Eagle Point Credit Co Inc (ECC)
NYSE NYSE Primary 
XFRA 
Eagle Point Credit: Common Shares Are Becoming Less Attractive Than Preferreds
Eagle Point Credit offers a unique opportunity to invest away from traditional stocks and bonds, focusing on CLO equity. ECC's Q2 earnings update shows significant developments, including a massive capital raise and declining net asset value. The CLO market is growing rapidly, presenting risks as outlined in a recent report from the Federal Reserve Board.
Great News For This Fat 18% Yield: ECC
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Eagle Point Credit Co LLC (ECC) Q2 2024 Earnings Call Transcript
Eagle Point Credit Co LLC (NYSE:ECC ) Q2 2024 Earnings Conference Call August 6, 2024 10:00 AM ET Company Participants Garrett Edson - ICR, Investor Relations Thomas Majewski - Chief Executive Officer Kenneth Onorio - Chief Financial Officer and Chief Operating Officer Conference Call Participants Mickey Schleien - Ladenburg Thalmann & Co. Inc. Mitchel Penn - Oppenheimer & Co. Inc. Matthew Howlett - B. Riley Securities, Inc. Paul Johnson - Keefe, Bruyette & Woods Steven Bavaria - Inside the Income Factory Operator Greetings.
Eagle Point (ECC) Misses Q2 Earnings and Revenue Estimates
Eagle Point (ECC) came out with quarterly earnings of $0.28 per share, missing the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.32 per share a year ago.
Picks And Themes In The CLO Sector
CLOs remain very popular investment vehicles and have seen sizable inflows recently, judging by the AUM of open-end funds. We highlight some of the dynamics and key themes in the CLO market that can help investors guide their allocations. Current CLO market themes include a lack of new loans, drop in credit spreads, strong demand for CLO exposure, and improvement in CLO portfolio quality.
Eagle Point Credit: Securing An 8% YTM With Its Baby Bonds
Eagle Point Credit Company offers preferred shares and baby bonds with good coverage ratios for dividends and interest payments. ECC's balance sheet shows strong financial health with ample common equity to cover potential losses, providing a buffer for senior securities. Investors may consider ECC's 2029 baby bonds for a higher yield to maturity of 8% compared to the 2031 term preferred stock's 8.55% yield.
Eagle Point Credit: Waiting On A Correction
Eagle Point Credit Co LLC operates as a closed-ended fund investing in collateralized loan obligations, with a particular focus on equity CLOs. ECC's return distribution relies heavily on dividends but has tail risk exposure. I'm concerned about certain economic variables, decreasing loan interest coverage ratios, and diminishing the cushion of over-collateralization.
Eagle Point Credit: Potential Interest Rate Cuts Can Provide Relief
Eagle Point Credit offers an exceptionally high 16.5% dividend yield that issues payments on a monthly basis. ECC provides exposure to Collateralized Loan Obligations through equity and debt investments. Interest rate cuts may serve as a catalyst for positive change in the market.
A Glorious And Mysterious 17% Yield: Eagle Point Credit
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Eagle Point Credit Company Q1: The Fund Continues To Deliver
Eagle Point Credit Company (ECC) is a unique closed-end fund that invests in collateralized loan obligations (CLOs). On May 21st, ECC reported first quarter earnings, with ample cash flow and a continuation of the fund's supplemental dividend for common shares. ECC's management team provided a positive market update for the CLO market, highlighting low default rates and strong performance of the leveraged loan index.
Eagle Point Credit Co LLC (ECC) Q1 2024 Earnings Call Transcript
Eagle Point Credit Co LLC (NYSE:ECC ) Q1 2024 Earnings Conference Call May 21, 2024 10:00 AM ET Company Participants Garrett Edson - ICR, IR Tom Majewski - CEO Ken Onorio - CFO & COO Conference Call Participants Mickey Schleien - Ladenburg Thalmann Operator Greetings, and welcome to the Eagle Point Credit Company First Quarter 2024 Financial Results Call. At this time, all participants are in a listen-only mode.
Eagle Point (ECC) Q1 Earnings and Revenues Lag Estimates
Eagle Point (ECC) came out with quarterly earnings of $0.29 per share, missing the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.32 per share a year ago.
