Ready Capital Corp reports results for the quarter ended in December - Earnings Summary

Ready Capital

28/02/2024 22:15

* Ready Capital Corp  RC.N  reported quarterly adjusted
earnings
of 26 cents​​ per share for the quarter ended in December, lower
than the same quarter last year, when the company reported EPS
of 42 cents.  The mean expectation of nine analysts for the
quarter was for earnings of 32 cents per share. Wall Street
expected results to range from 22 cents to 48 cents per share.
    * Revenue fell 17.4% to $52.54 million from a year ago;
analysts
expected $65.96 million. 
    * Ready Capital Corp's reported EPS for the quarter was 4
cents​.
    * The company reported quarterly net income of $7.76
million.
    * Ready Capital Corp shares had fallen by 12.9% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.9%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * Wall Street's median 12-month price target for Ready
Capital
Corp is $11.00 

This summary was machine generated from LSEG data February 28 at
10:14 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.32           0.26           Missed
 Sep. 30 2023      0.36           0.28           Missed
 Jun. 30 2023      0.37           0.35           Missed
 Mar. 31 2023      0.41           0.30           Missed