Ready Capital Corporation (NYSE:RC) finished Friday with a subtraction of -$0.07 to close at $11.01, a downside of -0.63 percent. An average of 1,053,800 shares of common stock have been traded in the last five days. There was a fall of -$0.28 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 1,072,590 shares traded, while the 50-day average volume stands at 1,781,350.
RC stock has decreased by -5.57% in the last month. The company shares reached their 1-month lowest point of $10.94 on 08/11/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $9.24 and a high of $13.62 in 52 weeks. It has reached a new high 13 times so far this year and achieved 0.08% or -$0.13 in price. In spite of this, the price is down -19.16% from the 52-week high.
Insider Transactions
RC stock investors should be aware that Ready Capital Corporation (RC) stock had its last reported insider trading activity 348 days ago on Mar 08. In this transaction, the insider spent $41,883. Chief Financial Officer, Ahlborn Andrew, disposed of 1,465 shares at a price of $13.80 on Aug 26. The insider now owns more than $20,217 worth of shares.
Valuation Metrics
Ready Capital Corporation (RC) has a trailing price-to-earnings (P/E) ratio of 8.23. The stock’s beta is 1.42. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.17, the price-to-book (PB) ratio at 0.73, and the price-to-cash flow ratio at 14.14.
The company has a payout ratio of 114.60%. The company’s most recent quarterly dividend payment was $0.14 a share, without any change from last year. Its latest decrease dividend $0.26 reported on Monday May 15 2023.
Financial Health
Further, the company has a long term debt to equity ratio of 5.58 and a total debt to equity ratio of 5.62 for the quarter ending June 29. Its gross profit as reported stood at $688.32 million compared to revenue of $671.17 million.
Earnings Surprise
For the three-month period that ended June 29, Ready Capital Corporation had $2.4 billion in total debt. The analyst consensus anticipated Ready Capital Corporation’s latest quarter earnings to come in at $0.37 per share, but it turned out to be $0.35, a -5.40% surprise. For the quarter, EBITDA amounted to $241.22 million. At the end of the quarter ending June 29, Ready Capital Corporation’s stock balance sheet showed total debt was $9.49 billion. Shareholders own equity worth $171.97 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Ready Capital Corporation (RC) price momentum. RSI 9-day as of the close on 11 August was 37.56%, suggesting the stock is Neutral, with historical volatility in this time frame at 19.04%.
As of today, RC’s price is $11.12 -2.48% or -$0.28 from its 5-day moving average. RC is currently trading -4.18% lower than its 20-day SMA and +13.51% higher than its 100-day SMA. However, the stock’s current price level is +8.90% above the SMA50 and -0.09% below the SMA200.
The stochastic %K and %D were 7.76% and 12.34%, respectively, and the average true range (ATR) was 0.25. With the 14-day stochastic at 7.87% and the average true range at 0.25, the RSI (14) stands at 42.73%. The stock has reached -0.13 on the 9-day MACD Oscillator while the 14-day reading was at -0.28.
Analyst Ratings
Keefe Bruyette downgraded Ready Capital Corporation (NYSE: RC) to a a Mkt perform rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for Ready Capital Corporation (RC) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell RC, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 4 others rate it as a “buy”.
What is RC’s price target for the next 12 months?
Analysts predict a range of price targets between $10.50 and $14.50, with a median target of $13.00. Taking a look at these predictions, the average price target given by analysts for Ready Capital Corporation (RC) stock is $12.69.
