Media stories about Eagle Point Credit (NYSE:ECC) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Eagle Point Credit earned a media sentiment score of 0.12 on Accern’s scale. Accern also gave media coverage about the investment management company an impact score of 46.9717625287057 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Shares of Eagle Point Credit (NYSE ECC) opened at 20.00 on Friday. Eagle Point Credit has a 1-year low of $16.13 and a 1-year high of $22.11. The company has a 50-day moving average price of $20.83 and a 200-day moving average price of $20.53.
Eagle Point Credit (NYSE:ECC) last issued its quarterly earnings results on Tuesday, August 15th. The investment management company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.02. The business had revenue of $16.23 million for the quarter, compared to analyst estimates of $16.60 million. Eagle Point Credit had a return on equity of 10.56% and a net margin of 134.32%. Analysts forecast that Eagle Point Credit will post $2.04 earnings per share for the current year.
The company also recently announced a monthly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Friday, November 10th will be paid a $0.20 dividend. The ex-dividend date is Thursday, November 9th. This represents a $2.40 annualized dividend and a dividend yield of 12.00%. Eagle Point Credit’s payout ratio is presently 46.15%.
A number of equities research analysts recently weighed in on ECC shares. Ladenburg Thalmann Financial Services started coverage on Eagle Point Credit in a research note on Monday, September 25th. They issued a “buy” rating and a $20.50 price target on the stock. National Securities restated a “buy” rating and issued a $24.00 price target on shares of Eagle Point Credit in a research note on Wednesday, August 16th. Finally, Zacks Investment Research upgraded Eagle Point Credit from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $22.83.
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About Eagle Point Credit
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.
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