Ellington Financial (NYSE:EFC) Releases Earnings Results, Misses Estimates By $0.02 EPS

Ellington Financial (NYSE:EFC) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02), Zacks reports. The firm had revenue of $117.72 million for the quarter, compared to analysts’ expectations of $125.83 million. Ellington Financial had a net margin of 52.43% and a return on equity of 16.61%.

Ellington Financial Trading Up 4.7%

Shares of EFC traded up $0.53 during mid-day trading on Wednesday, reaching $11.87. The company’s stock had a trading volume of 2,294,513 shares, compared to its average volume of 1,838,683. The stock has a market cap of $1.53 billion, a PE ratio of 7.24 and a beta of 1.01. The company has a current ratio of 52.06, a quick ratio of 52.06 and a debt-to-equity ratio of 10.39. Ellington Financial has a 52 week low of $11.27 and a 52 week high of $14.12. The company’s fifty day moving average price is $12.25 and its two-hundred day moving average price is $12.87.

Ellington Financial Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.56 annualized dividend and a dividend yield of 13.1%. Ellington Financial’s dividend payout ratio (DPR) is 95.12%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Zacks Research downgraded shares of Ellington Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. UBS Group increased their target price on Ellington Financial from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Wednesday, August 19th. Piper Sandler lowered their price target on Ellington Financial from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Finally, Weiss Ratings lowered Ellington Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $14.25.

Ellington Financial Company Profile

Ellington Financial Inc is a real estate investment trust (REIT) that acquires, invests in and manages a portfolio of mortgage-related and other financial assets. The company focuses primarily on residential and commercial mortgage loans, mortgage-backed securities and related investments.

Its investment activities may include agency and non-agency residential mortgage-backed securities, commercial mortgage-backed securities, residential and commercial mortgage loans, mortgage servicing rights and consumer loans.