Ellington Financial Inc to Issue Monthly Dividend of $0.14 (NYSE:EFC)

Ellington Financial Inc (NYSE:EFC) declared a monthly dividend on Monday, October 7th, Zacks reports. Investors of record on Thursday, October 31st will be given a dividend of 0.14 per share by the financial services provider on Monday, November 25th. This represents a $1.68 dividend on an annualized basis and a yield of 9.37%. The ex-dividend date is Wednesday, October 30th.

Ellington Financial has decreased its dividend payment by an average of 12.5% annually over the last three years. Ellington Financial has a dividend payout ratio of 118.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Ellington Financial to earn $1.76 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 95.5%.

Ellington Financial stock traded up $0.06 during mid-day trading on Wednesday, reaching $17.94. The company’s stock had a trading volume of 16,488 shares, compared to its average volume of 234,006. Ellington Financial has a 12-month low of $14.69 and a 12-month high of $18.50. The company has a market capitalization of $603.83 million, a P/E ratio of 12.72 and a beta of 0.39. The company has a debt-to-equity ratio of 4.01, a quick ratio of 43.66 and a current ratio of 43.66. The firm’s fifty day moving average price is $17.76 and its two-hundred day moving average price is $17.90.

Ellington Financial (NYSE:EFC) last released its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. Ellington Financial had a net margin of 21.99% and a return on equity of 8.70%. The business had revenue of $38.55 million during the quarter, compared to analyst estimates of $37.46 million. On average, research analysts predict that Ellington Financial will post 1.71 EPS for the current fiscal year.

EFC has been the subject of a number of recent research reports. ValuEngine lowered shares of Ellington Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered shares of Ellington Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Nomura initiated coverage on shares of Ellington Financial in a research note on Friday, September 27th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Maxim Group reiterated a “buy” rating and issued a $20.00 price objective on shares of Ellington Financial in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $19.50.

Ellington Financial Company Profile

Ellington Financial LLC, through its subsidiary Ellington Financial Operating Partnership LLC, operates as a specialty finance company in the United States. The company acquires and manages mortgage-related assets, including residential mortgage-backed securities (RMBS) backed by prime jumbo, Alt-A, manufactured housing, and subprime residential mortgage loans; RMBS for which the principal and interest payments are guaranteed by the U.S.

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Dividend History for Ellington Financial (NYSE:EFC)

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