Ellington Financial Sees 26.1% Q4 Revenue Growth Forecast After 23.6% Q3 Surge
Ellington Financial delivered Q3 revenues of $82.76 million, up 23.6% year-over-year, and beat both EPS and revenue estimates. Analysts forecast Q4 revenue growth of 26.1% year-over-year after a 15% decline last year, while the stock is down 9.9% versus peers over the past month.
1. Q3 Performance
Ellington Financial reported Q3 revenues of $82.76 million, marking a 23.6% year-over-year increase and exceeding both EPS and revenue expectations for the period.
2. Q4 Expectations
Analysts project Q4 revenues to rise 26.1% year-over-year, a significant rebound from the 15% decline in the same quarter last year, with estimates largely unchanged over the past month.
3. Peer Comparison
Within the thrifts & mortgage finance segment, Flagstar Financial saw a 3% revenue drop but beat estimates by 3.2%, while Columbia Financial recorded 236% revenue growth, topping forecasts by 12.7%.
4. Analyst and Stock Trends
Ellington’s shares have fallen 9.9% over the last month compared with a flat segment average, and the average analyst price target stands at $14.63 versus a $12.46 share price.