FY2024 Earnings Estimate for Ready Capital Issued By Wedbush

Ready Capital Co. (NYSE:RC) – Research analysts at Wedbush reduced their FY2024 EPS estimates for shares of Ready Capital in a report issued on Tuesday, November 12th. Wedbush analyst J. Mccanless now forecasts that the real estate investment trust will post earnings of $0.95 per share for the year, down from their previous estimate of $1.00. Wedbush has a “Neutral” rating and a $9.00 price target on the stock. The consensus estimate for Ready Capital’s current full-year earnings is $0.92 per share. Wedbush also issued estimates for Ready Capital’s Q4 2024 earnings at $0.22 EPS, Q1 2025 earnings at $0.25 EPS, Q2 2025 earnings at $0.27 EPS, Q3 2025 earnings at $0.28 EPS, FY2025 earnings at $1.10 EPS and FY2026 earnings at $1.15 EPS.

Several other research firms have also recently issued reports on RC. Piper Sandler lowered their price objective on Ready Capital from $9.50 to $8.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Keefe, Bruyette & Woods decreased their target price on Ready Capital from $8.00 to $7.75 and set an “underperform” rating on the stock in a research report on Monday, August 12th. Finally, BTIG Research began coverage on Ready Capital in a research report on Friday, July 19th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.38.

Ready Capital Stock Down 1.0 %

Shares of NYSE RC opened at $7.12 on Wednesday. Ready Capital has a 52-week low of $6.65 and a 52-week high of $11.67. The company has a quick ratio of 1.69, a current ratio of 1.67 and a debt-to-equity ratio of 0.54. The company’s 50-day simple moving average is $7.38 and its 200-day simple moving average is $8.16. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -10.16 and a beta of 1.42.

Ready Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a $0.25 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 14.05%. Ready Capital’s dividend payout ratio is presently -142.86%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RC. Janus Henderson Group PLC grew its position in Ready Capital by 131.0% in the first quarter. Janus Henderson Group PLC now owns 168,496 shares of the real estate investment trust’s stock worth $1,539,000 after acquiring an additional 95,562 shares during the period. Clear Harbor Asset Management LLC lifted its stake in shares of Ready Capital by 84.0% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 1,440,250 shares of the real estate investment trust’s stock valued at $10,989,000 after purchasing an additional 657,465 shares during the last quarter. Spire Wealth Management grew its holdings in shares of Ready Capital by 1,115.6% during the 2nd quarter. Spire Wealth Management now owns 168,261 shares of the real estate investment trust’s stock worth $1,376,000 after purchasing an additional 154,419 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Ready Capital by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 98,156 shares of the real estate investment trust’s stock worth $897,000 after purchasing an additional 5,874 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Ready Capital by 29.4% in the 2nd quarter. Van ECK Associates Corp now owns 1,342,070 shares of the real estate investment trust’s stock valued at $10,978,000 after buying an additional 304,750 shares during the period. Hedge funds and other institutional investors own 55.87% 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.