Maxim Group Believes Ellington Financial (EFC) Still Has Room to Grow


Maxim Group analyst Michael Diana reiterated a Buy rating on Ellington Financial (EFC) today and set a price target of $19.50. The company’s shares opened today at $17.01, close to its 52-week high of $17.48.

Diana observed:

“EFC reported a 4Q18 net loss per share of ($0.07) including $0.07 of REIT conversion/non-recurring costs) versus its $0.41 dividend. the dividend was covered by adjusted net investment income (NII), which should make future coverage of the dividend more predictable.”

According to TipRanks.com, Diana is a 5-star analyst with an average return of 6.7% and a 60.0% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Arlington Asset Investment, and Westamerica Bancorporation.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ellington Financial with a $18.75 average price target, which is a 10.2% upside from current levels. In a report issued on February 14, B.Riley FBR also upgraded the stock to Buy with a $18 price target.

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Ellington Financial’s market cap is currently $526.1M and has a P/E ratio of 9.48. The company has a Price to Book ratio of 0.89.

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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.

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