TheStreet upgraded shares of Ellington Financial (NYSE:EFC) from a c rating to a b rating in a research report sent to investors on Wednesday.
A number of other research firms have also issued reports on EFC. Zacks Investment Research upgraded shares of Ellington Financial from a hold rating to a buy rating and set a $18.00 target price on the stock in a report on Thursday, August 9th. Keefe, Bruyette & Woods restated a hold rating and issued a $18.00 target price on shares of Ellington Financial in a report on Wednesday, August 8th. Sandler O’Neill set a $19.00 target price on shares of Ellington Financial and gave the company a buy rating in a report on Wednesday, August 8th. Finally, Maxim Group assumed coverage on shares of Ellington Financial in a report on Tuesday, July 10th. They set a buy rating and a $19.50 price objective on the stock. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Ellington Financial presently has a consensus rating of Hold and a consensus target price of $17.92.
NYSE:EFC opened at $15.37 on Wednesday. The stock has a market capitalization of $463.44 million, a price-to-earnings ratio of 13.48 and a beta of 0.40. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.66 and a current ratio of 1.66. Ellington Financial has a 12-month low of $14.12 and a 12-month high of $16.84.
Ellington Financial (NYSE:EFC) last released its earnings results on Monday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.25. The company had revenue of $33.04 million for the quarter, compared to analyst estimates of $29.09 million. Ellington Financial had a net margin of 51.11% and a return on equity of 5.85%. Analysts forecast that Ellington Financial will post 1.42 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.64 annualized dividend and a dividend yield of 10.67%. Ellington Financial’s payout ratio is currently 151.85%.
Hedge funds have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Ellington Financial during the 3rd quarter worth about $172,000. Merriman Wealth Management LLC purchased a new position in shares of Ellington Financial during the 2nd quarter worth about $179,000. Stockman Wealth Management Inc. lifted its holdings in shares of Ellington Financial by 55.2% during the 3rd quarter. Stockman Wealth Management Inc. now owns 25,300 shares of the financial services provider’s stock worth $405,000 after acquiring an additional 9,000 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Ellington Financial during the 2nd quarter worth about $693,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of Ellington Financial by 170.7% during the 2nd quarter. GSA Capital Partners LLP now owns 65,935 shares of the financial services provider’s stock worth $1,029,000 after acquiring an additional 41,582 shares during the period. Institutional investors and hedge funds own 46.31% of the company’s stock.
Ellington Financial Company Profile
Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.
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