Eagle Point Income (NYSE:EIC) Posts Earnings Results

Eagle Point Income (NYSE:EIC) posted 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 during the quarter, compared to analysts’ expectations of $13.54 million.

Eagle Point Income Stock Down 0.1 %

Shares of EIC stock opened at $15.96 on Friday. The stock’s 50-day moving average price is $15.74 and its 200-day moving average price is $15.76. Eagle Point Income has a 12-month low of $14.78 and a 12-month high of $16.75.

Eagle Point Income Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Tuesday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.40 annualized dividend and a dividend yield of 15.04%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. B. Riley upgraded Eagle Point Income to a “strong-buy” rating in a research note on Tuesday, January 7th. LADENBURG THALM/SH SH upgraded Eagle Point Income to a “strong-buy” rating in a research note on Thursday, January 16th.

About Eagle Point Income

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.