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

Ready Capital (NYSE:RC) is scheduled to 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. Persons interested in registering for the company’s earnings conference call can do so using this link.

Ready Capital Trading Down 3.3 %

Shares of NYSE RC opened at $8.52 on Wednesday. Ready Capital has a 12 month low of $8.25 and a 12 month high of $11.97. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 3.64 and a beta of 1.40. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $8.78 and a 200-day simple moving average of $9.54.

Ready Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 14.08%. The ex-dividend date of this dividend was Wednesday, March 27th. Ready Capital’s dividend payout ratio is 51.28%.

Insiders Place Their Bets

In other news, Director Kevin M. Luebbers bought 5,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were bought at an average cost of $8.43 per share, with a total value of $42,150.00. Following the transaction, the director now directly owns 119,925 shares in the company, valued at approximately $1,010,967.75. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Kevin M. Luebbers bought 5,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were bought at an average cost of $8.43 per share, with a total value of $42,150.00. Following the transaction, the director now directly owns 119,925 shares in the company, valued at approximately $1,010,967.75. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gilbert E. Nathan bought 10,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $8.65 per share, for a total transaction of $86,500.00. Following the completion of the transaction, the director now owns 83,099 shares in the company, valued at $718,806.35. The disclosure for this purchase can be found here. Insiders have bought a total of 17,150 shares of company stock valued at $148,280 in the last three months. Insiders own 0.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on RC shares. UBS Group dropped their price target 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. StockNews.com lowered Ready Capital from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. B. Riley reissued a “buy” rating and set a $12.00 price target (down from $13.00) on shares of Ready Capital in a research report on Monday, March 4th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $8.00 price target (down from $10.00) on shares of Ready Capital in a research report on Monday, March 4th. Finally, BTIG Research dropped their price target on Ready Capital from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.93.

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.