Eagle Point Credit Company Inc. (ECC) To Go Ex-Dividend on February 9th

Eagle Point Credit Company Inc. (NYSE:ECC) declared a monthly dividend on Thursday, November 13th. Stockholders of record on Monday, February 9th will be given a dividend of 0.14 per share by the investment management company on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 28.8%. The ex-dividend date of this dividend is Monday, February 9th.

Eagle Point Credit has decreased its dividend payment by an average of 0.0%per year over the last three years. Eagle Point Credit has a payout ratio of 178.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Eagle Point Credit to earn $1.10 per share next year, which means the company may not be able to cover its $1.68 annual dividend with an expected future payout ratio of 152.7%.

Eagle Point Credit Stock Down 2.3%

Shares of ECC opened at $5.84 on Friday. The company has a market cap of $737.15 million, a PE ratio of 30.71 and a beta of 0.37. The business has a fifty day moving average of $6.48 and a 200 day moving average of $7.11. Eagle Point Credit has a 52-week low of $5.80 and a 52-week high of $9.53. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.32.

Eagle Point Credit (NYSE:ECC) last posted its quarterly earnings data on Thursday, November 13th. The investment management company reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. Eagle Point Credit had a net margin of 12.33% and a return on equity of 13.53%. The business had revenue of $52.00 million for the quarter, compared to analysts’ expectations of $50.86 million. On average, sell-side analysts expect that Eagle Point Credit will post 1.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ECC. LADENBURG THALM/SH SH raised shares of Eagle Point Credit to a “strong-buy” rating in a research report on Wednesday, August 13th. Industrial Alliance Securities set a $7.75 price target on Eagle Point Credit in a report on Thursday, September 18th. Craig Hallum initiated coverage on Eagle Point Credit in a report on Thursday, September 18th. They set a “buy” rating and a $7.75 price objective for the company. Alliance Global Partners initiated coverage on Eagle Point Credit in a research note on Thursday, September 18th. They issued a “buy” rating and a $7.75 target price on the stock. Finally, Zacks Research raised shares of Eagle Point Credit from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.21.

About Eagle Point Credit

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.