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

Ready Capital

08/08/2024 08:38

* Ready Capital Corp  RC.N  reported quarterly adjusted
earnings
of 7 cents​​ per share for the quarter ended in June, lower than
the same quarter last year, when the company reported EPS of 35
cents.  The mean expectation of nine analysts for the quarter
was for earnings of 24 cents per share. Wall Street expected
results to range from 7 cents to 30 cents per share.
    * Revenue fell 15.6% to $50.95 million from a year ago;
analysts
expected $70.29 million. 
    * Ready Capital Corp's reported EPS for the quarter was a
loss
of 23 cents​.
    * The company reported a quarterly loss of $38.02 million.
    * Ready Capital Corp shares had risen by 7.0% this
quarter and
lost 14.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.1%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 6
"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 $9.25 
This summary was machine generated from LSEG data August 8 at
07:38 a.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
 Jun. 30 2024      0.24           0.07           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