On May 10, 2013, Zacks Investment Research upgraded
Ellington Financial LLC
) to a Zacks #1 Rank (Strong Buy).
FIRST PACTRUST (BANC): Free Stock Analysis
ELLINGTON FINL (EFC): Free Stock Analysis
HOME LOAN SERVC (HLSS): Free Stock Analysis
NATIONSTAR MTGE (NSM): Free Stock Analysis
To read this article on Zacks.com click here.
Why the Upgrade?
Ellington Financial has been witnessing rising earnings estimates
on the back of strong fiscal first-quarter 2013 results.
Moreover, shares of this mortgage investment company appreciated
15.6% year to date.
On May 6, 2013, Ellington Financial reported first-quarter net
income of $40.3 million compared with $24.8 million in the
The sequential improvement was driven by higher net investment
income and interest income as well as lower operating expenses.
Net investment income was $10.6 million, up substantially from
the previous quarter. On a per share basis, net investment income
came in at 51 cents per share, substantially higher than 18 cents
recorded in the prior quarter. Total expenses reduced 39.8%
sequentially to $7.8 million. The decline was attributable to a
reduction in incentive fees and other operating expenses.
Interest income nudged up 10.4% to $18.4 million.
Over the last 7 days, 1 out of 2 estimates for 2013 has been
revised upward, raising the Zacks Consensus Estimate by 14.8% to
$3.44 per share. For 2014, 1 out of 2 estimates moved higher over
the same time frame, pulling the Zacks Consensus Estimate by 2.0%
to $3.00 per share.
Other Stocks to Consider
Other stocks in the same sector that are also worth considering
Home Loan Servicing Solutions, Ltd
Nationstar Mortgage Holdings Inc
First Pactrust Bancorp, Inc
). All these carry a Zacks Rank #1 (Strong Buy).