OFS Credit (NASDAQ:OCCI) Announces Quarterly Earnings Results

OFS Credit (NASDAQ:OCCI) issued its quarterly earnings results on Thursday. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.02), Zacks reports.

OFS Credit Price Performance

NASDAQ:OCCI opened at $2.36 on Friday. OFS Credit has a twelve month low of $2.15 and a twelve month high of $5.84. The company has a fifty day moving average of $2.51 and a 200-day moving average of $2.82. The firm has a market capitalization of $69.32 million, a P/E ratio of -1.93 and a beta of 0.72.

OFS Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be paid a $0.05 dividend. The ex-dividend date is Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 25.4%. OFS Credit’s payout ratio is currently -70.49%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of OFS Credit from a “sell” rating to a “hold” rating in a report on Sunday, June 21st.

OFS Credit Company Profile

OFS Credit Company, Inc is a closed-end investment company that seeks to generate current income and, to a lesser extent, capital appreciation by investing in collateralized loan obligations (CLOs). Its portfolio primarily consists of CLO equity and debt tranches, which are securities backed by pools of senior secured corporate loans.

The company’s investments generally provide exposure to corporate borrowers through the underlying loan portfolios rather than through direct lending by OFS Credit.