Ready Capital Corporation (NYSE:RC) previous close was $15.88 while the outstanding shares total 56.82M. The firm has a beta of 1.12, a 12-month trailing P/E ratio of 7.05, and a growth ratio of 0.50. RC’s shares traded lower over the last trading session, losing -1.70% on 06/10/21. The shares fell to a low of $15.56 before closing at $15.61. Intraday shares traded counted 0.45 million, which was 27.9% higher than its 30-day average trading volume of 629.84K. The stock’s Relative Strength Index (RSI) is 64.19, with weekly volatility at 2.18% and ATR at 0.36. The RC stock’s 52-week price range has touched low of $7.17 and a $16.15 high.
Investors have identified the REIT – Mortgage company Ready Capital Corporation as an interesting stock but before investments are made there, an in-depth look at its trading activities will have to be conducted. The share is trading with a market value of around $1.10 billion, the company now has both obstacles and catalysts that affect them and they came from their mode of operations. With the company affected by events currently, it is a perfect time to analyze the numbers behind the firm in order to come up with a rather realistic picture of what this stock is.
Ready Capital Corporation (RC) Fundamentals that are to be considered.
RC were able to record -50.2 million as free cash flow during the 08/11/2021 quarter of the year, this saw their quarterly net cash flow reduce by 171.55 million. In cash movements, the company had a total of -50.2 million as operating cash flow.
Potential earnings growth for Ready Capital Corporation (RC)
In order to determine the future investment potential for this stock, we will have to analyze key trends that affect it. During the 08/11/2021 quarter of the year, Ready Capital Corporation recorded a total of 73.37 million in revenue. This figure implies that they witnessed a quarterly year/year change in their earnings with 5.21% coming in sequential stages and their sales for the 08/11/2021 quarter increasing by 11.68%.
What matters though is how it ends. When the core data for the company is broken down, then the stock sounds interesting. The company spent -1.51 million trying to sell their products during the last quarter, with the result yielding a gross income of 74.88 million. This allows shareholders to hold on to 56.82M with the recently reported earning now reading 0.49 cents per share. This is a figure that compared to analyst’s prediction for their 08/11/2021 (0.41 cents a share).
Having a look at the company’s valuation, the company is expected to record 1.79 total earnings per share during the next fiscal year. It is very important though to remember that the importance of trend far outweighs that of outlook. This analysis has been great and getting further updates on RC sounds very interesting.
Is the stock of RC attractive?
In related news, Director, NATHAN GILBERT E bought 3,000 shares of the company’s stock in a transaction that recorded on May 24. The purchase was performed at an average price of 14.66, for a total value of 43,990. As the purchase deal closes, the Director, Petro Andrea now bought 4,750 shares of the company’s stock, valued at 67,355. Also, Director, NATHAN GILBERT E bought 4,000 shares of the company’s stock in a deal that was recorded on May 11. The shares were cost at an average price of 13.66 per share, with a total market value of 54,636. In the last 6 months, insiders have changed their ownership in shares of company stock by 0.30%.
6 out of 7 analysts covering the stock have rated it a Buy, while 0 have maintained a Hold recommendation on Ready Capital Corporation. 0 analysts has assigned a Sell rating on the RC stock. The 12-month mean consensus price target for the company’s shares has been set at $15.93.