Ready Capital Corp (NYSE:RC) Expected to Post Earnings of $0.69 Per Share

Equities analysts expect Ready Capital Corp (NYSE:RC) to post $0.69 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Ready Capital’s earnings, with the highest EPS estimate coming in at $0.84 and the lowest estimate coming in at $0.40. Ready Capital reported earnings of $0.37 per share during the same quarter last year, which suggests a positive year over year growth rate of 86.5%. The business is expected to report its next quarterly earnings report on Wednesday, August 5th.

On average, analysts expect that Ready Capital will report full-year earnings of $1.04 per share for the current year, with EPS estimates ranging from $0.75 to $1.28. For the next fiscal year, analysts forecast that the firm will post earnings of $0.94 per share, with EPS estimates ranging from $0.70 to $1.20. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Ready Capital.

Ready Capital (NYSE:RC) last issued its earnings results on Monday, May 11th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.35). The company had revenue of $22.62 million for the quarter, compared to analyst estimates of $24.87 million. Ready Capital had a positive return on equity of 7.30% and a negative net margin of 2.77%.

RC has been the topic of several research reports. TheStreet lowered shares of Ready Capital from a “c” rating to a “d+” rating in a research report on Monday, May 11th. LADENBURG THALM/SH SH lowered shares of Ready Capital from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 12th. ValuEngine upgraded shares of Ready Capital from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 4th. JMP Securities increased their price target on shares of Ready Capital from $10.00 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, June 18th. Finally, Zacks Investment Research upgraded shares of Ready Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.29.

Shares of RC stock traded down $0.22 during trading hours on Friday, hitting $8.40. The company’s stock had a trading volume of 9,994 shares, compared to its average volume of 804,625. The business has a fifty day moving average of $7.38 and a 200-day moving average of $10.86. The stock has a market cap of $475.36 million, a price-to-earnings ratio of -282.91 and a beta of 1.01. Ready Capital has a twelve month low of $3.92 and a twelve month high of $16.90. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.57.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 11.90%. The ex-dividend date is Monday, June 29th. Ready Capital’s payout ratio is 64.94%.

In related news, COO Gary Taylor purchased 8,250 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $6.02 per share, with a total value of $49,665.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.83% of the company’s stock.

Large investors have recently bought and sold shares of the business. Invesco Ltd. increased its position in shares of Ready Capital by 1,192.0% in the first quarter. Invesco Ltd. now owns 1,503,371 shares of the real estate investment trust’s stock worth $10,854,000 after acquiring an additional 1,387,007 shares in the last quarter. State Street Corp increased its position in shares of Ready Capital by 37.2% in the first quarter. State Street Corp now owns 1,703,352 shares of the real estate investment trust’s stock worth $12,878,000 after acquiring an additional 462,012 shares in the last quarter. BlackRock Inc. increased its position in shares of Ready Capital by 5.8% in the first quarter. BlackRock Inc. now owns 6,450,598 shares of the real estate investment trust’s stock worth $46,574,000 after acquiring an additional 353,487 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Ready Capital in the fourth quarter worth $4,295,000. Finally, Bank of New York Mellon Corp increased its position in shares of Ready Capital by 188.9% in the fourth quarter. Bank of New York Mellon Corp now owns 359,112 shares of the real estate investment trust’s stock worth $5,538,000 after acquiring an additional 234,827 shares in the last quarter. 44.95% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Ready Capital (NYSE:RC)

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