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

Ready Capital (NYSE:RC) will announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect Ready Capital to post earnings of $0.29 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Ready Capital Price Performance

Ready Capital stock opened at $8.75 on Tuesday. The stock has a market capitalization of $1.48 billion, a P/E ratio of 3.74 and a beta of 1.41. The company’s fifty day moving average price is $8.75 and its 200 day moving average price is $9.50. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.89 and a current ratio of 1.89. Ready Capital has a 1 year low of $8.25 and a 1 year high of $11.97.

Ready Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 13.72%. The ex-dividend date of this dividend was Wednesday, March 27th. Ready Capital’s payout ratio is 51.28%.

Wall Street Analysts Forecast Growth

RC has been the subject of several research analyst reports. B. Riley restated a “buy” rating and set a $12.00 price target (down previously from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. UBS Group decreased their target price on Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. BTIG Research dropped their price target on Ready Capital from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 price objective (down from $10.00) on shares of Ready Capital in a research note on Monday, March 4th. Finally, StockNews.com cut shares of Ready Capital from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.93.

Insider Buying and Selling

In other news, Director Gilbert E. Nathan purchased 10,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $8.65 per share, with a total value of $86,500.00. Following the transaction, the director now owns 83,099 shares in the company, valued at approximately $718,806.35. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Ready Capital news, Director Kevin M. Luebbers bought 5,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was bought at an average price of $8.43 per share, with a total value of $42,150.00. Following the completion of the purchase, the director now directly owns 119,925 shares in the company, valued at $1,010,967.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gilbert E. Nathan purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $8.65 per share, for a total transaction of $86,500.00. Following the purchase, the director now owns 83,099 shares in the company, valued at $718,806.35. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 17,150 shares of company stock worth $148,280. 0.95% of the stock is owned by corporate insiders.

Ready Capital Company Profile

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.