Wall Street brokerages predict that Ellington Financial Inc (NYSE:EFC) will post $22.37 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Ellington Financial’s earnings. The lowest sales estimate is $19.71 million and the highest is $25.02 million. Ellington Financial posted sales of $39.99 million in the same quarter last year, which would indicate a negative year over year growth rate of 44.1%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, November 4th.
According to Zacks, analysts expect that Ellington Financial will report full-year sales of $99.57 million for the current year, with estimates ranging from $88.21 million to $110.92 million. For the next year, analysts forecast that the company will post sales of $105.84 million, with estimates ranging from $94.51 million to $117.17 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Ellington Financial.
Ellington Financial (NYSE:EFC) last posted its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.24 by $0.15. Ellington Financial had a positive return on equity of 9.97% and a negative net margin of 43.08%. The firm had revenue of $24.60 million during the quarter, compared to analyst estimates of $21.16 million.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in Ellington Financial by 22.0% in the first quarter. BlackRock Inc. now owns 3,994,628 shares of the financial services provider’s stock worth $22,808,000 after purchasing an additional 720,798 shares during the period. Vanguard Group Inc. increased its stake in Ellington Financial by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,095,031 shares of the financial services provider’s stock worth $24,680,000 after buying an additional 195,911 shares during the period. American Financial Group Inc. lifted its holdings in Ellington Financial by 26.5% during the 1st quarter. American Financial Group Inc. now owns 1,907,162 shares of the financial services provider’s stock valued at $10,890,000 after buying an additional 400,000 shares in the last quarter. Ranger Global Real Estate Advisors LLC boosted its position in Ellington Financial by 49.8% in the 1st quarter. Ranger Global Real Estate Advisors LLC now owns 1,855,405 shares of the financial services provider’s stock valued at $10,594,000 after buying an additional 616,957 shares during the period. Finally, Kingstown Capital Management L.P. bought a new position in Ellington Financial in the 2nd quarter worth about $14,725,000. 63.97% of the stock is owned by institutional investors.
EFC traded up $0.06 during midday trading on Tuesday, reaching $12.56. The company had a trading volume of 432,500 shares, compared to its average volume of 730,291. The business has a 50-day moving average of $12.33 and a two-hundred day moving average of $11.13. The company has a quick ratio of 57.68, a current ratio of 57.68 and a debt-to-equity ratio of 3.14. Ellington Financial has a 1 year low of $3.24 and a 1 year high of $19.12. The company has a market cap of $547.23 million, a P/E ratio of -9.23 and a beta of 2.08.
The company also recently announced a monthly dividend, which will be paid on Monday, October 26th. Investors of record on Wednesday, September 30th will be given a $0.09 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 8.60%. Ellington Financial’s dividend payout ratio is currently 59.34%.
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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