Brokerages Expect Ready Capital Co. (NYSE:RC) to Post $0.42 Earnings Per Share

Equities research analysts expect Ready Capital Co. (NYSE:RC) to post earnings per share of $0.42 for the current quarter, Zacks reports. Three analysts have made estimates for Ready Capital’s earnings. The lowest EPS estimate is $0.41 and the highest is $0.43. Ready Capital reported earnings per share of $0.70 in the same quarter last year, which suggests a negative year-over-year growth rate of 40%. The company is expected to announce its next quarterly earnings report on Thursday, August 5th.

According to Zacks, analysts expect that Ready Capital will report full-year earnings of $1.71 per share for the current year, with EPS estimates ranging from $1.61 to $1.80. For the next year, analysts forecast that the business will report earnings of $1.71 per share, with EPS estimates ranging from $1.64 to $1.80. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Ready Capital.

Ready Capital (NYSE:RC) last posted its quarterly earnings data on Thursday, May 6th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.03). Ready Capital had a return on equity of 13.56% and a net margin of 47.10%.

RC has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Ready Capital from a “buy” rating to a “hold” rating in a report on Friday, June 11th. BTIG Research boosted their price target on shares of Ready Capital from $14.00 to $15.50 and gave the stock a “buy” rating in a report on Friday, March 12th. B. Riley boosted their price target on shares of Ready Capital from $16.50 to $17.00 and gave the stock a “buy” rating in a report on Friday, May 28th. Finally, Keefe, Bruyette & Woods raised shares of Ready Capital from a “market perform” rating to an “outperform” rating and set a $15.50 price objective on the stock in a report on Tuesday, April 27th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $15.38.

RC traded up $0.17 during mid-day trading on Thursday, reaching $16.60. 297,844 shares of the stock were exchanged, compared to its average volume of 554,507. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market capitalization of $1.18 billion, a PE ratio of 7.37 and a beta of 1.09. The business has a 50 day moving average of $14.87. Ready Capital has a 1 year low of $7.58 and a 1 year high of $16.63.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Stockholders of record on Wednesday, June 30th will be given a dividend of $0.42 per share. The ex-dividend date is Tuesday, June 29th. This is a boost from Ready Capital’s previous quarterly dividend of $0.10. This represents a $1.68 annualized dividend and a dividend yield of 10.12%. Ready Capital’s dividend payout ratio is currently 22.35%.

In related news, Director Andrea Petro purchased 4,750 shares of the firm’s stock in a transaction dated Thursday, May 13th. The shares were purchased at an average cost of $14.18 per share, for a total transaction of $67,355.00. Following the completion of the transaction, the director now directly owns 4,750 shares in the company, valued at approximately $67,355. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gilbert E. Nathan purchased 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 11th. The shares were bought at an average price of $13.66 per share, for a total transaction of $54,640.00. Following the completion of the transaction, the director now owns 26,953 shares of the company’s stock, valued at $368,177.98. The disclosure for this purchase can be found here. Corporate insiders own 1.67% of the company’s stock.

Several hedge funds have recently bought and sold shares of RC. Metropolitan Life Insurance Co NY bought a new position in shares of Ready Capital in the first quarter worth approximately $90,000. First Trust Advisors LP bought a new position in shares of Ready Capital in the first quarter worth approximately $795,000. SG Americas Securities LLC bought a new position in shares of Ready Capital in the fourth quarter worth approximately $398,000. BlackRock Inc. increased its position in shares of Ready Capital by 2.1% in the fourth quarter. BlackRock Inc. now owns 7,433,048 shares of the real estate investment trust’s stock worth $92,540,000 after purchasing an additional 152,116 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Ready Capital by 24.4% in the fourth quarter. New York State Common Retirement Fund now owns 38,756 shares of the real estate investment trust’s stock worth $483,000 after purchasing an additional 7,600 shares during the last quarter. Institutional investors own 45.51% of the company’s stock.

Ready Capital Company Profile

Ready Capital Corporation, together with its subsidiaries, 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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