B. Riley Equities Analysts Decrease Earnings Estimates for Ellington Financial Inc. (NYSE:EFC)

Ellington Financial Inc. (NYSE:EFCFree Report) – B. Riley decreased their FY2024 earnings per share estimates for Ellington Financial in a report released on Tuesday, March 19th. B. Riley analyst M. Howlett now forecasts that the financial services provider will post earnings per share of $1.43 for the year, down from their previous estimate of $1.81. The consensus estimate for Ellington Financial’s current full-year earnings is $1.73 per share. B. Riley also issued estimates for Ellington Financial’s FY2025 earnings at $1.70 EPS.

Ellington Financial (NYSE:EFCGet Free Report) last issued its quarterly earnings data on Monday, February 26th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Ellington Financial had a return on equity of 11.36% and a net margin of 78.53%. The company had revenue of $27.99 million for the quarter, compared to the consensus estimate of $30.77 million. During the same quarter last year, the business earned $0.42 earnings per share.

A number of other brokerages also recently weighed in on EFC. Keefe, Bruyette & Woods lowered their target price on Ellington Financial from $14.00 to $13.25 and set an “outperform” rating for the company in a report on Wednesday, February 28th. UBS Group started coverage on Ellington Financial in a research note on Wednesday, December 6th. They issued a “neutral” rating and a $13.50 price objective for the company. Finally, StockNews.com raised Ellington Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.06.

Get Our Latest Research Report on Ellington Financial

Ellington Financial Trading Up 1.4 %

EFC stock traded up $0.16 during mid-day trading on Thursday, reaching $11.81. The company’s stock had a trading volume of 553,816 shares, compared to its average volume of 1,212,583. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 12.94 and a beta of 1.92. The business’s 50 day moving average price is $12.02 and its 200 day moving average price is $12.49. The company has a current ratio of 46.75, a quick ratio of 46.75 and a debt-to-equity ratio of 11.30. Ellington Financial has a 12 month low of $10.89 and a 12 month high of $14.21.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EFC. PNC Financial Services Group Inc. raised its stake in shares of Ellington Financial by 126.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider’s stock valued at $25,000 after buying an additional 759 shares during the period. Captrust Financial Advisors bought a new stake in shares of Ellington Financial in the second quarter valued at $33,000. Tower Research Capital LLC TRC raised its stake in shares of Ellington Financial by 100.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,835 shares of the financial services provider’s stock valued at $36,000 after buying an additional 1,424 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Ellington Financial in the third quarter valued at $45,000. Finally, Money Concepts Capital Corp bought a new stake in shares of Ellington Financial in the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 50.18% of the company’s stock.

Ellington Financial Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Friday, March 29th will be given a $0.13 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.56 annualized dividend and a yield of 13.21%. Ellington Financial’s dividend payout ratio is currently 200.00%.

Ellington Financial Company Profile

(Get Free Report)

Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime mortgage; RMBS for which the principal and interest payments are guaranteed by the U.S.

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