Streetbeat News

ECC

Eagle Point Credit Company Inc.

https://www.eaglepointcreditcompany.com

Industry

Asset Management

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. senior secured loans. Eagle Point Credit Company Inc. was formed on March 24, 2014 and is domiciled in the United States.

Open

8.96

Mkt cap

770M

Volume

562K

High

9.05

P/E Ratio

5.28

52-wk high

10.49

Low

8.89

Div yield

0.23

52-wk low

8.89

ECC's high dividend yield is unsustainable due to insufficient GAAP Net Investment Income and reliance on share issuances. The company's long-term returns are expected to be lower, assuming stable economic conditions and limited defaults.

Portfolio Pulse from

November 19, 2024 | 9:45 am

Eagle Point Credit's Series D Preferred shares are trading at a discount, offering an 8.5% yield. These shares are considered low-risk due to their priority in the capital stack and strong asset coverage. Potential positive catalysts include a soft landing, Fed rate cuts, and no new preferred issues.

Portfolio Pulse from

November 18, 2024 | 3:45 pm

Eagle Point Credit Co LLC (NYSE:ECC) held its Q3 2024 earnings conference call on November 14, 2024. Key participants included CEO Tom Majewski and CFO Ken Onorio. The call featured questions from analysts at Ladenburg Thalmann, B. Riley Securities, KBW, and KPG Funds.

Portfolio Pulse from

November 14, 2024 | 6:00 pm

Eagle Point Credit Company (ECC) reported Q3 earnings of $0.29 per share, surpassing the Zacks Consensus Estimate of $0.28. However, this is a decrease from the $0.34 per share reported a year ago.

Portfolio Pulse from

November 14, 2024 | 5:15 pm

Keefe, Bruyette & Woods analyst Paul Johnson maintains a Market Perform rating on Eagle Point Credit Co (NYSE:ECC) but lowers the price target from $10.5 to $10.