Is EARN Stock a Good Buy? Forecast, Dividend, and Outlook
Earn Stock Price Latest Trading Data
Ellington Credit Co. trades on the NYSE, operating in the Real Estate sector, specifically in Real Estate Investment Trusts (REITs). The stock reached a high of $6.93 and a low of $6.81 during today’s trading, with a share volume of 381,612, far exceeding its average volume of 103,178. The previous close was $6.89.
Over the past 52 weeks, the stock has fluctuated between a high of $7.26 and a low of $5.09. The company has a market capitalisation of $173.49 million and a P/E ratio of 17.56. Its forward P/E ratio for the next year is 5.94, with earnings per share (EPS) of $0.39.
Ellington Credit Co. pays an annualised dividend of $0.96, making the EARN stock dividend appealing to income-focused investors. The most recent ex-dividend date was August 30, 2024, with the next dividend payment scheduled for September 25, 2024. The stock offers a solid yield, appealing to income-focused investors. The 1-year target price for EARN stock is $7.00, indicating a potential upside from current levels. According to the EARN stock forecast, momentum investors may find it attractive despite concerns about long-term underperformance.
Is EARN Stock A Good Investment?
Ellington Credit Company (EARN) indicates expected above-average returns, though its overall financial stability and future growth outlook suggest it may underperform the market. Currently, it holds a Growth Score of D and a VGM Score of D, indicating poor value and growth potential. However, recent price fluctuations and adjustments to earnings forecasts have made it attractive to momentum investors, as reflected by a Momentum Score of A. Despite its strong momentum, its overall financial health suggests potential underperformance in the long term.
EARN Stock Signals & Forecast
EARN stock displays mixed signals: a buy signal from the MACD but sell signals from moving averages. Resistance levels are at $6.96 and $6.94. A recent sell signal suggests further declines until a new bottom is established, with rising volume indicating potential caution.
Support, Risk, & Stop-loss for Ellington Residential Mortgage REIT Stock
The stock has established support at $6.83, which could present a buying opportunity as a positive reaction is anticipated when this support is tested. Overall, the stock shows stable price movements and its strong liquidity results in a low-risk profile. Over the past day, the stock fluctuated by $0.120, corresponding to a 1.76% change. In the past week, the stock saw an average daily volatility of 1.56%.
Insiders remain optimistic as recent trades show more buying activity despite higher overall sales, indicating renewed interest or expiring stock options.
EARN Trading Expectations for Thursday, 5th
On Thursday, the 5th, the stock should open at $6.86, trading between $6.72 and $6.98. The stock is closer to support at $6.83, indicating an attractive risk/reward profile for potential profits before resistance is hit at $6.95.
Insiders remain optimistic as recent trades show more buying activity despite higher overall sales, indicating renewed interest or expiring stock options.
About the Company: Ellington Credit Co.
Ellington Credit Co. operates as a real estate investment trust, focusing on obtaining, investing in, and overseeing residential mortgages and real estate assets. Established on August 2, 2012, the company is based in Old Greenwich, Connecticut. Its holdings consist of agency and non-agency mortgage-backed securities and other targeted assets such as whole residential mortgage loans, commercial mortgage-backed securities, mortgage-related derivatives, and additional asset-backed securities.
