Analysts Expect Ready Capital Co. (NYSE:RC) Will Post Quarterly Sales of $81.97 Million

Equities analysts predict that Ready Capital Co. (NYSE:RCGet Rating) will announce $81.97 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Ready Capital’s earnings. The highest sales estimate is $97.78 million and the lowest is $68.13 million. Ready Capital reported sales of $47.63 million during the same quarter last year, which would indicate a positive year over year growth rate of 72.1%. The company is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Ready Capital will report full-year sales of $320.00 million for the current financial year, with estimates ranging from $284.56 million to $338.34 million. For the next financial year, analysts expect that the firm will report sales of $344.91 million, with estimates ranging from $335.11 million to $354.70 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Ready Capital.

Ready Capital (NYSE:RCGet Rating) last issued its quarterly earnings data on Thursday, February 24th. The real estate investment trust reported $0.67 earnings per share (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 period in the prior year, the business posted $0.51 earnings per share.

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

A number of institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY grew its stake in Ready Capital by 6.9% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 14,736 shares of the real estate investment trust’s stock valued at $213,000 after buying an additional 952 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Ready Capital by 4.0% in the 3rd quarter. Voya Investment Management LLC now owns 25,327 shares of the real estate investment trust’s stock valued at $365,000 after purchasing an additional 974 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Ready Capital by 3.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the real estate investment trust’s stock valued at $445,000 after purchasing an additional 1,000 shares during the period. Van ECK Associates Corp boosted its holdings in Ready Capital by 0.3% in the 4th quarter. Van ECK Associates Corp now owns 399,718 shares of the real estate investment trust’s stock valued at $6,248,000 after purchasing an additional 1,024 shares during the period. Finally, Maryland State Retirement & Pension System boosted its holdings in Ready Capital by 4.7% in the 4th quarter. Maryland State Retirement & Pension System now owns 23,471 shares of the real estate investment trust’s stock valued at $367,000 after purchasing an additional 1,050 shares during the period. Institutional investors and hedge funds own 41.03% of the company’s stock.

Shares of RC stock opened at $14.38 on Wednesday. Ready Capital has a 52-week low of $13.24 and a 52-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 50-day simple moving average of $14.94 and a two-hundred day simple moving average of $15.16. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 6.20 and a beta of 1.05.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Thursday, March 31st were paid a $0.42 dividend. The ex-dividend date was Wednesday, March 30th. This represents a $1.68 dividend on an annualized basis and a yield of 11.68%. Ready Capital’s dividend payout ratio is 72.41%.

About Ready Capital (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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