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Ellington (EFC) to Report Q1 Earnings: What's in the Offing?
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Ellington Financial (EFC - Free Report) is scheduled to report first-quarter 2020 results, after market close on May 7. The company’s revenues and earnings are expected to have witnessed year-over-year declines.
In the last reported quarter, its earnings met the Zacks Consensus Estimate. Results reflected lower profit in credit strategy, partially offset by a decline in other expenses.
The company has an impressive earnings surprise history. Its earnings surpassed the consensus estimate in three of the trailing four quarters while met in one, the average beat being 10.1%.
The Zacks Consensus Estimate for Ellington’s earnings of 40 cents for the to-be-reported quarter has declined over the past 30 days. Also, it indicates a fall of 11.1% from the year-ago reported figure.
Key Factors to Note
Ellington’s top line is anticipated to have benefited from an increase in mortgage loan originations and refinancing activities in the first quarter on account of lower mortgage rates.
However, the company’s other investments portfolio’s interest income is expected to have been affected due to relatively lower interest rates. The consensus estimate for sales of $24.5 million suggests a 31.9% year-over-year decline.
Moreover, as salaries and benefits costs continue to increase, overall expenses are expected to have risen in the first quarter.
Earnings Whispers
According to our quantitative model, chances of the company beating the Zacks Consensus Estimate this time around are low. This is because it does not have the right combination of the two key ingredients — a positive Earnings ESPand Zacks Rank #3 (Hold) or better.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Ellington is -16.46%.
GAIN Capital Holdings, Inc. has been recording upward estimate revisions for the past 30 days. Also, the company’s shares have gained 52.3% in six months. At present, it flaunts a Zacks Rank of 1.
PennyMac Financial Services (PFSI - Free Report) has been witnessing upward estimate revisions for the past 30 days. The stock has declined 6.7% over the past six months. It currently sports a Zacks Rank #1.
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Ellington (EFC) to Report Q1 Earnings: What's in the Offing?
Ellington Financial (EFC - Free Report) is scheduled to report first-quarter 2020 results, after market close on May 7. The company’s revenues and earnings are expected to have witnessed year-over-year declines.
In the last reported quarter, its earnings met the Zacks Consensus Estimate. Results reflected lower profit in credit strategy, partially offset by a decline in other expenses.
The company has an impressive earnings surprise history. Its earnings surpassed the consensus estimate in three of the trailing four quarters while met in one, the average beat being 10.1%.
Ellington Financial LLC Price and EPS Surprise
Ellington Financial LLC price-eps-surprise | Ellington Financial LLC Quote
The Zacks Consensus Estimate for Ellington’s earnings of 40 cents for the to-be-reported quarter has declined over the past 30 days. Also, it indicates a fall of 11.1% from the year-ago reported figure.
Key Factors to Note
Ellington’s top line is anticipated to have benefited from an increase in mortgage loan originations and refinancing activities in the first quarter on account of lower mortgage rates.
However, the company’s other investments portfolio’s interest income is expected to have been affected due to relatively lower interest rates. The consensus estimate for sales of $24.5 million suggests a 31.9% year-over-year decline.
Moreover, as salaries and benefits costs continue to increase, overall expenses are expected to have risen in the first quarter.
Earnings Whispers
According to our quantitative model, chances of the company beating the Zacks Consensus Estimate this time around are low. This is because it does not have the right combination of the two key ingredients — a positive Earnings ESPand Zacks Rank #3 (Hold) or better.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Ellington is -16.46%.
Zacks Rank: Ellington has a Zacks Rank #4 (Sell).
Stocks to Consider
Eagle Bancorp Montana, Inc. (EBMT - Free Report) has been witnessing upward estimate revisions for the past 30 days. This Zacks #2 Ranked (Buy) stock has lost more than 8% in the past six months. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
GAIN Capital Holdings, Inc. has been recording upward estimate revisions for the past 30 days. Also, the company’s shares have gained 52.3% in six months. At present, it flaunts a Zacks Rank of 1.
PennyMac Financial Services (PFSI - Free Report) has been witnessing upward estimate revisions for the past 30 days. The stock has declined 6.7% over the past six months. It currently sports a Zacks Rank #1.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>