Streetbeat News

EFC

Ellington Financial Inc.

https://www.ellingtonfinancial.com

Industry

REIT - Mortgage

Ellington Financial Inc., through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages 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. government-sponsored entity; residential mortgage loans; commercial mortgage-backed securities; and commercial mortgage loans and other commercial real estate debt. It also provides collateralized loan obligations; mortgage-related and non-mortgage-related derivatives; corporate debt and equity securities; corporate loans; and other strategic investments. In addition, the company offers consumer loans and asset-backed securities backed by consumer and commercial assets. Ellington Financial LLC was incorporated in 2007 and is based in Old Greenwich, Connecticut.

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Ellington Financial (EFC) reported Q4 2023 adjusted EPS of $0.27, missing the $0.40 estimate, and sales of $31.58M, below the $42.67M estimate. This represents a 4.65% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 10:47 pm

Numerous companies are scheduled to report their earnings on February 26, 2024, covering a wide range of industries from energy to technology. Key reports include Kosmos Energy, Krystal Biotech, Li Auto, and Domino's Pizza, among others. The diversity of sectors represented suggests a comprehensive insight into the economic and business trends affecting these markets.

Portfolio Pulse from Benzinga Insights

February 26, 2024 | 9:47 am

Ellington Financial (NYSE:EFC) is scheduled to release its quarterly earnings report on 2024-02-26, with analysts expecting an EPS of $0.40. Historical data shows a pattern of price changes following earnings announcements, with a notable 1.65% drop after last quarter's miss. Shares are currently trading at $12.09, down 4.92% over the last year, indicating a bearish sentiment among long-term shareholders.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 6:00 pm

Ellington Financial Inc. (EFC) and Hywin Holdings Ltd. (HYW) are identified as oversold financial stocks with RSIs of 29.54 and 6.13, respectively. EFC recently saw a 3% decline over the past month after a merger approval with Arlington Asset Investment, while HYW dropped about 77% after announcing a strategic partnership with Tencent Cloud. Both stocks are considered potential buys for their undervalued status.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 12:03 pm

Arlington Asset Investment announced its intention to voluntarily delist from the NYSE in connection with its anticipated merger with Ellington Financial. The company plans to file a Form 25 with the SEC on December 26, 2023, with the expected last trading day of the Senior Notes on the NYSE being January 5, 2024. No arrangements have been made for the Senior Notes to be listed or registered on another exchange or quoted on another medium.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 1:09 pm

Arlington Asset Investment Corp. (AAIC) shareholders have overwhelmingly approved a merger with Ellington Financial Inc. (EFC). The merger agreement details the exchange of Arlington common stock for Ellington Financial common stock and cash, as well as the conversion of Arlington preferred stock into Ellington Financial preferred stock. The merger is expected to close on December 14, 2023, pending the satisfaction of remaining conditions.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 9:31 pm

UBS analyst Douglas Harter has initiated coverage on Ellington Financial (NYSE:EFC) with a Neutral rating and set a price target of $13.5.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 12:54 pm

Ellington Financial (NYSE:EFC) announced a monthly dividend of 6 cents per share, with the ex-dividend date set for Thursday. Shareholders owning the stock by the end of Wednesday are eligible for the dividend, which will be paid on December 13, 2023. The stock is expected to open 6 cents lower on the ex-dividend date.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 2:45 pm

Jim Cramer, on CNBC's 'Mad Money Lightning Round,' expressed his opinions on several stocks. He remains positive on Trane Technologies plc (TT), which has seen a 32% increase over six months, and Palantir Technologies Inc. (PLTR). He suggests buying Walmart Inc. (WMT) at current levels, preferring it over Costco Wholesale Corporation (COST), which he also views favorably. Cramer considers ImmunityBio, Inc. (IBRX) a risky investment due to its financial losses and dependency on approvals. He is uncertain about Ellington Financial (EFC) due to lack of knowledge about its holdings. Cramer prefers The Boeing Company (BA) over Air Lease Corporation (AL), although he likes both.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 1:45 pm

Ellington Financial (NYSE:EFC) reported Q3 earnings of $0.33 per share, missing the analyst consensus estimate of $0.42 by 21.43%. This is a 25% decrease from the same period last year. The company also reported quarterly sales of $27.51 million, missing the analyst consensus estimate of $51.51 million by 46.59%. This is a 24.64% decrease from the same period last year.

Portfolio Pulse from mahesh@benzinga.com

November 07, 2023 | 10:21 pm

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