Ellington Financial Inc (NYSE: EFC) has reported earnings for its first fiscal quarter (ending March 31) of $0.32 versus $0.58 for the same period a year ago — a decline of -45%. Relative to the consensus estimate of $0.42, this was a shortfall of $-0.10. For the latest four quarters through March 31, E.P.S. were $0.64 compared to $-0.68 a year ago.
Recent Price Action
Ellington Financial Inc (NYSE: EFC) stock closed at $11.62 on 5/7/24 after a slight decline of -0.8%. However, below average trading volume at 69% of normal accompanied the decline. The stock has risen 0.5% during the last week but has been weak relative to the market over the last nine months.
Current PriceTarget Research Rating
EFC is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Ellington Financial has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Ellington Financial has a good Appreciation Score of 76 but a poor Power Rating of 28, leading to the Neutral Value Trend Rating.
Rating Review
In light of this discouraging new earnings information we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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