Ellington Financial (NYSE:EFC – Get a rating) had its price target reduced by investment analysts Credit Suisse Group to $17.00 in a report on Friday, Stock Target Advisor reports. Credit Suisse Group’s target price suggests a potential upside of 8.63% from the stock’s previous close.
Several other equity research analysts have also recently weighed in on EFC. Keefe, Bruyette & Woods downgraded Ellington Financial from an “outperforming” rating to a “market performing” rating and set a target price of $14.75 for the company. in a report on Monday. StockNews.com downgraded Ellington Financial from a “hold” rating to a “sell” rating in a Friday, May 6 research report. JMP Securities cut its price target on Ellington Financial from $20.00 to $17.50 and set a “market outperformance” rating for the company in a Thursday, June 16 research report. Piper Sandler cut her price target on Ellington Financial from $19.00 to $17.00 and set an “overweight” rating for the company in a Friday, June 24 research report. Finally, TheStreet downgraded Ellington Financial from a ‘b’ rating to a ‘c’ rating in a Friday May 6 research report. One equity research analyst has assigned the stock a sell rating, two have assigned a hold rating and two have assigned the stock a buy rating. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $16.85.
Ellington Financial shares down 0.8%
Shares of EFC traded down $0.12 during Friday’s midday session, hitting $15.65. The stock recorded trading volume of 846,063 shares, against an average volume of 755,533. Ellington Financial has a 12-month low of $12.74 and a 12-month high of $18.95. The company has a market capitalization of $939.72 million, a P/E ratio of 9.78 and a beta of 1.81. The company’s 50-day moving average is $15.03 and its two-hundred-day moving average is $16.49. The company has a debt ratio of 3.91, a current ratio of 39.86 and a quick ratio of 39.86.
Ellington Financial (NYSE:EFC – Get Rating) last released its results on Thursday, May 5. The financial services provider reported earnings per share of $0.40 for the quarter, missing the consensus estimate of $0.44 per ($0.04). Ellington Financial had a return on equity of 9.86% and a net margin of 63.71%. The company posted revenue of $37.06 million in the quarter, compared to $39.16 million expected by analysts. In the same quarter a year earlier, the company posted earnings per share of $0.43. On average, analysts expect Ellington Financial to post 1.77 earnings per share for the current fiscal year.
Institutional entries and exits
Hedge funds have recently increased or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in Ellington Financial by 126.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,359 shares of the financial services provider valued at $25,000 after buying an additional 759 shares last quarter. Quantbot Technologies LP acquired a new position in shares of Ellington Financial in the first quarter worth approximately $62,000. Fifth Third Bancorp increased its holdings of Ellington Financial shares by 19,707.7% in the fourth quarter. Fifth Third Bancorp now owns 5,150 shares of the financial services provider valued at $88,000 after purchasing an additional 5,124 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its equity stake in Ellington Financial by 82.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,245 shares of the financial services provider valued at $129,000 after purchasing an additional 3,277 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Ellington Financial in the second quarter valued at approximately $147,000. 59.15% of the shares are held by institutional investors and hedge funds.
Ellington Financial Company Profile
(Get a rating)
Ellington Financial Inc, through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage, consumer, corporate and other financial assets in the United States. The Company acquires and manages residential mortgage-backed securities (RMBS) backed by jumbo, Alt-A, pre-engineered and subprime residential mortgages; RMBS whose payment of principal and interest is guaranteed by the United States
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