Ellington Credit (NYSE:EARN) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Posted by Stephan Jacobs on Nov 13th, 2024

Ellington Credit (NYSE:EARN – Get Free Report) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01, Zacks reports. Ellington Credit had a return on equity of 17.20% and a net margin of 226.01%. The firm had revenue of $4.75 million during the quarter, compared to the consensus estimate of $7.55 million. During the same period last year, the company earned $0.21 earnings per share.

Ellington Credit Stock Performance

NYSE:EARN traded down $0.20 during trading hours on Wednesday, reaching $6.29. The stock had a trading volume of 579,518 shares, compared to its average volume of 324,034. Ellington Credit has a 52 week low of $5.54 and a 52 week high of $7.26. The company has a 50 day moving average price of $6.81 and a two-hundred day moving average price of $6.92. The stock has a market capitalization of $159.33 million, a PE ratio of 5.63 and a beta of 1.87.

Ellington Credit Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Friday, November 29th will be paid a $0.08 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 15.26%. The ex-dividend date of this dividend is Friday, November 29th. Ellington Credit’s payout ratio is 85.71%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Ellington Credit from a “hold” rating to a “sell” rating in a report on Tuesday.

Read Our Latest Report on Ellington Credit

Ellington Credit Company Profile

(Get Free Report)

Ellington Credit Company, a real estate investment trust, acquires, invests in, and manages residential mortgage-and real estate-related assets. It acquires and manages residential mortgage-backed securities (RMBS), including agency pools and agency collateralized mortgage obligations (CMOs); and non-agency RMBS, such as non-agency CMOs, such as investment grade and non-investment grade.