Maxim Group Reaffirms “Buy” Rating for Ellington Financial (EFC)

Ellington Financial (NYSE:EFC)‘s stock had its “buy” rating restated by research analysts at Maxim Group in a report released on Tuesday, January 9th. They currently have a $19.00 price target on the financial services provider’s stock. Maxim Group’s price target suggests a potential upside of 26.58% from the stock’s current price.

The analysts wrote, “3Q17 book value of $18.84 (versus $18.96 in 3Q17) implies 3Q17 EPS of $0.29 (assuming no share buybacks), versus our $0.31 estimate. Price target of $19 equates to 1.0x book value.””

A number of other research firms have also recently weighed in on EFC. Zacks Investment Research raised Ellington Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, October 9th. B. Riley lowered Ellington Financial from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $17.50 to $16.00 in a research note on Wednesday, November 8th. Keefe, Bruyette & Woods set a $17.00 price objective on Ellington Financial and gave the company a “hold” rating in a research note on Monday, November 13th. Deutsche Bank reduced their price objective on Ellington Financial from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th. Finally, ValuEngine upgraded Ellington Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $17.25.

Shares of Ellington Financial (NYSE:EFC) traded up $0.12 during trading hours on Tuesday, reaching $15.01. The company had a trading volume of 116,300 shares, compared to its average volume of 94,656. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.90 and a current ratio of 3.90. The company has a market capitalization of $478.91, a PE ratio of 17.06 and a beta of 0.41. Ellington Financial has a 52 week low of $14.45 and a 52 week high of $17.00.

Ellington Financial (NYSE:EFC) last announced its earnings results on Monday, November 6th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.06). Ellington Financial had a net margin of 31.55% and a return on equity of 5.79%. sell-side analysts anticipate that Ellington Financial will post 1.07 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC purchased a new stake in shares of Ellington Financial during the 2nd quarter valued at approximately $1,003,000. Virtu KCG Holdings LLC raised its position in shares of Ellington Financial by 254.7% during the 2nd quarter. Virtu KCG Holdings LLC now owns 44,243 shares of the financial services provider’s stock valued at $717,000 after buying an additional 31,768 shares during the period. Goldman Sachs Group Inc. purchased a new stake in Ellington Financial in the second quarter valued at approximately $405,000. FMR LLC raised its position in Ellington Financial by 24.0% in the second quarter. FMR LLC now owns 1,522,518 shares of the financial services provider’s stock valued at $24,680,000 after purchasing an additional 294,734 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Ellington Financial in the second quarter valued at approximately $1,245,000. 45.70% of the stock is currently owned by hedge funds and other institutional investors.

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Ellington Financial Company Profile

Analyst Recommendations for Ellington Financial (NYSE:EFC)

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