In a report released today, Michael Diana from Maxim Group initiated coverage with a Buy rating on Ellington Financial (NYSE: EFC) and a price target of $19.50. The company’s shares opened today at $15.86.
“3Q18 book value of $19.37 (versus $19.57 in 2Q18) implies 3Q18 EPS of $0.21 (assuming no share buybacks), versus our previous $0.41 estimate. Price target of $19.50 equates to 1.0x book value.”
According to TipRanks.com, Diana is a 4-star analyst with an average return of 6.0% and a 60.0% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
Ellington Financial has an analyst consensus of Moderate Buy, with a price target consensus of $18.50.
Ellington Financial’s market cap is currently $485.1M and has a P/E ratio of 8.88. The company has a Price to Book ratio of 0.81.
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Ellington Financial LLC engages in the provision of investment services. It manages mortgage-backed assets, securities, loans and real estate debts. The company was founded on July 9, 2007 and is headquartered in Old Greenwich, CT.