Ellington Financial (NYSE:EFC) Issues Earnings Results

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

Ellington Financial Stock Performance

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

Ellington Financial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 13.1%. Ellington Financial’s dividend payout ratio (DPR) is presently 95.12%.

Analyst Ratings Changes

Several research analysts have recently issued reports on EFC shares. Zacks Research cut Ellington Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. UBS Group upped their target price on Ellington Financial from $14.00 to $14.50 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Piper Sandler dropped their target price 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 downgraded shares of Ellington Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Ellington Financial currently has an average rating of “Hold” and a consensus target price of $14.25.

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.