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Ellington Financial Llc Down 7.52% To $11.14 After Earnings Miss

Tuesday, February 27, 2024 09:54 AM | InvestorsObserver Analysts

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Ellington Financial Llc Down 7.52% To $11.14 After Earnings Miss

Ellington Financial Llc (EFC) said after close Monday that it earned $0.27 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $31.6 million, missing estimates by $11.1 million.

In the same quarter a year ago, the company earned $0.42 per share on revenue of $30.2 million.

The stock is down 7.52% to $11.14 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Ellington Financial Llc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 23. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Ellington Financial Inc is a specialty finance company. Its primary investment objective is to generate attractive, risk-adjusted total returns for its shareholders by making investments. The company focuses on investing residential mortgage-backed securities guaranteed by U.S. government agency or a U.S. government-sponsored entity, Alternative A-paper, subprime residential mortgage loans, mortgage servicing rights, mortgage-related derivatives, commercial mortgage-backed securities and other commercial real estate debt. It also invests in corporate debt and equity securities, collateralized loan obligations, consumer loans and asset-backed securities. Revenue generated by the company consists of interest income.

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