Eagle Point Income (NYSE:EIC) Announces Earnings Results, Misses Expectations By $0.20 EPS

Eagle Point Income (NYSE:EIC) released its quarterly earnings results on Wednesday. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.20), Zacks reports.

Eagle Point Income Trading Down 11.5%

EIC stock traded down $1.70 during trading on Wednesday, hitting $13.07. The company had a trading volume of 1,042,358 shares, compared to its average volume of 211,183. Eagle Point Income has a 52-week low of $12.73 and a 52-week high of $16.71. The company has a 50 day simple moving average of $14.32 and a 200-day simple moving average of $15.22.

Eagle Point Income Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 13th will be paid a dividend of $0.20 per share. This represents a dividend yield of 16.51%. The ex-dividend date of this dividend is Monday, May 12th.

Eagle Point Income Company Profile

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.