Ellington Financial LLC (NYSE:EFC) Stock Rating Upgraded by BidaskClub
Ellington Financial LLC (NYSE:EFC) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday.
A number of other brokerages also recently issued reports on EFC. FBR & Co reiterated a “buy” rating and issued a $17.50 price target on shares of Ellington Financial in a report on Monday, May 8th. Zacks Investment Research downgraded shares of Ellington Financial from a “hold” rating to a “sell” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $19.13.
Shares of Ellington Financial (EFC) traded down 0.18% during trading on Friday, hitting $16.22. 13,773 shares of the stock were exchanged. Ellington Financial has a 12-month low of $15.30 and a 12-month high of $18.04. The stock has a 50-day moving average of $16.20 and a 200 day moving average of $16.22. The stock has a market cap of $520.86 million, a P/E ratio of 23.64 and a beta of 0.44.
Ellington Financial (NYSE:EFC) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.06. The company had revenue of $22.66 million during the quarter, compared to analysts’ expectations of $21.82 million. Ellington Financial had a net margin of 26.67% and a return on equity of 5.48%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS. Equities analysts predict that Ellington Financial will post $1.33 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in EFC. Nine Chapters Capital Management LLC purchased a new stake in Ellington Financial during the second quarter valued at about $172,000. Hancock Holding Co. purchased a new stake in Ellington Financial during the first quarter valued at about $188,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Ellington Financial during the second quarter valued at about $216,000. Russell Investments Group Ltd. purchased a new stake in Ellington Financial during the second quarter valued at about $219,000. Finally, Wells Fargo & Company MN boosted its stake in Ellington Financial by 16.9% in the first quarter. Wells Fargo & Company MN now owns 21,534 shares of the financial services provider’s stock valued at $341,000 after buying an additional 3,109 shares in the last quarter. 51.12% of the stock is currently owned by institutional investors.
About Ellington Financial
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