Ready Capital (RC) to Release Earnings on Thursday

Ready Capital (NYSE:RC) will announce its earnings results after the market closes on Thursday, November 7th. Analysts expect Ready Capital to post earnings of $0.23 per share for the quarter.

Ready Capital (NYSE:RC) last announced its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.19). Ready Capital had a positive return on equity of 7.32% and a negative net margin of 5.67%. The company had revenue of $234.12 million for the quarter, compared to analyst estimates of $61.77 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. On average, analysts expect Ready Capital to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Ready Capital Stock Down 2.3 %

RC opened at $6.85 on Friday. Ready Capital has a one year low of $6.82 and a one year high of $11.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a market capitalization of $1.15 billion, a P/E ratio of -18.03 and a beta of 1.41. The business’s 50-day simple moving average is $7.64 and its 200-day simple moving average is $8.28.

Ready Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 14.60%. The ex-dividend date of this dividend was Monday, September 30th. Ready Capital’s payout ratio is currently -263.16%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RC shares. Keefe, Bruyette & Woods dropped their target price on Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a report on Monday, August 12th. Piper Sandler cut their price objective on shares of Ready Capital from $9.50 to $8.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Wedbush reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Ready Capital in a report on Monday, August 12th. Finally, BTIG Research assumed coverage on shares of Ready Capital in a report on Friday, July 19th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Ready Capital has an average rating of “Hold” and an average price target of $9.38.

About Ready Capital

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.