After finishing at $9.03 in the prior trading day, Ready Capital Corp (NYSE: RC) closed at $8.93, down -1.11%. In other words, the price has decreased by $+0.20 from its previous closing price. On the day, 1814105 shares were traded. RC stock price reached its highest trading level at $8.95 during the session, while it also had its lowest trading level at $8.80.
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Ratios:
Our goal is to gain a better understanding of RC by taking a closer look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 9.14 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 46.60. In the meantime, Its Debt-to-Equity ratio is 3.60 whereas as Long-Term Debt/Eq ratio is at 3.34.
Upgrades & Downgrades
In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Keefe Bruyette on March 04, 2024, Downgraded its rating to Underperform and sets its target price to $8 from $10 previously.
Insider Transactions:
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 22 ’24 when NATHAN GILBERT E bought 7,000 shares for $9.12 per share. The transaction valued at 63,832 led to the insider holds 7,000 shares of the business.
NATHAN GILBERT E bought 2,150 shares of RC for $19,629 on Mar 22 ’24. The Director now owns 85,249 shares after completing the transaction at $9.13 per share. On Mar 14 ’24, another insider, NATHAN GILBERT E, who serves as the Director of the company, bought 10,000 shares for $8.65 each. As a result, the insider paid 86,475 and bolstered with 83,099 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, RC now has a Market Capitalization of 1.54B. As of this moment, Ready’s Price-to-Earnings (P/E) ratio for their current fiscal year is 3.87, and their Forward P/E ratio for the next fiscal year is 7.29. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.27. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.28 while its Price-to-Book (P/B) ratio in mrq is 0.63. Its current Enterprise Value per Revenue stands at 7.54 whereas that against EBITDA is 15.96.
Stock Price History:
Over the past 52 weeks, RC has reached a high of $11.97, while it has fallen to a 52-week low of $8.30. The 50-Day Moving Average of the stock is 9.12, while the 200-Day Moving Average is calculated to be 10.22.
Shares Statistics:
The stock has traded on average 1.50M shares per day over the past 3-months and 1.57M shares per day over the last 10 days, according to various share statistics. A total of 172.28M shares are outstanding, with a floating share count of 170.90M. Insiders hold about 0.96% of the company’s shares, while institutions hold 58.08% stake in the company. Shares short for RC as of Feb 29, 2024 were 9.39M with a Short Ratio of 6.28, compared to 8.24M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 5.44% and a Short% of Float of 5.49%.
Dividends & Splits
In the trailing 12 months, RC’s forward annual dividend rate was 1.46, compared to 1.50 this year. Against a Trailing Annual Dividend Yield of 16.72%, it implies a Forward Annual Dividend Yield of 12.32%. The stock’s 5-year Average Dividend Yield is 12.21.
Earnings Estimates
Its stock is currently analyzed by 7 different market analysts. On average, analysts expect EPS of $0.27 for the current quarter, with a high estimate of $0.35 and a low estimate of $0.16, while EPS last year was $0.3. The consensus estimate for the next quarter is $0.27, with high estimates of $0.34 and low estimates of $0.15.
Analysts are recommending an EPS of between $1.38 and $0.65 for the fiscal current year, implying an average EPS of $1.11. EPS for the following year is $1.2, with 6 analysts recommending between $1.4 and $0.81.
Revenue Estimates
5 analysts predict $76.37M in revenue for the current quarter. It ranges from a high estimate of $121.6M to a low estimate of $52M. As of the current estimate, Ready Capital Corp’s year-ago sales were $76.68M, an estimated decrease of -0.40% from the year-ago figure. For the next quarter, 5 analysts are estimating revenue of $66.42M, a decrease of -29.10% less than the figure of -$0.40% in the same quarter last year. There is a high estimate of $77.5M for the next quarter, whereas the lowest estimate is $52M.
A total of 5 analysts have provided revenue estimates for RC’s current fiscal year. The highest revenue estimate was $372.3M, while the lowest revenue estimate was $217M, resulting in an average revenue estimate of $293.81M. In the same quarter a year ago, actual revenue was $229.35M, up 28.10% from the average estimate. Based on 5 analysts’ estimates, the company’s revenue will be $353.83M in the next fiscal year. The high estimate is $489.7M and the low estimate is $259M. The average revenue growth estimate for next year is up 20.40% from the average revenue estimate for this year.
