Ellington Credit Co reports results for the quarter ended June 30 - Earnings Summary

• Ellington Credit Co EARN.N reported quarterly adjusted earnings of 18 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 36 cents. The mean expectation of four analysts for the quarter was for earnings of 23 cents per share. Wall Street expected results to range from 17 cents to 31 cents per share.

• Revenue rose 153.3% to $9.87 million from a year ago; analysts expected $10.50 million.

• Ellington Credit Co's reported EPS for the quarter was 27 cents​.

• The company reported quarterly net income of $10.21 million.

• Ellington Credit Co shares had fallen by 2.8% this quarter and lost 15.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 7.8% 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," 3 "hold" and no "sell" or "strong sell." The average consensus recommendation for the closed end funds peer group is "buy."

• Wall Street's median 12-month price target for Ellington Credit Co is $6.13, about 8.4% above its last closing price of $5.61

This summary was machine generated from LSEG data August 19 at 09:57 p.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)