Analysts expect Ready Capital Co. (NYSE: RC) to report $ 60.38 million in revenue for the current fiscal quarter, Zack reports. Three analysts have released estimates for Ready Capital’s earnings. The lowest sales estimate is $ 52.55 million and the highest is $ 65.00 million. Ready Capital posted sales of $ 23.49 million in the same quarter last year, which would indicate a positive growth rate of 157% year-over-year. The company is expected to release its next quarterly earnings report on Thursday, March 10.
On average, analysts expect Ready Capital to report annual revenue of $ 185.65 million for the current fiscal year, with estimates ranging from $ 177.80 million to $ 190.24 million. of dollars. For next year, analysts predict the company will post sales of $ 257.57 million, with estimates ranging from $ 193.30 million to $ 318.61 million. Zacks Investment Research sales averages are an average based on a survey of research analysts who cover Ready Capital.
Ready Capital (NYSE: RC) last released its quarterly earnings data on Thursday, November 4. The real estate investment trust reported earnings per share (EPS) of $ 0.64 for the quarter, beating Thomson Reuters consensus estimate of $ 0.46 by $ 0.18. Ready Capital recorded a return on equity of 13.61% and a net margin of 37.95%. In the same quarter of the previous year, the company posted earnings per share of $ 0.57.
RC has been the subject of several research reports. B. Riley increased his target price on Ready Capital from $ 17.00 to $ 18.00 and gave the company a “buy” rating in a report released on Friday, December 3. Zacks investment research downgraded Ready Capital from a “hold” rating to a “buy” rating and set a target price of $ 18.00 for the company in a report released on Wednesday, November 10. Finally, Raymond James raised his price target on Ready Capital from $ 16.50 to $ 18.00 and gave the company an “outperformance” rating in a research note on Tuesday, November 9. An equity research analyst rated the stock with a conservation rating and six assigned a buy rating to the company. According to data from MarketBeat.com, Ready Capital has a consensus rating of “Buy” and an average price target of $ 17.29.
In addition, CEO Thomas E. Capasse bought 20,000 shares in a transaction that took place on Tuesday, November 30. The shares were purchased at an average price of $ 24.59 per share, for a total transaction of $ 491,800.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, director Andrea Petro bought 2,000 shares in a trade that took place on Friday, November 12th. The stock was purchased at an average price of $ 16.20 per share, for a total trade of $ 32,400.00. Disclosure of this purchase can be found here. Insiders acquired a total of 25,000 shares of the company valued at $ 571,390 during the last quarter. 1.67% of the shares are currently owned by insiders.
A number of large investors have recently changed their positions in the company. State Street Corp increased its stake in Ready Capital by 2.7% during the 2nd quarter. State Street Corp now owns 2,188,008 shares of the REIT valued at $ 35,639,000 after purchasing an additional 56,892 shares in the last quarter. Geode Capital Management LLC increased its stake in Ready Capital by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,020,019 real estate investment trust shares valued at $ 14,718,000 after purchasing an additional 11,956 shares during the last quarter. Invesco Ltd. increased its stake in Ready Capital by 14.9% during the third quarter. Invesco Ltd. now owns 681,050 real estate investment trust shares valued at $ 9,827,000 after purchasing an additional 88,222 shares during the last quarter. Van ECK Associates Corp increased its stake in Ready Capital shares by 72.7% during the 2nd quarter. Van ECK Associates Corp now owns 516,739 real estate investment trust shares valued at $ 8,201,000 after purchasing an additional 217,588 shares during the period. Finally, Two Sigma Advisers LP increased its stake in Ready Capital by 3.6% during the 3rd quarter. Two Sigma Advisers LP now owns 415,324 real estate investment trust shares valued at $ 5,993,000 after purchasing an additional 14,500 shares during the period. Hedge funds and other institutional investors hold 46.53% of the company’s shares.
Share capital loan opened for $ 15.63 on Friday. Ready Capital has a 52 week low of $ 11.28 and a 52 week high of $ 16.78. The company has a debt to equity ratio of 0.56, a rapid ratio of 1.55, and a current ratio of 1.55. The company has a market cap of $ 1.15 billion, a P / E ratio of 7.97 and a beta of 1.09. The stock has a 50-day simple moving average of $ 15.77 and a 200-day simple moving average of $ 15.45.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 31. Shareholders of record on Friday, December 31 will receive a dividend of $ 0.42 per share. This represents an annualized dividend of $ 1.68 and a yield of 10.75%. The ex-dividend date is Thursday, December 30. Ready Capital’s payout rate is 85.71%.
Ready Capital Company Profile
Ready Capital Corp. is a real estate finance company that engages in the acquisition, management and financing of small business loans. The company operates in four segments: Acquisitions; SBC origins; SBA creations, acquisitions and services; and Residential mortgage banking services. The Acquisitions segment acquires performing and non-performing SBC loans and intends to continue to acquire these loans as part of the company’s business strategy.
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