Ellington Credit score (EARN) got here out with quarterly earnings of $0.28 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.21 per share a yr in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of three.70%. 1 / 4 in the past, it was anticipated that this residential mortgage actual property funding belief would submit earnings of $0.24 per share when it truly produced earnings of $0.36, delivering a shock of fifty%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 4 occasions.
Ellington Credit score
The sustainability of the inventory’s quick value motion primarily based on the recently-released numbers and future earnings expectations will principally rely on administration’s commentary on the earnings name.
Ellington Credit score shares have added about 8% for the reason that starting of the yr versus the S&P 500’s achieve of 25.8%.
What’s Subsequent for Ellington Credit score?
Whereas Ellington Credit score has underperformed the market to this point this yr, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist buyers deal with that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified recently.
Empirical analysis exhibits a powerful correlation between near-term inventory actions and tendencies in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested score instrument just like the Zacks Rank, which has a powerful observe report of harnessing the facility of earnings estimate revisions.
Forward of this earnings release, the estimate revisions development for Ellington Credit score: blended. Whereas the magnitude and route of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in keeping with the market within the close to future. You’ll be able to see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It is going to be attention-grabbing to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.27 on $7.49 million in revenues for the approaching quarter and $1.16 on $19.88 million in revenues for the present fiscal yr.
Traders ought to be aware of the truth that the outlook for the trade can have a cloth influence on the efficiency of the inventory as properly. When it comes to the Zacks Business Rank, REIT and Fairness Belief is at the moment within the backside 42% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
AFC Gamma Inc. (AFCG), one other inventory in the identical trade, has but to report outcomes for the quarter ended September 2024. The outcomes are anticipated to be launched on November 13.
This firm is predicted to submit quarterly earnings of $0.34 per share in its upcoming report, which represents a year-over-year change of -30.6%. The consensus EPS estimate for the quarter has remained unchanged during the last 30 days.
AFC Gamma Inc.’s revenues are anticipated to be $14.51 million, down 13.7% from the year-ago quarter.
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Ellington Credit Company (EARN) : Free Stock Analysis Report
AFC Gamma Inc. (AFCG) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
