Ellington Financial (EFC) Set to Announce Earnings on Tuesday

Ellington Financial (NYSE:EFC) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, August 6th. Analysts expect the company to announce earnings of $0.35 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Ellington Financial (NYSE:EFC) last announced its earnings results on Tuesday, May 7th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.07). Ellington Financial had a return on equity of 10.51% and a net margin of 66.65%. The company had revenue of $31.06 million for the quarter, compared to analyst estimates of $26.68 million. On average, analysts expect Ellington Financial to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Ellington Financial Price Performance

Shares of EFC stock traded up $0.12 during trading hours on Tuesday, reaching $12.94. 339,677 shares of the company were exchanged, compared to its average volume of 1,014,258. Ellington Financial has a fifty-two week low of $10.88 and a fifty-two week high of $13.69. The stock’s fifty day moving average is $12.32 and its two-hundred day moving average is $11.99. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 20.04 and a beta of 1.98. The company has a debt-to-equity ratio of 10.99, a current ratio of 46.79 and a quick ratio of 46.79.

Ellington Financial Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 26th. Stockholders of record on Wednesday, July 31st will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, July 31st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.06%. Ellington Financial’s payout ratio is 243.75%.

Insiders Place Their Bets

In other Ellington Financial news, CIO Michael W. Vranos sold 5,900 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $12.12, for a total value of $71,508.00. Following the sale, the executive now directly owns 179,655 shares in the company, valued at $2,177,418.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CIO Michael W. Vranos sold 5,900 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $12.12, for a total transaction of $71,508.00. Following the completion of the sale, the executive now owns 179,655 shares of the company’s stock, valued at $2,177,418.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CIO Michael W. Vranos sold 8,300 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $12.15, for a total transaction of $100,845.00. Following the sale, the executive now directly owns 160,874 shares of the company’s stock, valued at approximately $1,954,619.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,500 shares of company stock worth $272,866. Company insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EFC shares. BTIG Research cut their price objective on shares of Ellington Financial from $15.50 to $13.50 and set a “buy” rating on the stock in a report on Thursday, April 18th. Jonestrading started coverage on shares of Ellington Financial in a report on Friday, April 19th. They issued a “hold” rating on the stock. JMP Securities cut their price objective on shares of Ellington Financial from $14.50 to $14.00 and set a “market outperform” rating on the stock in a report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Ellington Financial from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $13.85.

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.