Ellington Financial Inc. (NYSE:EFC) is reporting third quarter financial results on Thursday 5th November 2020, after market close.
According to analysts surveyed by Thomson Reuters, EFC is expected to report 3Q20 income of $ 0.33 per share from revenue of $ 23.27 million.
For the full year, analysts anticipate top line of $ 104.28 million, while looking forward to income of $ 1.50 per share bottom line.
Previous Quarter Performance
Ellington Financial Inc. outlined income for the second quarter of $ 0.39 per share, from the revenue of $ 24.59 million. The quarterly earnings dropped 15.22 percent while revenues escalated 30.52 percent compared with the same quarter last year.
Wall street analysts are predicting, EFC to report 2Q20 income of $ 0.27 per share from revenue of $ 21.94 million. The bottom line results beat street analysts by $ 0.12 or 44.44 percent, at the same time, top line results outshined analysts by $ 2.65 million or 12.08 percent.
Stock Performance
Shares of Ellington Financial Inc. traded low $ -0.04 or -0.31 percent on Wednesday, reaching $ 12.92 with volume of 163.40 thousand shares. Ellington Financial Inc. has traded high as $ 12.99 and has cracked $ 12.70 on the downward trend
The closing price of $ 12.92, representing a 300.00 % increase from the 52 week low of $ 3.24 and a 32.22 % decrease over the 52 week high of $ 19.12.
The company has a market capital of $ 565.61 million and is part of the Financial Services sector and Specialty Finance industry.
Recent Analyst recommendations
- On 9th October 2020, maintained by Piper Sandler at Overweight rating, with $ 15.00 target price.
Ellington Financial Inc., through its subsidiary Ellington Financial Operating Partnership LLC, acquire and manage mortgage-related, consumer-related, corporate-related, and other financial assets in the United States. The company acquires and manages residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S. government agency or the U.S.
