EAGLE POINT CR/COM (NYSE:ECC) – Research analysts at B. Riley cut their Q1 2020 earnings per share estimates for EAGLE POINT CR/COM in a research note issued on Monday, March 23rd. B. Riley analyst R. Binner now anticipates that the investment management company will post earnings per share of $0.29 for the quarter, down from their previous estimate of $0.33. B. Riley has a “Buy” rating and a $11.00 price objective on the stock. B. Riley also issued estimates for EAGLE POINT CR/COM’s FY2020 earnings at $1.10 EPS and FY2021 earnings at $1.10 EPS.
A number of other analysts have also issued reports on ECC. ValuEngine raised EAGLE POINT CR/COM from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. LADENBURG THALM/SH SH raised EAGLE POINT CR/COM from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Monday, December 9th.
EAGLE POINT CR/COM (NYSE:ECC) last released its quarterly earnings data on Thursday, February 27th. The investment management company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.14). The business had revenue of $14.76 million during the quarter, compared to the consensus estimate of $17.90 million.
The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 12th will be given a dividend of $0.20 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 30.04%. The ex-dividend date of this dividend is Wednesday, March 11th. EAGLE POINT CR/COM’s payout ratio is 179.10%.
In other news, Portfolio Manager Daniel M. Spinner purchased 536,875 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was acquired at an average cost of $10.09 per share, for a total transaction of $5,417,068.75. Also, Portfolio Manager Thomas P. Majewski purchased 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was purchased at an average price of $13.93 per share, with a total value of $696,500.00. 0.47% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of ECC. Millennium Management LLC acquired a new position in EAGLE POINT CR/COM in the third quarter worth about $209,000. Wedbush Securities Inc. grew its stake in EAGLE POINT CR/COM by 6.5% in the fourth quarter. Wedbush Securities Inc. now owns 88,664 shares of the investment management company’s stock worth $1,295,000 after purchasing an additional 5,438 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in EAGLE POINT CR/COM by 13.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 25,148 shares of the investment management company’s stock worth $367,000 after purchasing an additional 2,970 shares in the last quarter. B. Riley Financial Inc. acquired a new position in EAGLE POINT CR/COM in the fourth quarter worth about $3,068,000. Finally, Tower Research Capital LLC TRC acquired a new position in EAGLE POINT CR/COM in the fourth quarter worth about $56,000. Institutional investors and hedge funds own 34.69% 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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