Sandler O’Neill Analysts Give Ellington Financial (NYSE:EFC) a $19.00 Price Target

Ellington Financial (NYSE:EFC) has been assigned a $19.00 price objective by equities research analysts at Sandler O’Neill in a research report issued to clients and investors on Wednesday, August 8th. The firm presently has a “buy” rating on the financial services provider’s stock. Sandler O’Neill’s target price suggests a potential upside of 17.50% from the stock’s current price.

Several other equities research analysts have also recently weighed in on EFC. Zacks Investment Research raised shares of Ellington Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, April 18th. Maxim Group began coverage on shares of Ellington Financial in a research report on Tuesday, July 10th. They issued a “buy” rating and a $19.50 price target for the company. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $18.00 target price on shares of Ellington Financial in a research report on Wednesday, August 8th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $17.92.

NYSE:EFC traded down $0.26 during mid-day trading on Wednesday, hitting $16.17. 40,000 shares of the stock traded hands, compared to its average volume of 71,293. The company has a market capitalization of $504.44 million, a price-to-earnings ratio of 15.12 and a beta of 0.38. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.78. Ellington Financial has a 52 week low of $14.12 and a 52 week high of $16.84.

Ellington Financial (NYSE:EFC) last released its quarterly earnings data on Monday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.25. Ellington Financial had a net margin of 51.11% and a return on equity of 5.85%. The company had revenue of $33.04 million during the quarter, compared to analysts’ expectations of $29.09 million. equities analysts forecast that Ellington Financial will post 1.42 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Merriman Wealth Management LLC acquired a new stake in shares of Ellington Financial in the second quarter worth $179,000. GSA Capital Partners LLP acquired a new stake in shares of Ellington Financial in the first quarter worth $361,000. Wasatch Advisors Inc. increased its stake in shares of Ellington Financial by 138.6% in the first quarter. Wasatch Advisors Inc. now owns 36,500 shares of the financial services provider’s stock worth $541,000 after acquiring an additional 21,200 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Ellington Financial in the second quarter worth $693,000. Finally, FMR LLC increased its stake in shares of Ellington Financial by 4.2% in the second quarter. FMR LLC now owns 1,779,384 shares of the financial services provider’s stock worth $27,776,000 after acquiring an additional 71,500 shares during the period. Institutional investors and hedge funds own 46.77% 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.

Featured Story: How are Outstanding Shares Different from Authorized Shares?

Analyst Recommendations for Ellington Financial (NYSE:EFC)

Receive News & Ratings for Ellington Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ellington Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply