Ellington Financial Inc. (NYSE:EFC) Forecasted to Post FY2023 Earnings of $1.59 Per Share

Ellington Financial Inc. (NYSE:EFC) – B. Riley cut their FY2023 earnings estimates for Ellington Financial in a research report issued on Wednesday, November 15th. B. Riley analyst M. Howlett now forecasts that the financial services provider will post earnings of $1.59 per share for the year, down from their prior forecast of $1.68. B. Riley has a “Buy” rating and a $15.00 price objective on the stock. The consensus estimate for Ellington Financial’s current full-year earnings is $1.69 per share. B. Riley also issued estimates for Ellington Financial’s Q1 2024 earnings at $0.42 EPS and Q4 2024 earnings at $0.49 EPS.

A number of other brokerages have also recently weighed in on EFC. StockNews.com assumed coverage on shares of Ellington Financial in a research note on Thursday, October 5th. They issued a “hold” rating for the company. JMP Securities restated a “market outperform” rating and issued a $14.50 price objective on shares of Ellington Financial in a research note on Friday, July 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.31.

Ellington Financial Price Performance

NYSE EFC opened at $12.94 on Thursday. The company has a 50 day moving average price of $12.63 and a two-hundred day moving average price of $12.98. The company has a quick ratio of 39.81, a current ratio of 39.81 and a debt-to-equity ratio of 12.48. Ellington Financial has a 12-month low of $10.81 and a 12-month high of $14.42. The stock has a market capitalization of $879.80 million, a PE ratio of 11.87 and a beta of 1.89.

Institutional Investors Weigh In On Ellington Financial

Large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its position in Ellington Financial by 8.6% during the 1st quarter. BlackRock Inc. now owns 11,559,525 shares of the financial services provider’s stock worth $141,142,000 after buying an additional 918,081 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Ellington Financial by 132.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,544,159 shares of the financial services provider’s stock valued at $21,309,000 after purchasing an additional 878,677 shares during the period. Balyasny Asset Management L.P. acquired a new position in Ellington Financial during the 1st quarter valued at about $4,465,000. Invesco Ltd. lifted its position in Ellington Financial by 32.2% during the 3rd quarter. Invesco Ltd. now owns 1,388,380 shares of the financial services provider’s stock valued at $17,313,000 after purchasing an additional 338,434 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Ellington Financial during the 1st quarter valued at about $4,913,000. Institutional investors own 50.18% of the company’s stock.

Ellington Financial Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 26th. Shareholders of record on Thursday, November 30th will be issued a $0.15 dividend. This represents a $1.80 annualized dividend and a yield of 13.92%. The ex-dividend date is Wednesday, November 29th. Ellington Financial’s dividend payout ratio (DPR) is presently 165.14%.

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 residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.