Ellington Financial (NYSE:EFC) Hits New 52-Week Low - Here's What Happened

Key Points

• Ellington Financial hit a 52-week low, trading as low as $10.98; it was last quoted at $11.085, below its prior close of $11.17.
• The company reported quarterly EPS of $0.45, missing the $0.47 consensus, and revenue of $117.72 million versus estimates of $125.83 million. Analysts’ consensus rating is “Hold,” with an average price target of $13.83.
• Ellington declared a monthly dividend of $0.13 per share, equivalent to $1.56 annually and a stated yield of 14.0%.

Shares of Ellington Financial Inc. (NYSE:EFC - Get Free Report) reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $10.98 and last traded at $11.0850, with a volume of 204,114 shares trading hands. The stock had previously closed at $11.17.

Analyst Upgrades and Downgrades

EFC has been the topic of several analyst reports. Piper Sandler dropped their target price on Ellington Financial from $15.00 to $14.00 and set an "overweight" rating on the stock in a report on Friday, October 9th. Wall Street Zen cut Ellington Financial from a "hold" rating to a "sell" rating in a report on Saturday, November 7th. UBS Group increased their price objective on shares of Ellington Financial from $14.00 to $14.50 and gave the company a "neutral" rating in a research report on Wednesday, August 19th. JonesTrading lowered their price objective on shares of Ellington Financial from $14.50 to $13.00 and set a "buy" rating for the company in a research report on Thursday, November 5th. Finally, Weiss Ratings lowered shares of Ellington Financial from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $13.83.

Ellington Financial Stock Performance

The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 6.70 and a beta of 1.01. The company has a quick ratio of 52.06, a current ratio of 43.60 and a debt-to-equity ratio of 10.57. The company has a 50 day moving average of $12.04 and a 200 day moving average of $12.80.

Ellington Financial (NYSE:EFC - Get Free Report) last issued its quarterly earnings data 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 net margin of 41.95% and a return on equity of 15.83%. The business had revenue of $117.72 million for the quarter, compared to analyst estimates of $125.83 million. As a group, equities research analysts expect that Ellington Financial Inc. will post 2.07 EPS for the current fiscal year.

Ellington Financial Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Monday, November 30th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 14.0%. Ellington Financial's dividend payout ratio (DPR) is presently 93.98%.

Institutional Trading of Ellington Financial

Several institutional investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC bought a new position in Ellington Financial during the 2nd quarter valued at $25,000. Continuum Advisory LLC bought a new stake in shares of Ellington Financial in the 2nd quarter worth about $28,000. Farther Finance Advisors LLC increased its position in shares of Ellington Financial by 287.6% in the 3rd 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 last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Ellington Financial in the 2nd quarter worth about $41,000. Finally, TOP Private Wealth LLC. acquired a new stake in shares of Ellington Financial in the 2nd quarter valued at about $64,000. 55.62% of the stock is owned by institutional investors and hedge funds.

About Ellington Financial

Ellington Financial Inc. is a real estate investment trust that invests in a diversified portfolio of financial assets, with a focus on mortgage-related investments. Its holdings include residential and commercial mortgage loans and securities, as well as other asset-backed and consumer-related investments. The company seeks to generate income and returns through investing in, financing and managing these assets. Its portfolio may include mortgage servicing rights and other investments related to residential and commercial real estate.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.