Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Eagle Point Credit (ECC) Share Price
Media stories about Eagle Point Credit (NYSE:ECC) have trended somewhat positive on Wednesday, according to Accern Sentiment. The research firm rates the sentiment of news coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Eagle Point Credit earned a media sentiment score of 0.19 on Accern’s scale. Accern also assigned media stories about the investment management company an impact score of 45.1966742631067 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Shares of Eagle Point Credit (NYSE ECC) opened at $18.12 on Wednesday. Eagle Point Credit has a 12-month low of $17.28 and a 12-month high of $22.11. The firm has a market cap of $335.49, a PE ratio of 7.19 and a beta of 0.21. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.25 and a current ratio of 3.25.
Eagle Point Credit (NYSE:ECC) last announced its quarterly earnings results on Tuesday, November 14th. The investment management company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). Eagle Point Credit had a net margin of 65.86% and a return on equity of 10.73%. equities research analysts anticipate that Eagle Point Credit will post 1.9 EPS for the current year.
A number of brokerages have weighed in on ECC. National Securities reiterated a “buy” rating and set a $24.00 price target on shares of Eagle Point Credit in a research report on Monday, January 22nd. CIBC dropped their price target on shares of Eagle Point Credit from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, November 15th. Zacks Investment Research upgraded shares of Eagle Point Credit from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, Oppenheimer dropped their price target on shares of Eagle Point Credit from $24.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Eagle Point Credit currently has an average rating of “Buy” and a consensus target price of $21.13.
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Eagle Point Credit Company Profile
Eagle Point Credit Company Inc 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. The Company primarily invests in equity and junior debt tranches of collateralized loan obligations (CLOs) that are collateralized by a portfolio consisting primarily of the below investment grade United States senior secured loans.
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