Shares of Ellington Financial Inc (NYSE:EFC) have been given an average recommendation of “Hold” by the six analysts that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $18.83.
EFC has been the subject of several recent research reports. Maxim Group restated a “buy” rating and set a $19.50 target price on shares of Ellington Financial in a report on Thursday, January 24th. B. Riley upgraded shares of Ellington Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $16.00 to $18.00 in a report on Thursday, February 14th. Finally, Zacks Investment Research cut shares of Ellington Financial from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th.
Shares of EFC opened at $18.14 on Friday. Ellington Financial has a 12 month low of $14.69 and a 12 month high of $18.46. The firm has a market cap of $540.78 million, a P/E ratio of 12.87 and a beta of 0.45. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 3.35.
Ellington Financial (NYSE:EFC) last announced its earnings results on Tuesday, May 7th. The financial services provider reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.08. Ellington Financial had a net margin of 28.85% and a return on equity of 8.13%. The business had revenue of $36.02 million during the quarter, compared to analysts’ expectations of $37.71 million. As a group, equities research analysts predict that Ellington Financial will post 1.66 EPS for the current year.
The company also recently declared a monthly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Friday, May 31st will be paid a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 9.26%. The ex-dividend date is Thursday, May 30th. Ellington Financial’s dividend payout ratio is currently 39.72%.
A number of hedge funds have recently made changes to their positions in EFC. BlackRock Inc. acquired a new stake in Ellington Financial in the first quarter valued at $37,000. Advisor Group Inc. lifted its stake in Ellington Financial by 114.6% in the fourth quarter. Advisor Group Inc. now owns 3,980 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 2,125 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Ellington Financial in the fourth quarter valued at $82,000. Essex Savings Bank acquired a new stake in Ellington Financial in the fourth quarter valued at $100,000. Finally, Virtu Financial LLC acquired a new stake in Ellington Financial in the first quarter valued at $189,000. Hedge funds and other institutional investors own 49.79% of the company’s stock.
About Ellington Financial
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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