider Trading and Institutional Ownership History
Insider Ownership Percentage: 0.49%
Institutional Ownership Percentage: 57.14%
Eagle Point Credit (NYSE ECC) Insider Trading History
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Shares Held After Transaction||Details|
|7/5/2017||Gary Richard Freeman||Director||Buy||4,500||$0.17||$765.00|
|9/1/2016||Kenneth P. Onorio||CFO||Buy||1,696||$17.75||$30,104.00|| |
|8/29/2016||Kenneth P. Onorio||CFO||Buy||1,726||$17.47||$30,153.22|| |
|6/21/2016||Thomas P Majewski||Portfolio Manager||Buy||1,000||$16.47||$16,470.00||52,000|| |
|6/20/2016||Daniel M Spinner||Portfolio Manager||Buy||1,887||$16.57||$31,267.59||26,570|| |
|6/20/2016||Kevin F Mcdonald||Director||Buy||1,450||$16.56||$24,012.00||4,000|| |
|3/18/2016||Daniel M Spinner||Portfolio Manager||Buy||235||$24.00||$5,640.00||235|| |
|3/16/2016||Thomas P Majewski||Portfolio Manager||Buy||1,000||$24.05||$24,050.00||2,000|| |
|3/15/2016||Kenneth P Onorio||CFO||Buy||1,600||$15.67||$25,072.00||5,848|| |
|3/3/2016||Gary Richard Freeman||Director||Buy||6,000||$0.19||$1,140.00|
|2/29/2016||Gary Richard Freeman||Director||Buy||50,000||$0.1750||$8,750.00|
|2/5/2016||Gary Richard Freeman||Director||Buy||16,000||$0.14||$2,240.00|
|2/2/2016||Gary Richard Freeman||Director||Buy||20,000||$0.1450||$2,900.00|
|2/1/2016||Gary Richard Freeman||Director||Buy||9,500||$0.1550||$1,472.50|
|12/31/2015||Gary Richard Freeman||Director||Buy||500||$0.1450||$72.50|
|12/22/2015||Gary Richard Freeman||Director||Buy||5,500||$0.1350||$742.50|
|12/21/2015||Gary Richard Freeman||Director||Buy||6,000||$0.1450||$870.00|
|12/18/2015||Gary Richard Freeman||Director||Buy||25,000||$0.1450||$3,625.00|
|12/15/2015||Kenneth P. Onorio||CFO||Buy||1,484||$17.00||$25,228.00||4,088|| |
|12/14/2015||Thomas P. Majewski||Portfolio Manager||Buy||1,000||$24.55||$24,550.00||1,000|| |
|12/2/2015||Gary Richard Freeman||Director||Buy||5,000||$0.15||$750.00|
|11/25/2015||Gary Richard Freeman||Director||Buy||21,500||$0.1450||$3,117.50|
|9/15/2015||Kenneth P. Onorio||CFO||Buy||1,260||$19.96||$25,149.60||2,515|| |
|7/6/2015||Gary Richard Freeman||Director||Buy||16,000||$0.13||$2,080.00|
|6/29/2015||Gary Richard Freeman||Director||Buy||5,000||$0.11||$550.00|
|6/16/2015||Daniel M Spinner||Portfolio Manager||Buy||1,300||$25.15||$32,695.00|| |
|6/15/2015||Daniel M Spinner||Portfolio Manager||Buy||300||$25.11||$7,533.00|| |
|6/15/2015||Gary Richard Freeman||Director||Buy||25,000||$0.14||$3,500.00|
|6/15/2015||Kenneth P Onorio||CFO||Buy||1,219||$20.66||$25,184.54|| |
|5/26/2015||Gary Richard Freeman||Director||Buy||5,000||$0.14||$700.00|
|5/25/2015||Gary Richard Freeman||Director||Buy||15,000||$0.14||$2,100.00|
|5/8/2015||Gary Richard Freeman||Director||Buy||10,000||$0.1550||$1,550.00|
|5/5/2015||Gary Richard Freeman||Director||Buy||1,000||$0.15||$150.00|
|5/4/2015||Gary Richard Freeman||Director||Buy||4,000||$0.16||$640.00|
|5/1/2015||Gary Richard Freeman||Director||Buy||12,000||$0.15||$1,800.00|
|4/17/2015||Gary Richard Freeman||Director||Buy||13,000||$0.13||$1,690.00|
|3/30/2015||Gary Richard Freeman||Director||Buy||5,000||$0.1450||$725.00|
|3/25/2015||Gary Richard Freeman||Director||Buy||2,500||$0.15||$375.00|
|3/17/2015||Gary Richard Freeman||Director||Buy||8,000||$0.14||$1,120.00|
|12/11/2014||Gary Richard Freeman||Director||Buy||10,000||$0.1250||$1,250.00|
|10/8/2014||Eagle Point Credit Management||Insider||Buy||100,000||$20.00||$2,000,000.00|| |
|10/8/2014||Jeffrey L Weiss||Director||Buy||12,500||$20.00||$250,000.00|| |
|10/8/2014||Thomas P Majewski||Portfolio Manager||Buy||17,588||$20.00||$351,760.00|| |
Eagle Point Credit (NYSE ECC) News Headlines
Eagle Point Credit (NYSE:ECC) SEC Filings
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Eagle Point Credit (NYSE:ECC) Income Statement, Balance Sheet and Cash Flow Statement
Eagle Point Credit (NYSE ECC) Stock Chart for Thursday, April, 19, 2018