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

Ready Capital

09/05/2024 20:14

* Ready Capital Corp  RC.N  reported quarterly adjusted
earnings
of 29 cents​​ per share for the quarter ended in January, lower
than the same quarter last year, when the company reported EPS
of 30 cents.  The mean expectation of seven analysts for the
quarter was for earnings of 26 cents per share. Wall Street
expected results to range from 16 cents to 32 cents per share.
    * Revenue fell 15.1% to $48.55 million from a year ago;
analysts
expected $81.64 million. 
    * Ready Capital Corp's reported EPS for the quarter was a
loss
of 44 cents​.
    * The company reported a quarterly loss of $76.28 million.
    * Ready Capital Corp shares had fallen by 7.4% this
quarter and
lost 17.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 12.3%
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 "hold"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 4
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the specialized
reits
peer group is also "hold"

Wall Street's median 12-month price target for Ready Capital
Corp is $9.50 
This summary was machine generated from LSEG data May 9 at 07:13
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
 Mar. 31 2024      0.26           0.29           Beat
 Dec. 31 2023      0.32           0.26           Missed
 Sep. 30 2023      0.36           0.28           Missed
 Jun. 30 2023      0.37           0.35           Missed