Eagle Point Income (NYSE:EIC) Issues Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Eagle Point Income (NYSE:EIC) issued its earnings results on Thursday. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08), Zacks reports. The business had revenue of $13.67 million for the quarter, compared to analysts’ expectations of $13.54 million.

Eagle Point Income Trading Up 0.3 %

EIC stock traded up $0.04 during mid-day trading on Friday, reaching $16.01. The company’s stock had a trading volume of 52,198 shares, compared to its average volume of 233,899. Eagle Point Income has a 12 month low of $14.78 and a 12 month high of $16.75. The business’s 50 day moving average price is $15.73 and its 200 day moving average price is $15.76.

Eagle Point Income Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be paid a $0.20 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.99%. The ex-dividend date is Tuesday, June 10th.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EIC. LADENBURG THALM/SH SH upgraded Eagle Point Income to a “strong-buy” rating in a research note on Thursday, January 16th. B. Riley upgraded Eagle Point Income to a “strong-buy” rating in a research report on Tuesday, January 7th.

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.