JonesTrading Has Lowered Expectations for Ellington Financial (NYSE:EFC) Stock Price

Key Points

• JonesTrading cut its price target for Ellington Financial from $14.50 to $13.00 but maintained a Buy rating, implying about 13.1% upside from the current share price.
• Analyst sentiment is mixed: the consensus rating is Hold, with an average price target of $13.83. Two analysts rate the stock Buy and four rate it Hold.
• Ellington Financial’s latest quarterly results missed expectations, reporting EPS of $0.45 versus $0.47 forecast and revenue of $117.72 million versus $125.83 million estimated.

Ellington Financial (NYSE:EFC - Get Free Report) had its price target decreased by equities research analysts at JonesTrading from $14.50 to $13.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. JonesTrading's price objective points to a potential upside of 13.10% from the company's current price.

Several other research firms have also weighed in on EFC. Zacks Research lowered shares of Ellington Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. UBS Group upped their target price on shares of Ellington Financial from $14.00 to $14.50 and gave the company a "neutral" rating in a report on Wednesday, August 19th. Weiss Ratings downgraded shares of Ellington Financial from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, October 8th. Finally, Piper Sandler reduced their price target on Ellington Financial from $15.00 to $14.00 and set an "overweight" rating for the company in a report on Friday, October 9th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $13.83.

Ellington Financial Price Performance

NYSE:EFC opened at $11.49 on Thursday. Ellington Financial has a 1-year low of $11.27 and a 1-year high of $14.12. The company has a current ratio of 52.06, a quick ratio of 52.06 and a debt-to-equity ratio of 10.39. The firm has a fifty day simple moving average of $12.21 and a 200 day simple moving average of $12.85. The stock has a market capitalization of $1.48 billion, a PE ratio of 6.92 and a beta of 1.01.

Ellington Financial (NYSE:EFC - Get Free Report) last issued its earnings results on Wednesday, November 4th. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.02). Ellington Financial had a return on equity of 16.12% and a net margin of 41.95%. The firm had revenue of $117.72 million for the quarter, compared to analyst estimates of $125.83 million. On average, research analysts expect that Ellington Financial will post 2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Ellington Financial

A number of large investors have recently made changes to their positions in the company. MCF Advisors LLC acquired a new position in shares of Ellington Financial during the 2nd quarter worth approximately $25,000. Continuum Advisory LLC bought a new position in shares of Ellington Financial during the second quarter worth approximately $28,000. Farther Finance Advisors LLC increased its holdings in shares of Ellington Financial by 287.6% during the third quarter. Farther Finance Advisors LLC now owns 2,566 shares of the financial services provider's stock worth $30,000 after purchasing an additional 1,904 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Ellington Financial in the second quarter valued at approximately $41,000. Finally, TOP Private Wealth LLC. acquired a new stake in Ellington Financial during the second quarter worth approximately $64,000. Institutional investors own 55.62% of the company's stock.

Ellington Financial Company Profile

Ellington Financial Inc is a real estate investment trust (REIT) that acquires, invests in and manages a portfolio of mortgage-related and other financial assets. The company focuses primarily on residential and commercial mortgage loans, mortgage-backed securities and related investments.

Its investment activities may include agency and non-agency residential mortgage-backed securities, commercial mortgage-backed securities, residential and commercial mortgage loans, mortgage servicing rights and consumer loans.

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