At the last check on Thursday, Ready Capital Corporation’s (NYSE:RC) stock was down -$0.13, moving down -1.15 percent to $10.77. The average number of shares traded per day over the past five days has been 1,777,430 shares. 3 times new highs have been achieved over the past 5 days, with a -$0.27 fall in that time frame. In the last twenty days, the average volume was 1,089,313, while in the previous 50 days, it was 1,049,121.
Since last month, RC stock rose 3.91%. Shares of the company fell to $10.32 on 08/23/23, the lowest level in the past month. A 52-week high of $13.57 was reached on 02/02/23 after having rallying from a 52-week low of $9.24. Since the beginning of this year, RC’s stock price has dropped by -2.06% or -$0.37, and marked a new high 13 times. However, the stock has declined by -20.59% since its 52-week high.
RC stock investors should be aware that Ready Capital Corporation (RC) stock had its last reported insider trading activity 37 days ago on Aug 15. Capasse Thomas E, the CEO and CIO of the company, disposed of 26,623 shares for $10.70 on Aug 15. It resulted in a $284,866 divestment by the insider. NATHAN GILBERT E added 3,841 shares at an average price of $11.05 on Mar 08. The insider now owns 60,406 shares following the transaction. On Mar 07, Director NATHAN GILBERT E bought 5,000 shares at $10.95 apiece. The transaction was valued at $54,773.
Valuation Metrics
Right now, Ready Capital Corporation (RC) has a P/E ratio of about 4.12. The stock’s beta is 1.42. Besides these, the trailing price-to-sales (P/S) ratio of 1.96, the price-to-book (PB) ratio of 0.57, and the price-to-cash flow ratio of 6.13 may also be considered.
The latest dividend of $0.36 per share was paid out, which is 157.14% more than last year’s $0.14. On Friday September 15 2023, a $0.22 dividend increase was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 3.75, and the total debt-to-equity ratio was 3.77. On the profitability front, the trailing twelve-month gross margin is 31.20% percent. In the year ended June 29, operating margins totaled 31.10%. Based on annual data, RC earned $688.32 million in gross profit and brought in $671.17 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 0.70%. Return on equity (ROE) for the past 12 months was 17.90%.
In Ready Capital Corporation’s quarter-end financial report for June 29, it reported total debt of $2.4 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected Ready Capital Corporation to report $0.37 quarterly earnings, the actual figure was $0.35 per share, beating the consensus estimate by -5.40%. During the quarter, the company generated $241.22 million in EBITDA. The value of shareholders’ equity is $171.97 million.
Technical Picture
This quick technical analysis looks at Ready Capital Corporation’s (RC) price momentum. With a historical volatility rate of 17.14%, the RSI 9-day stood at 43.95% on 20 September.
With respect to its five-day moving average, the current Ready Capital Corporation price is down by -2.45% percent or -$0.27. At present, RC shares trade +1.70% above its 20-day simple moving average and +0.37% percent above its 100-day simple moving average. However, the stock is currently trading approximately -6.18% below its SMA50 and -18.66% below its SMA200.
Stochastic coefficient K was 55.56% and Stochastic coefficient D was 66.30%, while ATR was 0.19. Given the Stochastic reading of 31.48% for the 14-day period, the RSI (14) reading has been calculated as 45.96%. As of today, the MACD Oscillator reading stands at 0.01, while the 14-day reading stands at 0.05.
Analyst Ratings
Ready Capital Corporation downgraded its rating on Ready Capital Corporation (NYSE: RC) to a Mkt perform in a note to investors on December 15, 2022. The analysts firm previously had an Outperform rating on the stock.Ready Capital Corporation (RC) has been rated Overweight by analysts. According to 0 brokerage firms, RC is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Ready Capital Corporation stock as buy, with 4 recommending it as overweight.
With a median target price of $12.50, the current consensus forecast for the stock is $10.50 – $14.50. Based on these forecasts, analysts predict Ready Capital Corporation (RC) will achieve an average price target of $12.56.
