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

Eagle Point Income (NYSE:EIC) issued its quarterly earnings results on Thursday. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.08), Zacks reports.

Eagle Point Income Trading Up 1.8 %

NYSE EIC traded up $0.29 during trading hours on Thursday, hitting $16.07. 126,824 shares of the company’s stock were exchanged, compared to its average volume of 237,253. The stock has a 50-day simple moving average of $15.72 and a 200 day simple moving average of $15.76. Eagle Point Income has a 1-year low of $14.78 and a 1-year high of $16.75.

Eagle Point Income Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 30th. Investors of record on Tuesday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.40 annualized dividend and a yield of 14.94%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EIC. LADENBURG THALM/SH SH raised Eagle Point Income to a “strong-buy” rating in a research note on Thursday, January 16th. B. Riley raised Eagle Point Income to a “strong-buy” rating in a research note 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.