Zacks Investment Research upgraded shares of Ellington Financial LLC (NYSE:EFC) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning.
According to Zacks, “Ellington Financial LLC is a finance company that engages in acquiring and managing mortgage-related assets, including residential mortgage backed securities, prime jumbo, Alternative A-paper and subprime residential mortgage loans. The Company’s targeted assets also include mortgage-related derivatives, corporate debt and equity securities and derivatives. Ellington Financial LLC is headquartered in Old Greenwich, USA. “
A number of other research firms have also recently weighed in on EFC. Maxim Group restated a buy rating and issued a $20.00 price target on shares of Ellington Financial in a report on Monday. BidaskClub cut Ellington Financial from a sell rating to a strong sell rating in a report on Monday, July 31st. Finally, ValuEngine upgraded Ellington Financial from a hold rating to a buy rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $18.75.
Ellington Financial (NYSE:EFC) last released its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The firm had revenue of $22.66 million during the quarter, compared to analyst estimates of $21.82 million. Ellington Financial had a return on equity of 5.48% and a net margin of 26.67%. The business’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS.
TRADEMARK VIOLATION NOTICE: “Ellington Financial LLC (EFC) Upgraded at Zacks Investment Research” was published by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.com-unik.info/2017/10/12/ellington-financial-llc-efc-upgraded-at-zacks-investment-research.html.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 11.52%. The ex-dividend date of this dividend was Wednesday, August 30th. Ellington Financial’s dividend payout ratio (DPR) is presently 257.15%.
A number of large investors have recently made changes to their positions in EFC. Ranger Global Real Estate Advisors LLC acquired a new stake in Ellington Financial during the 1st quarter valued at $11,078,000. FMR LLC grew its holdings in Ellington Financial by 24.0% during the 2nd quarter. FMR LLC now owns 1,522,518 shares of the financial services provider’s stock valued at $24,680,000 after buying an additional 294,734 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Ellington Financial during the 2nd quarter valued at $1,245,000. HighTower Advisors LLC acquired a new stake in Ellington Financial during the 2nd quarter valued at $1,003,000. Finally, Acadian Asset Management LLC grew its holdings in Ellington Financial by 319.4% during the 2nd quarter. Acadian Asset Management LLC now owns 78,507 shares of the financial services provider’s stock valued at $1,272,000 after buying an additional 59,788 shares during the last quarter. Hedge funds and other institutional investors own 50.54% of the company’s stock.
Ellington Financial Company Profile
For more information about research offerings from Zacks Investment Research, visit Zacks.com
What are top analysts saying about Ellington Financial LLC? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Ellington Financial LLC and related companies.