Ellington Financial Inc. (NYSE:EFC) Receives $14.06 Average Price Target from Brokerages

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

EFC has been the topic of a number of analyst reports. StockNews.com downgraded shares of Ellington Financial from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. Jonestrading initiated coverage on shares of Ellington Financial in a report on Friday, April 19th. They set a “hold” rating on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Ellington Financial from $14.00 to $13.25 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. JMP Securities reaffirmed a “market outperform” rating and set a $14.50 price objective on shares of Ellington Financial in a report on Thursday, April 18th. Finally, BTIG Research reduced their price target on shares of Ellington Financial from $15.50 to $13.50 and set a “buy” rating for the company in a research report on Thursday, April 18th.

Ellington Financial Stock Performance

Shares of EFC stock opened at $11.55 on Thursday. The company has a current ratio of 46.75, a quick ratio of 46.75 and a debt-to-equity ratio of 11.30. The firm has a market capitalization of $982.02 million, a PE ratio of 12.83 and a beta of 1.92. The firm has a fifty day simple moving average of $11.51 and a two-hundred day simple moving average of $12.25. Ellington Financial has a 12 month low of $10.88 and a 12 month high of $14.21.

Ellington Financial (NYSE:EFC) last posted 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). The firm had revenue of $27.99 million for the quarter, compared to analysts’ expectations of $30.77 million. Ellington Financial had a return on equity of 11.36% and a net margin of 78.53%. During the same period in the prior year, the firm earned $0.42 earnings per share. Analysts forecast that Ellington Financial will post 1.53 EPS for the current fiscal year.

Ellington Financial Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, May 28th. Investors of record on Tuesday, April 30th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.56 annualized dividend and a yield of 13.51%. Ellington Financial’s payout ratio is currently 173.34%.

Hedge Funds Weigh In On Ellington Financial

Several institutional investors have recently added to or reduced their stakes in EFC. Global Retirement Partners LLC bought a new position in Ellington Financial during the first quarter worth about $27,000. Tower Research Capital LLC TRC boosted its position in Ellington Financial by 100.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,835 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 1,424 shares during the period. PNC Financial Services Group Inc. boosted its position in Ellington Financial by 35.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,757 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 992 shares during the period. Private Trust Co. NA boosted its position in Ellington Financial by 42.8% during the fourth quarter. Private Trust Co. NA now owns 4,334 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 1,299 shares during the period. Finally, SG Americas Securities LLC bought a new position in Ellington Financial during the fourth quarter worth about $102,000. Institutional investors own 55.62% of the company’s stock.

Ellington Financial Company Profile

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.