Ellington Financial Inc (NYSE:EFC) Receives $19.25 Consensus Target Price from Analysts

Ellington Financial Inc (NYSE:EFC) has received a consensus recommendation of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $19.25.

A number of research firms have weighed in on EFC. Zacks Investment Research raised shares of Ellington Financial from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a research report on Friday, July 19th. Maxim Group reissued a “buy” rating and set a $20.00 target price on shares of Ellington Financial in a research report on Thursday, July 4th.

Institutional investors and hedge funds have recently made changes to their positions in the company. Hilton Capital Management LLC acquired a new position in shares of Ellington Financial during the first quarter valued at about $45,000. Advisor Group Inc. grew its stake in shares of Ellington Financial by 114.6% during the fourth quarter. Advisor Group Inc. now owns 3,980 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 2,125 shares during the last quarter. Strs Ohio bought a new stake in shares of Ellington Financial during the second quarter valued at approximately $129,000. Marshall Wace North America L.P. bought a new stake in shares of Ellington Financial during the first quarter valued at approximately $175,000. Finally, Virtu Financial LLC bought a new stake in shares of Ellington Financial during the first quarter valued at approximately $189,000. 53.37% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE EFC traded down $0.04 during midday trading on Friday, hitting $17.19. 17,665 shares of the company’s stock were exchanged, compared to its average volume of 375,938. The company has a debt-to-equity ratio of 3.43, a quick ratio of 70.32 and a current ratio of 70.32. The business’s 50 day moving average is $18.00. The stock has a market cap of $511.79 million, a price-to-earnings ratio of 12.19 and a beta of 0.46. Ellington Financial has a twelve month low of $14.69 and a twelve month high of $18.50.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. The business had revenue of $36.02 million for the quarter, compared to analysts’ expectations of $37.71 million. Ellington Financial had a net margin of 28.85% and a return on equity of 8.19%. As a group, equities research analysts predict that Ellington Financial will post 1.71 earnings per share for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 26th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.14 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 9.77%. The ex-dividend date is Tuesday, July 30th. Ellington Financial’s dividend payout ratio is currently 119.15%.

Ellington Financial Company Profile

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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