Ellington Residential: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Ellington Residential (NYSE:EARN) reported Q3 earnings with an EPS of $0.21, missing estimates by 12.5% against an expected $0.24. Revenue declined by $6.29 million from the same period last year. The company's stock price dropped 2.0% the day after missing Q2 EPS estimates by $0.05.
November 13, 2023 | 11:05 am
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NEGATIVE IMPACT
Ellington Residential missed Q3 earnings estimates with an EPS of $0.21 and a significant year-over-year revenue decline. Historical data shows a 2.0% stock price drop after a previous earnings miss.
Given the earnings miss and historical price reaction to a previous miss, it is likely that EARN's stock price will experience a short-term decline. The relevance and importance are high due to the direct impact of earnings on stock performance. Confidence is not at 100 due to market unpredictability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100