Ellington Financial Inc. (NYSE:EFC) Receives $14.06 Consensus PT from Analysts

Ellington Financial Inc. (NYSE:EFC) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $13.95.

EFC has been the topic of several research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $14.50 target price on shares of Ellington Financial in a research report on Thursday. BTIG Research decreased their target price on shares of Ellington Financial from $15.50 to $13.50 and set a “buy” rating on the stock in a research report on Thursday. StockNews.com cut shares of Ellington Financial from a “hold” rating to a “sell” rating in a research report on Wednesday. Jonestrading began coverage on shares of Ellington Financial in a research report on Friday. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Ellington Financial from $14.00 to $13.25 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th.

Hedge Funds Weigh In On Ellington Financial

Several institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its holdings in 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 worth $25,000 after purchasing an additional 759 shares during the period. Captrust Financial Advisors acquired a new stake in Ellington Financial in the 2nd quarter valued at about $33,000. Tower Research Capital LLC TRC lifted its holdings in Ellington Financial by 65.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,742 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,086 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Ellington Financial in the 1st quarter valued at about $62,000. Finally, Qube Research & Technologies Ltd acquired a new stake in Ellington Financial in the 3rd quarter valued at about $45,000. Institutional investors own 55.62% of the company’s stock.

Ellington Financial Stock Up 1.3 %

EFC stock opened at $11.42 on Thursday. Ellington Financial has a one year low of $10.88 and a one year high of $14.21. The stock has a market capitalization of $971.39 million, a PE ratio of 12.69 and a beta of 1.92. The company has a debt-to-equity ratio of 11.30, a quick ratio of 46.75 and a current ratio of 46.75. The company has a fifty day moving average of $11.53 and a 200-day moving average of $12.26.

Ellington Financial (NYSE:EFC) last announced its quarterly earnings data on Monday, February 26th. The financial services provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). Ellington Financial had a net margin of 78.53% and a return on equity of 11.36%. The company had revenue of $27.99 million during the quarter, compared to analyst estimates of $30.77 million. During the same quarter last year, the business earned $0.42 EPS. As a group, analysts expect that Ellington Financial will post 1.53 EPS for the current year.

Ellington Financial Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.13 per share. The ex-dividend date is Monday, April 29th. This represents a $1.56 annualized dividend and a yield of 13.66%. Ellington Financial’s payout ratio is 173.34%.

About Ellington Financial

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.