In a report released yesterday, Timothy P. Hayes from B.Riley FBR reiterated a Buy rating on Ellington Financial (EFC), with a price target of $18.50. The company’s shares closed last Monday at $17.68.
According to TipRanks.com, Hayes is a 4-star analyst with an average return of 4.8% and a 61.5% success rate. Hayes covers the Financial sector, focusing on stocks such as Fidus Investment Corporation, Ready Capital Corporation, and Saratoga Investment Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ellington Financial with a $19.25 average price target, which is an 8.1% upside from current levels. In a report issued on August 8, Maxim Group also reiterated a Buy rating on the stock with a $20 price target.
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Based on Ellington Financial’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $12.96 million. In comparison, last year the company had a net profit of $21.19 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.