Ready Capital Corp reports results for the quarter ended September 30 - Earnings Summary

Ready Capital

08/11/2024 16:30

* Ready Capital Corp  RC.N  reported a quarterly adjusted
loss
of 28 cents​​ per share for the quarter ended September 30,
lower than the same quarter last year, when the company reported
EPS of 28 cents.  The mean expectation of nine analysts for the
quarter was for earnings of 23 cents per share. Wall Street
expected results to range from 6 cents to 30 cents per share.
    * Revenue fell 13.6% to $50.97 million from a year ago;
analysts
expected $55.52 million. 
    * Ready Capital Corp's reported EPS for the quarter was a
loss
of 7 cents​.
    * The company reported a quarterly loss of $11.31 million.
    * Ready Capital Corp shares had fallen by 8.3% this
quarter and
lost 31.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 13.1%
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 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 8.25 
This summary was machine generated from LSEG data November 8 at
04:30 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
 Sep. 30 2024      0.23           -0.28          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