Brokerages Expect Ready Capital Corp (NYSE:RC) Will Announce Quarterly Sales of $22.55 Million

Wall Street brokerages expect that Ready Capital Corp (NYSE:RC) will report sales of $22.55 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ready Capital’s earnings, with the lowest sales estimate coming in at $20.20 million and the highest estimate coming in at $24.90 million. Ready Capital reported sales of $14.96 million in the same quarter last year, which indicates a positive year over year growth rate of 50.7%. The firm is expected to announce its next quarterly earnings results on Tuesday, March 10th.

On average, analysts expect that Ready Capital will report full year sales of $78.67 million for the current year, with estimates ranging from $74.80 million to $82.54 million. For the next fiscal year, analysts anticipate that the firm will post sales of $99.05 million, with estimates ranging from $86.40 million to $111.69 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Ready Capital.

Ready Capital (NYSE:RC) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The business had revenue of $20.33 million for the quarter, compared to the consensus estimate of $20.75 million. Ready Capital had a net margin of 26.39% and a return on equity of 8.19%.

A number of brokerages have commented on RC. Compass Point cut Ready Capital from a “buy” rating to a “neutral” rating and set a $16.50 target price for the company. in a report on Friday, November 8th. B. Riley reiterated a “buy” rating and issued a $17.00 price objective on shares of Ready Capital in a research report on Thursday. TheStreet upgraded shares of Ready Capital from a “c” rating to a “b-” rating in a research report on Wednesday, August 14th. Cantor Fitzgerald dropped their price objective on Ready Capital from $17.00 to $16.50 and set a “market outperform” rating for the company in a research note on Tuesday, September 3rd. Finally, Zacks Investment Research raised shares of Ready Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $16.70.

Institutional investors and hedge funds have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ready Capital by 561.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,094 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 2,626 shares in the last quarter. Bank of Montreal Can increased its stake in Ready Capital by 189.6% in the second quarter. Bank of Montreal Can now owns 4,008 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 2,624 shares during the last quarter. Motco purchased a new position in Ready Capital in the second quarter valued at approximately $65,000. BNP Paribas Arbitrage SA acquired a new stake in Ready Capital during the second quarter worth approximately $68,000. Finally, Synovus Financial Corp raised its holdings in Ready Capital by 11.9% during the third quarter. Synovus Financial Corp now owns 5,901 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 629 shares in the last quarter. Institutional investors and hedge funds own 39.84% of the company’s stock.

Shares of RC stock opened at $15.49 on Friday. Ready Capital has a 52-week low of $13.44 and a 52-week high of $16.90. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.53. The stock has a market cap of $731.97 million, a PE ratio of 8.80 and a beta of 0.67. The business has a 50-day simple moving average of $15.91 and a 200-day simple moving average of $15.31.

About Ready Capital

Ready Capital Corporation 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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