Zacks: Analysts Expect Ready Capital Co. (NYSE: RC) to Report Earnings Per Share of $ 0.50
Analysts expect Ready Capital Co. (NYSE: RC) to report earnings of $ 0.50 per share for the current fiscal quarter, according to Zacks. Three analysts provided revenue estimates for Ready Capital, with estimates ranging from $ 0.45 to $ 0.60. Ready Capital reported earnings per share of $ 0.51 for the same quarter last year, suggesting a negative growth rate of 2% year-over-year. The company is expected to release its next quarterly results on Thursday, March 10.
On average, analysts predict that Ready Capital will report annual earnings of $ 2.09 per share for the current fiscal year, with EPS estimates ranging from $ 2.05 to $ 2.18. For the next fiscal year, analysts expect the company to report earnings of $ 1.86 per share, with EPS estimates ranging from $ 1.74 to $ 2.07. Zacks’ earnings per share calculations are an average based on a survey of research analysts who cover Ready Capital.
Ready Capital (NYSE: RC) last released its quarterly earnings data on Thursday, November 4. The REIT reported earnings per share of $ 0.64 for the quarter, beating the consensus estimate of $ 0.46 by $ 0.18. Ready Capital had a net margin of 37.95% and a return on equity of 13.61%. In the same quarter of the previous year, the company posted EPS of $ 0.57.
CR has been the subject of several research analyst reports. B. Riley increased his target price on Ready Capital shares from $ 17.00 to $ 18.00 and assigned the company a “buy” rating in a report released on Friday, December 3. Raymond James increased his price target on Ready Capital shares from $ 16.50 to $ 18.00 and gave the company an “outperformance” rating in a report released on Tuesday, November 9. Finally, Zacks Investment Research upgraded Ready Capital shares from a “hold” rating to a “buy” rating and set a target price of $ 18.00 on the stock in a report released on Wednesday, November 10. One investment analyst rated the stock with a conservation rating and six gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $ 17.29.
The NYSE RC opened at $ 16.38 on Friday. Ready Capital has a twelve month low of $ 11.28 and a twelve month high of $ 16.78. The company has a debt to equity ratio of 0.56, a rapid ratio of 1.55, and a current ratio of 1.55. The stock has a market cap of $ 1.21 billion, a price-to-earnings ratio of 8.36 and a beta of 1.09. The company’s 50-day average mobile price is $ 15.55, and its two-hundred-day average mobile price is $ 15.41.
The company also recently announced a quarterly dividend, which was paid on Friday, October 29. Shareholders of record on Thursday, September 30, received a dividend of $ 0.42 per share. This represents a dividend of $ 1.68 on an annualized basis and a return of 10.26%. The ex-dividend date of this dividend was Wednesday, September 29. Ready Capital’s dividend payout ratio is 85.71%.
In other Ready Capital news, director Gilbert E. Nathan bought 2,000 shares in a trade that took place on Monday, November 15. The shares were purchased at an average price of $ 15.84 per share, for a total value of $ 31,680.00. The acquisition was disclosed in a legal file with the Securities & Exchange Commission, accessible through the SEC website. In addition, CEO Thomas E. Capasse bought 20,000 shares in a transaction that took place on Tuesday, November 30. The stock was acquired at an average cost of $ 24.59 per share, for a total transaction of $ 491,800.00. Disclosure of this purchase can be found here. In the past three months, insiders have acquired 25,000 shares of the company valued at $ 571,390. Company insiders own 1.67% of the company’s shares.
Hedge funds and other institutional investors have recently bought and sold stocks. JPMorgan Chase & Co. increased its stake in Ready Capital by 78.6% during the second quarter. JPMorgan Chase & Co. now owns 408,310 real estate investment trust shares worth $ 6,480,000 after purchasing an additional 179,747 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Ready Capital by 428.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. Now owns 69,505 real estate investment trust shares valued at $ 1,103,000 after purchasing an additional 56,343 shares during the last quarter. LSV Asset Management increased its stake in Ready Capital by 67.0% during the second quarter. LSV Asset Management now owns 84,323 real estate investment trust shares worth $ 1,338,000 after purchasing an additional 33,823 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Ready Capital during the second quarter valued at approximately $ 1,635,000. Finally, PNC Financial Services Group Inc. increased its stake in Ready Capital by 79.0% during the second quarter. PNC Financial Services Group Inc. now owns 2,663 real estate investment trust shares valued at $ 42,000 after purchasing an additional 1,175 shares during the last quarter. 46.53% of the shares are currently held by institutional investors and hedge funds.
Ready Capital Company Profile
Ready Capital Corp. is a real estate finance company that engages in the acquisition, management and financing of small business loans. The company operates in four segments: Acquisitions; SBC origins; SBA creations, acquisitions and services; and Residential mortgage banking services. The Acquisitions segment acquires performing and non-performing SBC loans and intends to continue to acquire these loans as part of the company’s business strategy.
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