Ellington Financial (NYSE:EFC) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Ellington Financial (NYSE:EFC) issued its earnings results on Thursday. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.07, Zacks reports. Ellington Financial had a net margin of 106.40% and a return on equity of 10.26%.

Ellington Financial Stock Performance

Ellington Financial stock traded down $0.02 during trading hours on Thursday, reaching $13.32. 998,181 shares of the stock were exchanged, compared to its average volume of 934,717. The firm’s 50 day moving average is $12.56 and its 200 day moving average is $12.62. The company has a debt-to-equity ratio of 10.87, a quick ratio of 37.04 and a current ratio of 37.04. The stock has a market cap of $1.21 billion, a P/E ratio of 10.16 and a beta of 1.97. Ellington Financial has a 52-week low of $10.88 and a 52-week high of $13.46.

Ellington Financial Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, February 28th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.56 dividend on an annualized basis and a yield of 11.72%. Ellington Financial’s payout ratio is currently 119.08%.

Analyst Upgrades and Downgrades

EFC has been the subject of a number of recent research reports. B. Riley upgraded shares of Ellington Financial to a “strong-buy” rating in a research note on Tuesday, January 7th. JMP Securities reiterated a “market outperform” rating and set a $14.00 price target on shares of Ellington Financial in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.58.

About Ellington Financial

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