Ready Capital (RC) Scheduled to Post Quarterly Earnings on Wednesday

Ready Capital (NYSE:RC) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.29 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Ready Capital Trading Down 3.3 %

Shares of RC stock opened at $8.52 on Wednesday. The company’s 50-day moving average price is $8.78 and its 200-day moving average price is $9.54. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.44. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 3.64 and a beta of 1.40. Ready Capital has a twelve month low of $8.25 and a twelve month high of $11.97.

Ready Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.20 annualized dividend and a dividend yield of 14.08%. Ready Capital’s payout ratio is 51.28%.

Analysts Set New Price Targets

RC has been the topic of several recent research reports. StockNews.com cut shares of Ready Capital from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. UBS Group decreased their target price on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. BTIG Research decreased their target price on shares of Ready Capital from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. B. Riley reaffirmed a “buy” rating and issued a $12.00 target price (down previously from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 target price (down previously from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Ready Capital presently has a consensus rating of “Hold” and an average target price of $10.93.

Insider Transactions at Ready Capital

In other Ready Capital news, Director Gilbert E. Nathan purchased 10,000 shares of Ready Capital stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $8.65 per share, with a total value of $86,500.00. Following the completion of the transaction, the director now owns 83,099 shares of the company’s stock, valued at $718,806.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Gilbert E. Nathan bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $8.65 per share, for a total transaction of $86,500.00. Following the completion of the purchase, the director now owns 83,099 shares of the company’s stock, valued at $718,806.35. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kevin M. Luebbers bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were purchased at an average price of $8.43 per share, for a total transaction of $42,150.00. Following the completion of the purchase, the director now directly owns 119,925 shares of the company’s stock, valued at approximately $1,010,967.75. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 17,150 shares of company stock valued at $148,280. 0.95% of the stock is currently owned by corporate insiders.

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.