Brokerages Anticipate Ready Capital Corp (NYSE:RC) to Announce $0.73 EPS

Brokerages predict that Ready Capital Corp (NYSE:RC) will report earnings of $0.73 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Ready Capital’s earnings. The highest EPS estimate is $0.84 and the lowest is $0.52. Ready Capital reported earnings of $0.40 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 82.5%. The business is scheduled to issue its next earnings report on Wednesday, November 4th.

According to Zacks, analysts expect that Ready Capital will report full-year earnings of $1.41 per share for the current fiscal year, with EPS estimates ranging from $1.35 to $1.45. For the next year, analysts expect that the firm will post earnings of $1.34 per share, with EPS estimates ranging from $1.06 to $1.58. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Ready Capital.

Ready Capital (NYSE:RC) last issued its earnings results on Thursday, August 6th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). Ready Capital had a net margin of 6.20% and a return on equity of 9.82%.

A number of brokerages have recently weighed in on RC. Raymond James upped their target price on Ready Capital from $11.50 to $12.50 and gave the company an “outperform” rating in a report on Wednesday, September 16th. LADENBURG THALM/SH SH upgraded Ready Capital from a “neutral” rating to a “buy” rating in a report on Friday, August 7th. JMP Securities increased their price objective on Ready Capital from $10.00 to $11.00 and gave the stock a “market outperform” rating in a report on Thursday, June 18th. Zacks Investment Research downgraded Ready Capital from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, ValuEngine upgraded Ready Capital from a “strong sell” rating to a “sell” rating in a report on Thursday, June 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $13.36.

Shares of RC traded down $0.12 during trading hours on Friday, reaching $11.08. The company’s stock had a trading volume of 26,211 shares, compared to its average volume of 554,932. The firm has a market cap of $614.58 million, a price-to-earnings ratio of 32.09 and a beta of 1.08. Ready Capital has a 1-year low of $3.92 and a 1-year high of $16.90. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $10.51 and a two-hundred day moving average of $8.08.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.20 dividend on an annualized basis and a yield of 10.83%. This is a boost from Ready Capital’s previous quarterly dividend of $0.25. Ready Capital’s dividend payout ratio is presently 64.94%.

A number of institutional investors have recently made changes to their positions in RC. Metropolitan Life Insurance Co NY bought a new stake in Ready Capital during the first quarter worth approximately $90,000. First Trust Advisors LP bought a new position in Ready Capital in the first quarter worth $795,000. BlackRock Inc. lifted its position in 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 purchasing an additional 353,487 shares during the period. American International Group Inc. lifted its position in Ready Capital by 7.7% in the first quarter. American International Group Inc. now owns 25,007 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 1,787 shares during the period. Finally, Aperio Group LLC bought a new position in Ready Capital in the first quarter worth $290,000. 45.75% 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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Earnings History and Estimates for Ready Capital (NYSE:RC)

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