Brokerages forecast that Ready Capital Corp (NYSE:RC) will announce earnings of $0.41 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Ready Capital’s earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $0.41. Ready Capital reported earnings per share of $0.48 in the same quarter last year, which suggests a negative year over year growth rate of 14.6%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, November 6th.
According to Zacks, analysts expect that Ready Capital will report full year earnings of $1.58 per share for the current financial year, with EPS estimates ranging from $1.51 to $1.68. For the next year, analysts forecast that the firm will post earnings of $1.81 per share, with EPS estimates ranging from $1.77 to $1.85. Zacks’ EPS averages are an average based on a survey of research analysts that cover Ready Capital.
Ready Capital (NYSE:RC) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. Ready Capital had a net margin of 30.47% and a return on equity of 8.79%. The business had revenue of $21.28 million during the quarter, compared to analysts’ expectations of $17.58 million.
Separately, Zacks Investment Research raised Ready Capital from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $16.50.
Shares of RC stock traded down $0.22 during trading hours on Monday, reaching $14.81. 102,215 shares of the company traded hands, compared to its average volume of 176,467. Ready Capital has a 12-month low of $13.44 and a 12-month high of $17.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market cap of $659.43 million, a P/E ratio of 8.41 and a beta of 0.76. The stock’s 50-day moving average price is $15.01.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, June 28th were issued a $0.40 dividend. The ex-dividend date was Thursday, June 27th. This represents a $1.60 annualized dividend and a yield of 10.80%. Ready Capital’s dividend payout ratio is currently 90.91%.
In related news, Director Todd M. Sinai purchased 3,500 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average cost of $14.74 per share, for a total transaction of $51,590.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.83% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC bought a new stake in Ready Capital during the first quarter worth approximately $29,000. Quantamental Technologies LLC bought a new position in Ready Capital during the first quarter valued at about $32,000. Gemmer Asset Management LLC bought a new position in Ready Capital during the first quarter valued at about $40,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ready Capital by 561.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,094 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 2,626 shares during the period. Finally, Bank of Montreal Can grew its position in Ready Capital by 189.6% during the second quarter. Bank of Montreal Can now owns 4,008 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 2,624 shares during the period. Hedge funds and other institutional investors own 37.12% of the company’s stock.
Ready Capital Company Profile
Ready Capital Corporation operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.
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