Can Eagle Point Stock Keep Up This Year's Momentum After Earnings?

Eagle Point Credit Company recently announced dates for dividend payments

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Eagle Point Credit Company Inc (NYSE: ECC) is an investment management company. ECC's primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation. Eagle Point also invests primarily in equity and junior debt tranches of collateralized loan obligations.

On Wednesday, Nov. 10, Eagle Point Credit Company declared three separate dividend payments of $0.12, payable on Jan. 31, Feb. 8, and March 11 of 2022. ECC offers a forward dividend of $1.44, with a dividend yield of 10.02%.

Eagle Point stock has cruised higher over the past year, with its 100-day moving average capturing two of its bigger pullbacks, while the 30-day moving average has provided more immediate support. The trendline is acting as a solid floor for ECC's recent retreat from its Nov. 8, two-year high of $14.97. Year-to-date, the security is up 43.6%. 

ecc nov 15

The firm is scheduled to report its third quarter earnings before the open tomorrow, Nov. 16. Wall Street analysts expect that the investment management company will report earnings of $0.34 in tomorrow's earnings report.

Moreover, Eagle Point stock offers very little security with regards to its fundamentals. ECC posted two consecutive years of considerable revenue declines between fiscal 2017 and fiscal 2019. The firm also reported a significant decrease in net income for fiscal 2018. On top of that, ECC has $4.7 million in cash and $92.79 million in total debt on the company's balance sheet. Nonetheless, with a forward price-earnings ratio of 10.05 and a dividend yield of 10.02%, Eagle Point stock is amongst the best return-for-value dividend stocks available in the market at the moment. Overall, ECC offers an incredible return for the more risk-averse investors.

 

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