Ready Capital Co. (NYSE:RC) Expected to Announce Earnings of $0.55 Per Share

Wall Street analysts expect that Ready Capital Co. (NYSE:RC – Get Rating) will announce earnings per share (EPS) of $0.55 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ready Capital’s earnings, with the highest EPS estimate coming in at $0.73 and the lowest estimate coming in at $0.46. Ready Capital posted earnings per share of $0.52 during the same quarter last year, which indicates a positive year-over-year growth rate of 5.8%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Ready Capital will report full-year earnings of $2.00 per share for the current fiscal year, with EPS estimates ranging from $1.81 to $2.35. For the next financial year, analysts anticipate that the business will report earnings of $1.84 per share, with EPS estimates ranging from $1.82 to $1.86. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Ready Capital.

Ready Capital (NYSE:RC – Get Rating) last released its quarterly earnings data on Thursday, February 24th. The real estate investment trust reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.17. Ready Capital had a net margin of 42.45% and a return on equity of 14.29%. During the same quarter in the previous year, the business earned $0.51 earnings per share.

A number of equities research analysts have recently weighed in on RC shares. Zacks Investment Research downgraded Ready Capital from a “buy” rating to a “hold” rating in a report on Thursday, April 28th. StockNews.com started coverage on Ready Capital in a report on Thursday, March 31st. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $17.42.

RC opened at $14.43 on Monday. Ready Capital has a fifty-two week low of $13.24 and a fifty-two week high of $16.78. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $1.21 billion, a P/E ratio of 6.22 and a beta of 1.05. The stock has a fifty day moving average of $14.98 and a 200-day moving average of $15.18.

The business also recently declared a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Thursday, March 31st were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 11.64%. The ex-dividend date of this dividend was Wednesday, March 30th. Ready Capital’s dividend payout ratio (DPR) is presently 72.41%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Spire Wealth Management raised its stake in Ready Capital by 115.7% during the first quarter. Spire Wealth Management now owns 3,825 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 2,052 shares in the last quarter. Selective Wealth Management Inc. bought a new position in shares of Ready Capital during the 1st quarter worth approximately $63,000. Penserra Capital Management LLC bought a new position in shares of Ready Capital during the 3rd quarter worth approximately $81,000. Metropolitan Life Insurance Co NY purchased a new stake in Ready Capital in the 1st quarter valued at $90,000. Finally, Mutual of America Capital Management LLC raised its position in Ready Capital by 20.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 9,687 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 1,643 shares during the last quarter. 41.03% of the stock is owned by hedge funds and other institutional investors.

Ready Capital Company Profile (Get Rating)

Ready Capital Corporation operates as a real estate finance company in the United States. The company acquires, originates, manages, services, and finances small to medium balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.

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