Ellington Credit (NYSE:EARN) Releases Q4 2024 Earnings Guidance

Ellington Credit (NYSE:EARN) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.260-0.280 for the period, compared to the consensus earnings per share estimate of 0.300. The company issued revenue guidance of -.

Ellington Credit Trading Down 0.2 %

Shares of NYSE:EARN traded down $0.02 during mid-day trading on Tuesday, reaching $6.58. The stock had a trading volume of 262,014 shares, compared to its average volume of 616,946. The firm has a market cap of $191.86 million, a PE ratio of 5.87 and a beta of 1.85. The firm has a 50 day simple moving average of $6.65 and a two-hundred day simple moving average of $6.77. Ellington Credit has a twelve month low of $5.54 and a twelve month high of $7.26.

Ellington Credit (NYSE:EARN) last announced its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. The company had revenue of $4.75 million for the quarter, compared to analysts’ expectations of $7.55 million. During the same period last year, the firm posted $0.21 earnings per share. On average, equities analysts anticipate that Ellington Credit will post 1.17 EPS for the current fiscal year.

Ellington Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, January 31st will be paid a $0.08 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.96 dividend on an annualized basis and a yield of 14.60%. Ellington Credit’s payout ratio is 85.71%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Ellington Credit from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th.

About Ellington Credit

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.