Wall Street brokerages expect Ready Capital Corp (NYSE:RC) to report earnings of $0.36 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Ready Capital’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.38. Ready Capital posted earnings of $0.47 per share in the same quarter last year, which indicates a negative year over year growth rate of 23.4%. The company is scheduled to announce its next quarterly earnings report on Tuesday, August 6th.
According to Zacks, analysts expect that Ready Capital will report full year earnings of $1.59 per share for the current financial year, with EPS estimates ranging from $1.51 to $1.68. For the next financial year, analysts forecast that the firm will report earnings of $1.83 per share, with EPS estimates ranging from $1.81 to $1.85. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Ready Capital.
Ready Capital (NYSE:RC) last released its earnings results on Wednesday, May 8th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.08). The firm had revenue of $12.98 million during the quarter, compared to analysts’ expectations of $15.00 million. Ready Capital had a return on equity of 8.73% and a net margin of 31.79%.
RC traded down $0.07 during trading on Friday, reaching $14.69. 12,554 shares of the company traded hands, compared to its average volume of 209,806. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.44. Ready Capital has a 12-month low of $13.44 and a 12-month high of $17.30. The business’s fifty day simple moving average is $14.82. The stock has a market capitalization of $655.79 million, a P/E ratio of 8.35 and a beta of 0.77.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 10.89%. The ex-dividend date is Thursday, June 27th. Ready Capital’s dividend payout ratio (DPR) is currently 90.91%.
In other Ready Capital news, Director Todd M. Sinai bought 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average cost of $14.74 per share, with a total value of $51,590.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.83% of the company’s stock.
Several hedge funds have recently bought and sold shares of RC. American Financial Group Inc. bought a new stake in Ready Capital in the first quarter worth $21,714,000. TCW Group Inc. bought a new stake in Ready Capital in the first quarter worth $15,382,000. Raymond James & Associates bought a new stake in Ready Capital in the first quarter worth $12,378,000. Almitas Capital LLC bought a new stake in Ready Capital in the first quarter worth $9,790,000. Finally, Weiss Asset Management LP bought a new stake in Ready Capital in the first quarter worth $4,235,000. 36.88% of the stock is owned by hedge funds and other institutional investors.
About Ready Capital
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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