Ellington Financial (NYSE:EFC – Get Free Report) posted its earnings results on Wednesday. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.02), Zacks reports. The firm had revenue of $117.72 million during the quarter, compared to the consensus estimate of $125.83 million. Ellington Financial had a return on equity of 16.61% and a net margin of 52.43%.
Ellington Financial Price Performance
Shares of Ellington Financial stock traded down $0.40 during trading on Thursday, reaching $11.46. The company’s stock had a trading volume of 1,350,825 shares, compared to its average volume of 1,618,760. The stock has a 50-day moving average price of $12.25 and a two-hundred day moving average price of $12.87. The stock has a market capitalization of $1.48 billion, a P/E ratio of 6.95 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 one year low of $11.27 and a one year high of $14.12.
Ellington Financial Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, October 30th will be issued a $0.13 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date of this dividend is Friday, October 30th. Ellington Financial’s payout ratio is currently 95.12%.
Analyst Ratings Changes
EFC has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of Ellington Financial from $14.00 to $14.50 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Zacks Research lowered shares of Ellington Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Piper Sandler cut their target price on shares of Ellington Financial from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, October 9th. Finally, Weiss Ratings downgraded Ellington Financial from a “hold (c)” rating to a “hold (c-)” rating in a report 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’s stock. According to data from MarketBeat, Ellington Financial has a consensus rating of “Hold” and a consensus target price of $14.25.
Read Our Latest Research Report on EFC
About Ellington Financial
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.
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