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

by · The Markets Daily

Ellington Financial (NYSE:EFC – Get Free Report) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.02), Zacks reports. Ellington Financial had a return on equity of 16.61% and a net margin of 52.43%. The company had revenue of $117.72 million for the quarter, compared to analyst estimates of $125.83 million.

Ellington Financial Stock Performance

Shares of EFC traded up $0.53 during trading hours on Wednesday, hitting $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 business has a 50 day simple moving average of $12.25 and a two-hundred day simple moving average of $12.87. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 7.24 and a beta of 1.01. Ellington Financial has a 52-week low of $11.27 and a 52-week high of $14.12. The company has a debt-to-equity ratio of 10.39, a current ratio of 52.06 and a quick ratio of 52.06.

Ellington Financial Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.56 annualized dividend and a yield of 13.1%. Ellington Financial’s dividend payout ratio (DPR) is 95.12%.

Wall Street Analyst Weigh In

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

View Our Latest Stock Analysis on EFC

Ellington Financial Company Profile

(Get Free Report)

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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