Analysts Anticipate Ready Capital Corp (NYSE:RC) to Post $0.42 Earnings Per Share

Equities research analysts expect Ready Capital Corp (NYSE:RC) to announce earnings of $0.42 per share for the current quarter, according to Zacks. Two analysts have made estimates for Ready Capital’s earnings. Ready Capital posted earnings per share of $0.34 during the same quarter last year, which would suggest a positive year-over-year growth rate of 23.5%. The company is scheduled to announce its next earnings report on Tuesday, March 10th.

On average, analysts expect that Ready Capital will report full-year earnings of $1.55 per share for the current financial year, with EPS estimates ranging from $1.54 to $1.58. For the next financial year, analysts anticipate that the firm will report earnings of $1.73 per share, with EPS estimates ranging from $1.65 to $1.78. 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, November 6th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.01). Ready Capital had a return on equity of 8.19% and a net margin of 26.39%. The business had revenue of $20.33 million during the quarter, compared to analysts’ expectations of $20.75 million.

RC has been the subject of a number of recent analyst reports. Cantor Fitzgerald decreased their price objective on shares of Ready Capital from $17.00 to $16.50 and set a “market outperform” rating for the company in a report on Tuesday, September 3rd. Compass Point lowered shares of Ready Capital from a “buy” rating to a “neutral” rating and set a $16.50 price target for the company. in a research note on Friday, November 8th. Zacks Investment Research upgraded shares of Ready Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. TheStreet upgraded shares of Ready Capital from a “c” rating to a “b-” rating in a research note on Wednesday, August 14th. Finally, B. Riley reissued a “buy” rating and set a $17.00 price target on shares of Ready Capital in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.70.

Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ready Capital by 561.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,094 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 2,626 shares during the last quarter. Bank of Montreal Can grew its position in Ready Capital by 189.6% during the second quarter. Bank of Montreal Can now owns 4,008 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 2,624 shares during the period. Motco bought a new stake in Ready Capital during the second quarter valued at approximately $65,000. BNP Paribas Arbitrage SA purchased a new stake in Ready Capital during the second quarter valued at approximately $68,000. Finally, Metropolitan Life Insurance Co NY purchased a new stake in Ready Capital during the first quarter valued at approximately $90,000. Hedge funds and other institutional investors own 40.56% of the company’s stock.

Ready Capital stock traded down $0.25 during mid-day trading on Wednesday, reaching $15.37. The stock had a trading volume of 1,923,347 shares, compared to its average volume of 227,831. The company has a 50-day moving average price of $15.90 and a two-hundred day moving average price of $15.31. The company has a market capitalization of $704.43 million, a price-to-earnings ratio of 8.73 and a beta of 0.67. Ready Capital has a one year low of $13.44 and a one year high of $16.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.37 and a quick ratio of 1.37.

Ready Capital Company Profile

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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