Eagle Point Credit Company Inc. (NYSE:ECC – Get Free Report) announced a monthly dividend on Tuesday, May 12th. Shareholders of record on Tuesday, August 11th will be paid a dividend of 0.06 per share by the investment management company on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 18.5%. The ex-dividend date is Tuesday, August 11th.
Eagle Point Credit has raised its dividend by an average of 0.1%per year over the last three years. Eagle Point Credit has a payout ratio of 136.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Eagle Point Credit to earn $0.71 per share next year, which means the company may not be able to cover its $1.28 annual dividend with an expected future payout ratio of 180.3%.
Eagle Point Credit Stock Performance
Shares of ECC stock opened at $3.88 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.23 and a current ratio of 0.23. The firm has a market cap of $513.64 million, a P/E ratio of 5.80 and a beta of 0.36. The firm’s 50 day moving average price is $3.80 and its 200-day moving average price is $4.10. Eagle Point Credit has a one year low of $3.46 and a one year high of $7.77.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Zacks Research raised Eagle Point Credit from a “strong sell” rating to a “hold” rating in a research note on Friday, May 1st. Alliance Global Partners reissued a “buy” rating on shares of Eagle Point Credit in a research note on Wednesday, April 15th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Eagle Point Credit presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.50.
Get Our Latest Research Report on ECC
About Eagle Point Credit
Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.
The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.
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