Eagle Point Income (NYSE:EIC) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Eagle Point Income (NYSE:EICGet Free Report) announced its quarterly earnings data on Thursday. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03, Zacks reports.

Eagle Point Income Trading Down 1.1%

Shares of NYSE EIC traded down $0.13 during mid-day trading on Thursday, hitting $11.89. The company had a trading volume of 222,807 shares, compared to its average volume of 252,147. The firm’s 50 day simple moving average is $12.86 and its two-hundred day simple moving average is $13.28. Eagle Point Income has a 12 month low of $11.68 and a 12 month high of $16.39.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Eagle Point Income stock. Cetera Investment Advisers raised its stake in shares of Eagle Point Income Company Inc. (NYSE:EICFree Report) by 17.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,369 shares of the company’s stock after buying an additional 2,170 shares during the period. Cetera Investment Advisers’ holdings in Eagle Point Income were worth $196,000 as of its most recent SEC filing.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of Eagle Point Income from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. LADENBURG THALM/SH SH raised shares of Eagle Point Income to a “strong-buy” rating in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Check Out Our Latest Research Report on Eagle Point Income

About Eagle Point Income

(Get Free Report)

About Eagle Point Income Company 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, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.

Further Reading

Earnings History for Eagle Point Income (NYSE:EIC)

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