BTIG analyst Eric Hagen maintained a Buy rating on Ellington Financial (EFC) yesterday and set a price target of $18.50. The company’s shares closed last Monday at $17.87, close to its 52-week high of $18.44.
According to TipRanks.com, Hagen is a 2-star analyst with an average return of 3.8% and a 66.7% success rate. Hagen covers the Financial sector, focusing on stocks such as New Residential Inv, Chimera Investment, and PennyMac Mortgage.
Currently, the analyst consensus on Ellington Financial is a Strong Buy with an average price target of $18.63, a 2.1% upside from current levels. In a report issued on May 7, Maxim Group also reiterated a Buy rating on the stock with a $20.00 price target.
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Based on Ellington Financial’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $54.32 million and net profit of $65.1 million. In comparison, last year the company had a GAAP net loss of $127 million.
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Ellington Financial, Inc. 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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