Ready Capital (NYSE:RC) Rating Reiterated by B. Riley

Ready Capital (NYSE:RC)‘s stock had its “buy” rating restated by equities researchers at B. Riley in a report released on Monday, Zacks.com reports. B. Riley also issued estimates for Ready Capital’s Q4 2019 earnings at $0.41 EPS, FY2019 earnings at $1.51 EPS, Q1 2020 earnings at $0.42 EPS, Q2 2020 earnings at $0.43 EPS, FY2020 earnings at $1.75 EPS, Q1 2021 earnings at $0.46 EPS, Q2 2021 earnings at $0.44 EPS, Q3 2021 earnings at $0.45 EPS and Q4 2021 earnings at $0.46 EPS.

Several other brokerages have also recently commented on RC. Zacks Investment Research raised shares of Ready Capital from a “sell” rating to a “hold” rating in a research report on Saturday. Sandler O’Neill raised shares of Ready Capital from a “hold” rating to a “buy” rating and set a $17.50 price target for the company in a research report on Monday, December 23rd. Finally, Compass Point cut shares of Ready Capital from a “buy” rating to a “neutral” rating and set a $16.50 price target for the company. in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Ready Capital presently has a consensus rating of “Hold” and an average price target of $17.10.

Ready Capital stock opened at $15.63 on Monday. Ready Capital has a fifty-two week low of $14.30 and a fifty-two week high of $16.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a 50 day moving average price of $15.52 and a 200 day moving average price of $15.43. The company has a market capitalization of $810.68 million, a PE ratio of 8.88 and a beta of 0.66.

Ready Capital (NYSE:RC) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.01). Ready Capital had a net margin of 26.39% and a return on equity of 8.19%. The company had revenue of $20.33 million during the quarter, compared to analyst estimates of $20.75 million. As a group, equities research analysts forecast that Ready Capital will post 1.55 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co NY purchased a new stake in shares of Ready Capital during the 1st quarter worth $90,000. First Trust Advisors LP purchased a new stake in shares of Ready Capital during the 1st quarter worth $795,000. Wells Fargo & Company MN lifted its position in shares of Ready Capital by 8.5% during the 2nd quarter. Wells Fargo & Company MN now owns 172,438 shares of the real estate investment trust’s stock worth $2,569,000 after purchasing an additional 13,470 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Ready Capital by 66.6% during the 2nd quarter. Prudential Financial Inc. now owns 72,361 shares of the real estate investment trust’s stock worth $1,078,000 after purchasing an additional 28,930 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Ready Capital by 189.6% during the 2nd quarter. Bank of Montreal Can now owns 4,008 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 2,624 shares during the last quarter. 40.62% of the stock is owned by institutional investors.

Ready Capital Company Profile

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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