Analysts expect Ready Capital Co. (NYSE: RC) to report $ 60.38 million in revenue for the current fiscal quarter, Zack reports. Three analysts have released estimates for Ready Capital’s earnings. The lowest sales estimate is $ 52.55 million and the highest is $ 65.00 million. Ready Capital posted sales of $ 23.49 million in the same quarter last year, which would indicate a positive growth rate of 157% year-over-year. The company is expected to release its next quarterly earnings report on Thursday, March 10.
On average, analysts expect Ready Capital to report annual revenue of $ 185.65 million for the current fiscal year, with estimates ranging from $ 177.80 million to $ 190.24 million. of dollars. For next year, analysts predict the company will post sales of $ 257.57 million, with estimates ranging from $ 193.30 million to $ 318.61 million. Zacks Investment Research sales averages 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 real estate investment trust reported earnings per share (EPS) of $ 0.64 for the quarter, beating Thomson Reuters consensus estimate of $ 0.46 by $ 0.18. Ready Capital recorded a return on equity of 13.61% and a net margin of 37.95%. In the same quarter of the previous year, the company posted earnings per share of $ 0.57.
RC has been the subject of several research reports. B. Riley increased his target price on Ready Capital from $ 17.00 to $ 18.00 and gave the company a âbuyâ rating in a report released on Friday, December 3. Zacks investment research downgraded Ready Capital from a âholdâ rating to a âbuyâ rating and set a target price of $ 18.00 for the company in a report released on Wednesday, November 10. Finally, Raymond James raised his price target on Ready Capital from $ 16.50 to $ 18.00 and gave the company an “outperformance” rating in a research note on Tuesday, November 9. An equity research analyst rated the stock with a conservation rating and six assigned a buy rating to the company. According to data from MarketBeat.com, Ready Capital has a consensus rating of “Buy” and an average price target of $ 17.29.
In addition, CEO Thomas E. Capasse bought 20,000 shares in a transaction that took place on Tuesday, November 30. The shares were purchased at an average price of $ 24.59 per share, for a total transaction of $ 491,800.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, director Andrea Petro bought 2,000 shares in a trade that took place on Friday, November 12th. The stock was purchased at an average price of $ 16.20 per share, for a total trade of $ 32,400.00. Disclosure of this purchase can be found here. Insiders acquired a total of 25,000 shares of the company valued at $ 571,390 during the last quarter. 1.67% of the shares are currently owned by insiders.
A number of large investors have recently changed their positions in the company. State Street Corp increased its stake in Ready Capital by 2.7% during the 2nd quarter. State Street Corp now owns 2,188,008 shares of the REIT valued at $ 35,639,000 after purchasing an additional 56,892 shares in the last quarter. Geode Capital Management LLC increased its stake in Ready Capital by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,020,019 real estate investment trust shares valued at $ 14,718,000 after purchasing an additional 11,956 shares during the last quarter. Invesco Ltd. increased its stake in Ready Capital by 14.9% during the third quarter. Invesco Ltd. now owns 681,050 real estate investment trust shares valued at $ 9,827,000 after purchasing an additional 88,222 shares during the last quarter. Van ECK Associates Corp increased its stake in Ready Capital shares by 72.7% during the 2nd quarter. Van ECK Associates Corp now owns 516,739 real estate investment trust shares valued at $ 8,201,000 after purchasing an additional 217,588 shares during the period. Finally, Two Sigma Advisers LP increased its stake in Ready Capital by 3.6% during the 3rd quarter. Two Sigma Advisers LP now owns 415,324 real estate investment trust shares valued at $ 5,993,000 after purchasing an additional 14,500 shares during the period. Hedge funds and other institutional investors hold 46.53% of the company’s shares.
Share capital loan opened for $ 15.63 on Friday. Ready Capital has a 52 week low of $ 11.28 and a 52 week 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 company has a market cap of $ 1.15 billion, a P / E ratio of 7.97 and a beta of 1.09. The stock has a 50-day simple moving average of $ 15.77 and a 200-day simple moving average of $ 15.45.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 31. Shareholders of record on Friday, December 31 will receive a dividend of $ 0.42 per share. This represents an annualized dividend of $ 1.68 and a yield of 10.75%. The ex-dividend date is Thursday, December 30. Ready Capital’s payout rate is 85.71%.
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.
Featured Article: Hedge Funds – Risk or Reward?
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [emailÂ protected]
Should you invest $ 1,000 in Ready Capital now?
Before you consider Ready Capital, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold … and Ready Capital was not on the list.
While Ready Capital currently has a âBuyâ rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here