Eagle Point Credit Company Inc. to Issue Monthly Dividend of $0.20 (ECC)
Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Tuesday, October 3rd, Wall Street Journal reports. Shareholders of record on Tuesday, December 12th will be paid a dividend of 0.20 per share by the investment management company on Friday, December 29th. This represents a $2.40 annualized dividend and a dividend yield of 11.43%. The ex-dividend date of this dividend is Monday, December 11th.
Eagle Point Credit (NYSE ECC) traded up 0.0949% during midday trading on Tuesday, hitting $20.9899. The stock had a trading volume of 41,003 shares. Eagle Point Credit has a one year low of $16.13 and a one year high of $22.11. The stock has a 50-day moving average price of $20.65 and a 200 day moving average price of $20.43.
Eagle Point Credit (NYSE:ECC) last announced its quarterly earnings data on Tuesday, August 15th. The investment management company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $16.23 million for the quarter, compared to the consensus estimate of $16.60 million. On average, equities research analysts anticipate that Eagle Point Credit will post $2.04 earnings per share for the current fiscal year.
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A number of equities analysts have commented on the company. Ladenburg Thalmann Financial Services assumed coverage on Eagle Point Credit in a research note on Monday, September 25th. They issued a “buy” rating and a $20.50 target price for the company. Zacks Investment Research cut Eagle Point Credit from a “hold” rating to a “sell” rating in a research report on Tuesday, August 29th. Finally, National Securities reissued a “buy” rating and issued a $24.00 price target on shares of Eagle Point Credit in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $22.83.
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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