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

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

Eagle Point Income Stock Performance

Shares of NYSE EIC opened at $15.96 on Friday. Eagle Point Income has a 1 year low of $14.78 and a 1 year high of $16.75. The company has a 50 day simple moving average of $15.74 and a 200-day simple moving average of $15.76.

Eagle Point Income Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.