Ready Capital (RC) to Release Quarterly Earnings on Thursday

Ready Capital (NYSE:RC) will issue its quarterly earnings data after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.23 per share for the quarter.

Ready Capital (NYSE:RC) last issued its earnings results on Wednesday, August 7th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.19). Ready Capital had a positive return on equity of 7.32% and a negative net margin of 5.67%. The firm had revenue of $234.12 million during the quarter, compared to analysts’ expectations of $61.77 million. During the same period last year, the business posted $0.35 earnings per share. On average, analysts expect Ready Capital to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Ready Capital Price Performance

Shares of Ready Capital stock opened at $6.85 on Friday. The stock has a market capitalization of $1.15 billion, a P/E ratio of -18.03 and a beta of 1.41. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.52. The business’s fifty day moving average price is $7.64 and its 200 day moving average price is $8.28. Ready Capital has a twelve month low of $6.82 and a twelve month high of $11.67.

Ready Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 14.60%. The ex-dividend date of this dividend was Monday, September 30th. Ready Capital’s dividend payout ratio is currently -263.16%.

Analyst Ratings Changes

RC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reduced their price target on shares of Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a research report on Monday, August 12th. Wedbush restated a “neutral” rating and set a $9.00 target price on shares of Ready Capital in a report on Monday, August 12th. Piper Sandler lowered their price target on Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, BTIG Research initiated coverage on Ready Capital in a research note on Friday, July 19th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ready Capital has a consensus rating of “Hold” and an average target price of $9.38.

Ready Capital Company Profile

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.