Ellington Financial (NYSE:EFC) Earns Market Outperform Rating from JMP Securities

Ellington Financial (NYSE:EFC)‘s stock had its “market outperform” rating reaffirmed by investment analysts at JMP Securities in a research note issued to investors on Thursday,Benzinga reports. They currently have a $14.00 price target on the financial services provider’s stock. JMP Securities’ target price indicates a potential upside of 11.60% from the company’s current price.

Separately, B. Riley upgraded shares of Ellington Financial to a “strong-buy” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Ellington Financial currently has an average rating of “Moderate Buy” and a consensus target price of $13.58.

Ellington Financial Trading Up 0.8 %

Shares of EFC stock opened at $12.55 on Thursday. The company has a quick ratio of 37.04, a current ratio of 37.04 and a debt-to-equity ratio of 10.87. The firm has a market cap of $1.14 billion, a P/E ratio of 9.58 and a beta of 1.97. The company has a 50 day moving average of $12.30 and a 200-day moving average of $12.61. Ellington Financial has a 12-month low of $10.88 and a 12-month high of $13.46.

Ellington Financial (NYSE:EFC) last released its earnings results on Wednesday, November 6th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Ellington Financial had a return on equity of 10.26% and a net margin of 106.40%. The business had revenue of $33.63 million during the quarter, compared to the consensus estimate of $37.95 million. During the same period last year, the business posted $0.33 earnings per share. Sell-side analysts anticipate that Ellington Financial will post 1.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. McIlrath & Eck LLC purchased a new stake in shares of Ellington Financial in the third quarter worth about $62,000. Prospera Private Wealth LLC bought a new stake in Ellington Financial during the 3rd quarter worth approximately $68,000. Members Trust Co purchased a new stake in Ellington Financial in the 3rd quarter worth approximately $129,000. Atom Investors LP bought a new position in Ellington Financial in the 3rd quarter valued at $130,000. Finally, Creative Planning purchased a new position in shares of Ellington Financial during the 3rd quarter valued at $141,000. Hedge funds and other institutional investors own 55.62% of the company’s stock.

Ellington Financial Company Profile

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.