Ready Capital Co. (NYSE:RC) is expected to report quarterly sales of $71.51 million

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Wall Street analysts expect Ready Capital Co. (NYSE:RC – Get Rating) to post revenue of $71.51 million for the current quarter, reports Zacks Investment Research. Three analysts provided earnings estimates for Ready Capital, with the highest sales estimate at $81.09 million and the lowest estimate at $58.54 million. Ready Capital reported sales of $22.61 million in the same quarter last year, suggesting a positive year-over-year growth rate of 216.3%. The company is expected to release its next earnings report on Monday, January 1.

According to Zacks, analysts expect Ready Capital to report annual sales of $293.66 million for the current fiscal year, with estimates ranging from $205.55 million to $338.34 million. For next year, analysts expect the company to post sales of $276.77 million, with estimates ranging from $198.84 million to $354.70 million. Zacks sales averages are an average based on a survey of sell-side research analysts who cover Ready Capital.

Ready Capital (NYSE:RC – Get Rating) last released its quarterly earnings data on Thursday, February 24. The real estate investment trust reported earnings per share (EPS) of $0.67 for the quarter, beating consensus analyst estimates of $0.50 by $0.17. Ready Capital had a net margin of 39.09% and a return on equity of 14.56%. During the same period of the previous year, the company achieved EPS of $0.51.

RC has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Ready Capital from a “hold” rating to a “strong-buy” rating and set a price target of $17.00 for the company in a Thursday, March 3 research report. B. Riley raised his price target on shares of Ready Capital from $17.00 to $18.00 and gave the stock a “buy” rating in a Friday, Dec. 3 research report. One equity research analyst gave the stock a hold rating, five gave the stock a buy rating and one gave the stock a strong buy rating. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $17.14.

RC opened at $15.69 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt ratio of 0.77. The company has a 50-day moving average price of $14.76 and a 200-day moving average price of $15.25. Ready Capital has a 12-month low of $13.07 and a 12-month high of $16.78. The stock has a market capitalization of $1.31 billion, a price-earnings ratio of 7.30 and a beta of 1.08.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 29. Shareholders of record on Thursday, March 31 will receive a dividend of $0.42. This represents a dividend of $1.68 on an annualized basis and a dividend yield of 10.71%. The ex-dividend date is Wednesday, March 30. Ready Capital’s dividend payout ratio is currently 78.14%.

Hedge funds have recently increased or reduced their holdings in the stock. TCI Wealth Advisors Inc. increased its equity stake in Ready Capital by 1,587.9% during Q3. TCI Wealth Advisors Inc. now owns 2,228 shares of the real estate investment trust worth $32,000 after buying 2,096 additional shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Ready Capital during Q3 valued at approximately $81,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Ready Capital during Q1 worth approximately $90,000. LPL Financial LLC acquired a new position in shares of Ready Capital during Q3 valued at approximately $156,000. Finally, Advisory Services Network LLC strengthened its position in Ready Capital shares by 7.8% in the 3rd quarter. Advisory Services Network LLC now owns 12,024 shares of the real estate investment trust worth $173,000 after acquiring 872 additional shares in the last quarter. Institutional investors hold 42.94% of the company’s shares.

About Ready Capital (Get an assessment)

Ready Capital Corp. is a real estate finance company engaged in the acquisition, servicing and financing of low balance commercial loans. The Company operates in four segments: Acquisitions, SBC Originations, SBA Originations, Acquisitions & Servicing, and Residential Mortgage Banking. The Acquisitions segment acquires performing and non-performing SBC loans and intends to continue to acquire these loans as part of the company’s business strategy.

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