Analysts forecast that Ready Capital Co. (NYSE:RC) will report sales of $21.60 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Ready Capital’s earnings. The highest sales estimate is $23.09 million and the lowest is $20.10 million. Ready Capital reported sales of $22.62 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.5%. The business is scheduled to report its next earnings report on Monday, May 10th.
On average, analysts expect that Ready Capital will report full-year sales of $99.85 million for the current year, with estimates ranging from $88.30 million to $111.40 million. For the next financial year, analysts anticipate that the firm will report sales of $122.44 million, with estimates ranging from $103.60 million to $141.27 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Ready Capital.
Ready Capital (NYSE:RC) last released its earnings results on Wednesday, March 10th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.10. Ready Capital had a net margin of 14.86% and a return on equity of 11.15%.
Hedge funds have recently bought and sold shares of the business. Metropolitan Life Insurance Co NY acquired a new stake in shares of Ready Capital in the first quarter worth $90,000. ProShare Advisors LLC acquired a new stake in shares of Ready Capital in the fourth quarter worth $125,000. Jane Street Group LLC acquired a new stake in shares of Ready Capital in the fourth quarter worth $201,000. Advisory Services Network LLC lifted its stake in shares of Ready Capital by 1,611.8% in the fourth quarter. Advisory Services Network LLC now owns 19,001 shares of the real estate investment trust’s stock worth $236,000 after buying an additional 17,891 shares during the last quarter. Finally, State of Tennessee Treasury Department lifted its stake in shares of Ready Capital by 6.4% in the third quarter. State of Tennessee Treasury Department now owns 22,087 shares of the real estate investment trust’s stock worth $247,000 after buying an additional 1,330 shares during the last quarter. 45.84% of the stock is owned by institutional investors.
Ready Capital stock opened at $13.54 on Thursday. The firm’s 50 day simple moving average is $13.72 and its 200-day simple moving average is $12.56. The company has a market cap of $737.05 million, a P/E ratio of 19.34 and a beta of 1.08. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.73 and a quick ratio of 1.73. Ready Capital has a fifty-two week low of $4.32 and a fifty-two week high of $15.48.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Shareholders of record on Monday, April 5th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.95%. The ex-dividend date is Thursday, April 1st. Ready Capital’s dividend payout ratio is 25.97%.
About Ready Capital
Ready Capital Corporation, together with its subsidiaries, operates as a real estate finance company in the United States. The company originates, acquires, finances, and services small balance commercial (SBC) loans, small business administration (SBA) loans, and residential mortgage loans, as well as mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments.
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