Ready Capital Corporation (NYSE: RC) closed the day trading at $9.89 up 0.61% from the previous closing price of $9.83. In other words, the price has increased by $+0.06 from its previous closing price. On the day, 2071215 shares were traded. RC stock price reached its highest trading level at $10.00 during the session, while it also had its lowest trading level at $9.62.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
For a better understanding of RC, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 6.97 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 7.09. In the meantime, Its Debt-to-Equity ratio is 5.59 whereas as Long-Term Debt/Eq ratio is at 5.56.
Upgrades & Downgrades
On October 20, 2022, UBS started tracking the stock assigning a Neutral rating and target price of $11.
Piper Sandler Downgraded its Overweight to Neutral on July 08, 2021, while the target price for the stock was maintained at $15.50.
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Mar 08 when NATHAN GILBERT E bought 3,841 shares for $11.05 per share. The transaction valued at 42,443 led to the insider holds 60,406 shares of the business.
NATHAN GILBERT E bought 5,000 shares of RC for $54,773 on Mar 07. The Director now owns 56,565 shares after completing the transaction at $10.95 per share. On Mar 03, another insider, Mielle Dominique, who serves as the Director of the company, bought 7,500 shares for $14.15 each. As a result, the insider paid 106,124 and bolstered with 35,988 shares of the company.
As of this moment, Ready’s Price-to-Earnings (P/E) ratio for their current fiscal year is 5.78, and their Forward P/E ratio for the next fiscal year is 5.94. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.41. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.52 while its Price-to-Book (P/B) ratio in mrq is 0.65.
Stock Price History:
Over the past 52 weeks, RC has reached a high of $15.92, while it has fallen to a 52-week low of $9.69. The 50-Day Moving Average of the stock is 12.14, while the 200-Day Moving Average is calculated to be 12.46.
Over the past 3-months, RC traded about 1.11M shares per day on average, while over the past 10 days, RC traded about 2.07M shares per day. A total of 110.78M shares are outstanding, with a floating share count of 109.33M. Insiders hold about 0.10% of the company’s shares, while institutions hold 64.80% stake in the company. Shares short for RC as of Jan 12, 2023 were 3.7M with a Short Ratio of 4.13M, compared to 4.16M on Dec 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 3.35% and a Short% of Float of 4.34%.
Dividends & Splits
RC’s forward annual dividend rate is 1.60, up from 1.30 a year ago. Against a Trailing Annual Dividend Yield of 13.22%, it implies a Forward Annual Dividend Yield of 12.02%. The stock’s 5-year Average Dividend Yield is 11.65.
Current recommendations for the stock of the company come from 8 analysts. On average, analysts expect EPS of $0.42 for the current quarter, with a high estimate of $0.45 and a low estimate of $0.39, while EPS last year was $0.67. The consensus estimate for the next quarter is $0.41, with high estimates of $0.44 and low estimates of $0.38.
Analysts are recommending an EPS of between $1.9 and $1.8 for the fiscal current year, implying an average EPS of $1.86. EPS for the following year is $1.68, with 8 analysts recommending between $1.8 and $1.55.
6 analysts predict $78.37M in revenue for the current quarter. It ranges from a high estimate of $94.9M to a low estimate of $69.43M. As of the current estimate, Ready Capital Corporation’s year-ago sales were $64.69M, an estimated increase of 21.10% from the year-ago figure. For the next quarter, 6 analysts are estimating revenue of $73.94M, an increase of 16.60% less than the figure of $21.10% in the same quarter last year. There is a high estimate of $87.5M for the next quarter, whereas the lowest estimate is $62M.
A total of 6 analysts have provided revenue estimates for RC’s current fiscal year. The highest revenue estimate was $301.6M, while the lowest revenue estimate was $276.19M, resulting in an average revenue estimate of $284.98M. In the same quarter a year ago, actual revenue was $189.94M, up 50.00% from the average estimate. Based on 6 analysts’ estimates, the company’s revenue will be $293.9M in the next fiscal year. The high estimate is $362.2M and the low estimate is $238M. The average revenue growth estimate for next year is up 3.10% from the average revenue estimate for this year.