Ellington Credit (NYSE:EARN) Stock Rating Lowered by Wall Street Zen

Key Points

• Ellington Credit has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, signaling a negative outlook for the stock.
• UBS Group has reduced its price target for the stock from $5.75 to $5.25, while the average price target among analysts is currently $5.88.
• The company's latest quarterly earnings showed an EPS of $0.18, which fell short of the consensus estimate of $0.20.

Ellington Credit (NYSE:EARN - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Separately, UBS Group decreased their price objective on Ellington Credit from $5.75 to $5.25 and set a "neutral" rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $5.88.

Ellington Credit Stock Performance

Shares of EARN opened at $5.14 on Friday. The firm has a market capitalization of $192.87 million, a price-to-earnings ratio of 28.53 and a beta of 1.33. The business's fifty day moving average price is $5.56 and its two-hundred day moving average price is $5.57. Ellington Credit has a 52 week low of $4.32 and a 52 week high of $7.11.

Ellington Credit (NYSE:EARN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 19th. The real estate investment trust reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). The firm had revenue of $9.87 million during the quarter, compared to the consensus estimate of $12.15 million. Ellington Credit had a net margin of 19.24% and a return on equity of 15.90%. As a group, research analysts forecast that Ellington Credit will post 1.17 EPS for the current year.

Institutional Investors Weigh In On Ellington Credit

Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in shares of Ellington Credit by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 126,864 shares of the real estate investment trust's stock worth $686,000 after purchasing an additional 45,845 shares during the period. Clear Harbor Asset Management LLC grew its stake in shares of Ellington Credit by 21.6% during the second quarter. Clear Harbor Asset Management LLC now owns 350,500 shares of the real estate investment trust's stock worth $2,015,000 after purchasing an additional 62,200 shares during the period. Inspire Advisors LLC grew its stake in Ellington Credit by 16.3% in the first quarter. Inspire Advisors LLC now owns 17,203 shares of the real estate investment trust's stock valued at $93,000 after acquiring an additional 2,407 shares during the period. Castlekeep Investment Advisors LLC grew its stake in Ellington Credit by 1,107.9% in the first quarter. Castlekeep Investment Advisors LLC now owns 180,672 shares of the real estate investment trust's stock valued at $977,000 after acquiring an additional 165,714 shares during the period. Finally, OMERS ADMINISTRATION Corp grew its stake in Ellington Credit by 103.8% in the first quarter. OMERS ADMINISTRATION Corp now owns 186,300 shares of the real estate investment trust's stock valued at $1,008,000 after acquiring an additional 94,900 shares during the period. 20.40% of the stock is owned by institutional investors and hedge funds.

Ellington Credit Company Profile

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.

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