Ready Capital Corporation (NYSE:RC) is expected to report third quarter earnings results, after market close, on Wednesday 4th November 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.36 per share.
Looking ahead, the full year income are expected at $ 1.40 per share on the revenues of $ 90.72 million.
Previous Quarter Performance
Ready Capital Corporation came out with income for the second quarter of $ 0.70 per share, from the revenue of $ 19.80 million. The quarterly earnings improved 89.19 percent while revenues fell 6.95 percent compared with the same quarter last year.
Wall street analysts are predicting, RC to report 2Q20 income of $ 0.63 per share from revenue of $ 22.28 million. The bottom line results beat street analysts by $ 0.07 or 11.11 percent, at the same time, top line results fell short of analysts by $ 2.48 million or 11.13 percent.
Stock Performance
Shares of Ready Capital Corporation traded up $ 0.54 or 4.62 percent on Tuesday, reaching $ 12.24 with volume of 278.50 thousand shares. Ready Capital Corporation has traded high as $ 12.36 and has cracked $ 11.82 on the downward trend
According to the previous trading day, closing price of $ 12.24, representing a 198.47 % increase from the 52 week low of $ 3.92 and a 30.77 % decrease over the 52 week high of $ 16.90.
The company has a market capital of $ 671.64 million and is part of the Real Estate sector and REIT – Diversified industry.
Recent Analyst recommendations
- On 30th September 2020, maintained by Piper Sandler at Overweight rating, with $ 13.00 target price.
- On 16th September 2020, maintained by Raymond James at Outperform rating, with $ 12.50 target price.
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. It operates through four segments: Loan Acquisitions; SBC Originations; SBA Originations, Acquisitions and Servicing; and Residential Mortgage Banking.
