Mortgage investment firm Ellington Financial (NYSE: EFC) will be reporting results this Wednesday after the bell. Here’s what to expect.
Ellington Financial beat analysts’ revenue expectations last quarter, reporting revenues of $82.76 million, up 23.6% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.
Is Ellington Financial a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ellington Financial’s revenue to grow 26.1% year on year, a reversal from the 15% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Ellington Financial rarely misses Wall Street’s revenue estimates.
Looking at Ellington Financial’s peers in the thrifts & mortgage finance segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Flagstar Financial’s revenues decreased 3% year on year, beating analysts’ expectations by 3.2%, and Columbia Financial reported revenues up 236%, topping estimates by 12.7%. Flagstar Financial’s stock price was unchanged after the resultswhile Columbia Financial was up 7.5%.
Read our full analysis of Flagstar Financial’s results here and Columbia Financial’s results here.
Investors in the thrifts & mortgage finance segment have had steady hands going into earnings, with share prices flat over the last month. Ellington Financial is down 9.9% during the same time and is heading into earnings with an average analyst price target of $14.63 (compared to the current share price of $12.46).
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