Ready Capital (RC) Scheduled to Post Quarterly Earnings on Thursday

Ready Capital (NYSE:RC - Get Free Report) is scheduled to be releasing its earnings data after the market closes on Thursday, November 7th. Analysts expect Ready Capital to post earnings of $0.23 per share for the quarter. Parties that are interested in participating in the company's conference call can do so using this link.

Ready Capital (NYSE:RC - Get Free Report) last posted its 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 business had revenue of $234.12 million during the quarter, compared to the consensus estimate of $61.77 million. During the same period in the prior year, the firm 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 1.4 %

Shares of RC stock traded down $0.09 on Friday, hitting $6.76. The company's stock had a trading volume of 1,489,254 shares, compared to its average volume of 1,551,092. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -17.78 and a beta of 1.41. Ready Capital has a fifty-two week low of $6.73 and a fifty-two week high of $11.67. The firm's fifty day moving average price is $7.61 and its 200-day moving average price is $8.27. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.69 and a quick ratio of 1.69.

Ready Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.80%. Ready Capital's dividend payout ratio is currently -263.16%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RC. BTIG Research started coverage on Ready Capital in a research note on Friday, July 19th. They issued a "neutral" rating on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Ready Capital from $8.00 to $7.75 and set an "underperform" rating for the company in a research note on Monday, August 12th. Piper Sandler lowered their target price on shares of Ready Capital from $9.50 to $8.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. Finally, Wedbush reiterated a "neutral" rating and issued a $9.00 target price on shares of Ready Capital in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Ready Capital has a consensus rating of "Hold" and a consensus 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.