Ellington Credit (NYSE:EARN) Updates Q4 2024 Earnings Guidance

Ellington Credit (NYSE:EARN) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.260-0.280 for the period, compared to the consensus estimate of 0.300. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Ellington Credit from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

Ellington Credit Trading Down 0.4 %

Shares of EARN opened at $6.59 on Thursday. Ellington Credit has a 12 month low of $5.54 and a 12 month high of $7.26. The stock has a fifty day moving average price of $6.64 and a 200-day moving average price of $6.76. The firm has a market cap of $192.15 million, a PE ratio of 5.88 and a beta of 1.85.

Ellington Credit (NYSE:EARN) last issued its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Ellington Credit had a return on equity of 15.81% and a net margin of 226.01%. The business had revenue of $4.75 million during the quarter, compared to the consensus estimate of $7.55 million. During the same quarter last year, the company earned $0.21 earnings per share. As a group, research analysts forecast that Ellington Credit will post 1.17 EPS for the current year.

Ellington Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.96 dividend on an annualized basis and a yield of 14.58%. Ellington Credit’s payout ratio is 85.71%.

About Ellington Credit

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.