Ready Capital (RC) Scheduled to Post Earnings on Wednesday

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

Ready Capital Price Performance

NYSE:RC opened at $8.78 on Monday. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $1.48 billion, a P/E ratio of 3.70 and a beta of 1.41. Ready Capital has a 12 month low of $8.25 and a 12 month high of $11.97. The business’s 50-day moving average is $8.76 and its 200 day moving average is $9.51.

Ready Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a $0.30 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 13.67%. Ready Capital’s dividend payout ratio is currently 51.28%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RC. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 target price (down previously from $10.00) on shares of Ready Capital in a research note on Monday, March 4th. StockNews.com cut Ready Capital from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. B. Riley reaffirmed a “buy” rating and set a $12.00 target price (down previously from $13.00) on shares of Ready Capital in a research note on Monday, March 4th. BTIG Research cut their target price on Ready Capital from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Finally, UBS Group dropped their price objective on Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Ready Capital currently has an average rating of “Hold” and a consensus price target of $10.93.

Insiders Place Their Bets

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

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.