EAGLE POINT Cr/COM (ECC) Receives Average Recommendation of “Hold” from Analysts

Shares of EAGLE POINT Cr/COM (NYSE:ECC) have been given a consensus rating of “Hold” by the five analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $21.33.

Several research analysts have recently weighed in on ECC shares. National Securities reiterated a “buy” rating and set a $24.00 price target on shares of EAGLE POINT Cr/COM in a research note on Thursday, August 16th. ValuEngine upgraded EAGLE POINT Cr/COM from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd.

ECC stock opened at $17.31 on Friday. The firm has a market cap of $336.50 million, a PE ratio of 9.21 and a beta of 0.18. EAGLE POINT Cr/COM has a fifty-two week low of $16.19 and a fifty-two week high of $21.01.

EAGLE POINT Cr/COM (NYSE:ECC) last posted its quarterly earnings results on Tuesday, August 14th. The investment management company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.10. The company had revenue of $17.39 million during the quarter, compared to the consensus estimate of $18.10 million. EAGLE POINT Cr/COM had a return on equity of 10.44% and a net margin of 48.18%. On average, research analysts forecast that EAGLE POINT Cr/COM will post 1.69 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Monday, December 31st. Stockholders of record on Thursday, December 13th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, December 12th. This represents a $2.40 annualized dividend and a dividend yield of 13.86%. EAGLE POINT Cr/COM’s payout ratio is 127.66%.

Several hedge funds have recently bought and sold shares of the company. Centaurus Financial Inc. purchased a new stake in EAGLE POINT Cr/COM during the 2nd quarter worth about $208,000. Baird Financial Group Inc. lifted its holdings in EAGLE POINT Cr/COM by 18.3% during the 1st quarter. Baird Financial Group Inc. now owns 47,004 shares of the investment management company’s stock worth $853,000 after purchasing an additional 7,257 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in EAGLE POINT Cr/COM during the 2nd quarter worth about $484,000. Commonwealth Equity Services LLC purchased a new stake in EAGLE POINT Cr/COM during the 2nd quarter worth about $183,000. Finally, Millennium Management LLC purchased a new stake in EAGLE POINT Cr/COM during the 1st quarter worth about $399,000. Institutional investors own 45.77% of the company’s stock.

EAGLE POINT Cr/COM Company Profile

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.

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