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

Ellington Credit (NYSE:EARN) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. 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 -.

Analyst Ratings Changes

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

Ellington Credit Stock Performance

Shares of NYSE:EARN traded down $0.03 on Wednesday, hitting $6.59. The stock had a trading volume of 277,217 shares, compared to its average volume of 617,913. The firm’s 50 day moving average price is $6.65 and its 200-day moving average price is $6.76. Ellington Credit has a twelve month low of $5.54 and a twelve month high of $7.26. The company has a market capitalization of $192.15 million, a price-to-earnings ratio of 5.88 and a beta of 1.85.

Ellington Credit (NYSE:EARN) last issued its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $4.75 million for 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 period in the prior year, the firm earned $0.21 earnings per share. As a group, sell-side analysts predict that Ellington Credit will post 1.17 EPS for the current year.

Ellington Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, January 31st will be paid a $0.08 dividend. The ex-dividend date is Friday, January 31st. This represents a $0.96 annualized dividend and a dividend yield of 14.58%. Ellington Credit’s dividend payout ratio (DPR) is currently 85.71%.

About Ellington Credit

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.