Brokerages Set Ellington Financial Inc (NYSE:EFC) Target Price at $17.00

Ellington Financial Inc (NYSE:EFC) has received an average rating of “Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $17.00.

Several equities analysts have weighed in on EFC shares. Zacks Investment Research raised Ellington Financial from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 9th. ValuEngine raised Ellington Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Maxim Group reaffirmed a “buy” rating and set a $15.00 target price on shares of Ellington Financial in a research note on Tuesday, May 12th. TheStreet cut Ellington Financial from a “c” rating to a “d+” rating in a research note on Friday, May 8th. Finally, B. Riley lowered their target price on Ellington Financial from $19.50 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th.

Several hedge funds and other institutional investors have recently made changes to their positions in EFC. BlackRock Inc. grew its stake in shares of Ellington Financial by 22.0% in the 1st quarter. BlackRock Inc. now owns 3,994,628 shares of the financial services provider’s stock valued at $22,808,000 after buying an additional 720,798 shares in the last quarter. Ranger Global Real Estate Advisors LLC lifted its holdings 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 worth $10,594,000 after purchasing an additional 616,957 shares during the last quarter. Marshall Wace LLP lifted its holdings in Ellington Financial by 147.4% in the 4th quarter. Marshall Wace LLP now owns 783,012 shares of the financial services provider’s stock worth $14,352,000 after purchasing an additional 466,521 shares during the last quarter. State Street Corp lifted its holdings in Ellington Financial by 59.1% in the 1st quarter. State Street Corp now owns 1,157,557 shares of the financial services provider’s stock worth $6,751,000 after purchasing an additional 430,170 shares during the last quarter. Finally, American Financial Group Inc. lifted its holdings in Ellington Financial by 26.5% in the 1st quarter. American Financial Group Inc. now owns 1,907,162 shares of the financial services provider’s stock worth $10,890,000 after purchasing an additional 400,000 shares during the last quarter. 60.57% of the stock is owned by institutional investors and hedge funds.

NYSE EFC traded down $0.29 on Friday, hitting $11.51. 533,362 shares of the company were exchanged, compared to its average volume of 495,981. The company’s 50 day moving average price is $10.85 and its 200-day moving average price is $13.69. The company has a debt-to-equity ratio of 4.08, a current ratio of 88.98 and a quick ratio of 88.98. The firm has a market capitalization of $503.91 million, a P/E ratio of -6.50 and a beta of 2.04. Ellington Financial has a twelve month low of $3.24 and a twelve month high of $19.12.

Ellington Financial (NYSE:EFC) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.13. The firm had revenue of $30.02 million for the quarter, compared to the consensus estimate of $24.52 million. Ellington Financial had a positive return on equity of 9.94% and a negative net margin of 55.19%. As a group, equities analysts expect that Ellington Financial will post 1.2 EPS for the current year.

The company also recently declared a monthly dividend, which will be paid on Monday, July 27th. Investors of record on Tuesday, June 30th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $1.08 annualized dividend and a dividend yield of 9.38%. Ellington Financial’s payout ratio is 17.58%.

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.

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