Ellington Financial (EFC) Rating Reiterated by Maxim Group

Ellington Financial (NYSE:EFC)‘s stock had its “buy” rating reiterated by research analysts at Maxim Group in a research note issued to investors on Wednesday. They currently have a $19.00 price objective on the financial services provider’s stock. Maxim Group’s price objective would suggest a potential upside of 27.09% from the company’s previous close.

The analysts wrote, “EFC reported 4Q17 EPS of $0.23, versus its $0.41 dividend. We are maintaining our 2018 EPS estimate of $1.61, and our price target of $19. Our price target equates to 1.0x book value. In our view, mortgage REITs such as EFC should not trade below a valuation level of 1.0x book value in the current environment.””

Other equities analysts have also issued research reports about the stock. Deutsche Bank cut their price objective on shares of Ellington Financial from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. B. Riley reaffirmed a “buy” rating and set a $16.00 price objective (down previously from $17.50) on shares of Ellington Financial in a research report on Wednesday, November 1st. Sandler O’Neill initiated coverage on shares of Ellington Financial in a research report on Wednesday, December 6th. They set a “buy” rating and a $17.00 price objective on the stock. ValuEngine raised shares of Ellington Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Keefe, Bruyette & Woods set a $17.00 price objective on shares of Ellington Financial and gave the company a “hold” rating in a research report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $17.25.

Shares of Ellington Financial (NYSE EFC) traded up $0.09 on Wednesday, reaching $14.95. 106,689 shares of the company traded hands, compared to its average volume of 110,322. The company has a market capitalization of $471.25, a price-to-earnings ratio of 17.01 and a beta of 0.36. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.90 and a current ratio of 3.90. Ellington Financial has a 52-week low of $14.19 and a 52-week high of $17.00.

Several large investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Ellington Financial by 24.0% in the second quarter. FMR LLC now owns 1,522,518 shares of the financial services provider’s stock valued at $24,680,000 after purchasing an additional 294,734 shares during the period. BBR Partners LLC increased its position in Ellington Financial by 45.9% during the fourth quarter. BBR Partners LLC now owns 1,208,757 shares of the financial services provider’s stock worth $17,539,000 after acquiring an additional 380,000 shares during the period. Ranger Global Real Estate Advisors LLC increased its position in Ellington Financial by 1.4% during the fourth quarter. Ranger Global Real Estate Advisors LLC now owns 686,512 shares of the financial services provider’s stock worth $9,961,000 after acquiring an additional 9,450 shares during the period. Global X MANAGEMENT CO LLC increased its position in Ellington Financial by 5.7% during the third quarter. Global X MANAGEMENT CO LLC now owns 526,255 shares of the financial services provider’s stock worth $8,310,000 after acquiring an additional 28,233 shares during the period. Finally, West Family Investments Inc. increased its position in Ellington Financial by 10.7% during the fourth quarter. West Family Investments Inc. now owns 489,584 shares of the financial services provider’s stock worth $7,104,000 after acquiring an additional 47,240 shares during the period. 44.36% of the stock is currently owned by institutional investors.

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About Ellington Financial

Ellington Financial LLC is a specialty finance company that acquires and manages mortgage-related and other financial assets. The Company’s targeted assets include residential mortgage-backed securities (RMBS), backed by loans for which the principal and interest payments are not guaranteed by a United States Government agency or a United States Government-sponsored entity, collectively referred to as non-Agency RMBS; RMBS for which the principal and interest payments are guaranteed by the United States government agency or the United States government-sponsored entity (Agency RMBS); consumer loans and asset-backed securities (ABS) backed by consumer loans; commercial mortgage-backed securities (CMBS) commercial mortgage loans and other commercial real estate debt; residential mortgage loans; collateralized loan obligations (CLOs); corporate debt and equity, including distressed debt and equity, and mortgage-related derivatives.

Analyst Recommendations for Ellington Financial (NYSE:EFC)

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