Ellington Residential Mortgage REIT reports results for the quarter ended in December - Earnings Summary

Ellington Credit Co

07/03/2024 24:10

* Ellington Residential Mortgage REIT  EARN.N  reported
quarterly
adjusted earnings of 27 cents​​ per share for the quarter ended
in December, higher than the same quarter last year, when the
company reported EPS of 25 cents.  The mean expectation of
five analysts for the quarter was for earnings of 23 cents per
share. Wall Street expected results to range from 20 cents to 27
cents per share.
    * Revenue fell 84.6% to $377.00 thousand from a year ago;
analysts
expected $2.46 million. 
    * Ellington Residential Mortgage REIT's reported EPS for the
quarter was 75 cents​.
    * The company reported quarterly net income of $12.44
million.
    * Ellington Residential Mortgage REIT shares had fallen
by 2.3%
this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the specialized
reits
peer group is also "hold"

Wall Street's median 12-month price target for Ellington
Residential Mortgage REIT is $6.50 
This summary was machine generated from LSEG data March 7 at
12:09 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.23           0.27           Beat
 Sep. 30 2023      0.24           0.21           Missed
 Jun. 30 2023      0.22           0.17           Missed
 Mar. 31 2023      0.24           0.21           Missed