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 closed yesterday at $15.71.
Diana wrote:
“2Q18 book value of $19.58 (versus $19.25 in 1Q18) implies 2Q18 EPS of $0.62 (assuming share buybacks equal to the 0.203 million shares already announced), versus our previous $0.41 estimate. Price target of $19.50 equates to 1.0x book value.”
According to TipRanks.com, Diana is a 5-star analyst with an average return of 8.9% and a 67.3% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Manhattan Bridge Capital Inc, and Arlington Asset Investment.
Currently, the analyst consensus on Ellington Financial is a Moderate Buy with an average price target of $19.50.
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Ellington Financial’s market cap is currently $485.2M and has a P/E ratio of 12.55. The company has a Price to Book ratio of 0.82.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EFC in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
