Ellington Credit (NYSE:EARN) Releases Q4 2024 Earnings Guidance

Ellington Credit (NYSE:EARN) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.260-0.280 for the period, compared to the consensus earnings per share estimate of 0.300. The company issued revenue guidance of -.

Ellington Credit Trading Down 0.2 %

Shares of Ellington Credit stock traded down $0.02 during mid-day trading on Tuesday, reaching $6.58. 262,014 shares of the stock were exchanged, compared to its average volume of 616,946. Ellington Credit has a fifty-two week low of $5.54 and a fifty-two week high of $7.26. The company has a market cap of $191.86 million, a price-to-earnings ratio of 5.87 and a beta of 1.85. The firm has a 50-day simple moving average of $6.65 and a 200 day simple moving average of $6.77.

Ellington Credit (NYSE:EARN) last posted its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $4.75 million during the quarter, compared to analysts’ expectations of $7.55 million. Ellington Credit had a net margin of 226.01% and a return on equity of 15.81%. During the same quarter in the previous year, the company posted $0.21 earnings per share. On average, research analysts predict that Ellington Credit will post 1.17 EPS for the current fiscal year.

Ellington Credit Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.08 per share. This represents a $0.96 annualized dividend and a dividend yield of 14.60%. The ex-dividend date is Friday, January 31st. Ellington Credit’s payout ratio is presently 85.71%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Ellington Credit from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th.

Ellington Credit Company Profile

Ellington Credit Company, a real estate investment trust, acquires, invests in, and manages residential mortgage-and real estate-related assets. It acquires and manages residential mortgage-backed securities (RMBS), including agency pools and agency collateralized mortgage obligations (CMOs); and non-agency RMBS, such as non-agency CMOs, such as investment grade and non-investment grade.