RC Stock - Ready Capital Corporation
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $27.35M | $389.94M | $383.33M | $296.34M | $384.65M |
| Gross Profit | $27.35M | $389.94M | $383.33M | $296.34M | $384.65M |
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Income | N/A | N/A | N/A | N/A | N/A |
| Net Income | $-435,755,000 | $339.45M | $194.26M | $157.74M | $44.87M |
| Net Margin | -1593.0% | 87.1% | 50.7% | 53.2% | 11.7% |
| EPS | $-2.63 | $2.26 | $1.32 | $2.17 | $0.81 |
Ready Capital Corporation operates as a real estate finance company in the United States. The company acquires, originates, manages, services, and finances small to medium balance commercial (SBC) loans, small business administration (SBA) loans, residential mortgage loans, and mortgage backed securities collateralized primarily by SBC loans, or other real estate-related investments. It operates through three segments: SBC Lending and Acquisitions; Small Business Lending; and Residential Mortgage Banking. The SBC Lending and Acquisitions segment, through its subsidiary, ReadyCap Commercial, LLC, originate SBC loans secured by stabilized or transitional investor properties using various loan origination channels. The Small Business Lending segment, through its subsidiary, ReadyCap Lending, LLC, acquires, originates, and services owner-occupied loans guaranteed by the SBA under its SBA Section 7(a) Program. The Residential Mortgage Banking segment, through its subsidiary, GMFS, LLC, originates residential mortgage loans. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Sutherland Asset Management Corporation and changed its name to Ready Capital Corporation in September 2018. Ready Capital Corporation was founded in 2007 and is headquartered in New York, New York.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| March 3rd 2025 | Citizens JMP | Downgrade | Market Perform | - |
| January 7th 2025 | B. Riley Securities | Downgrade | Neutral | $10← $12 |
| July 19th 2024 | BTIG Research | Resumed | Neutral | - |
| May 10th 2024 | Ladenburg Thalmann | Downgrade | Neutral | - |
| March 4th 2024 | Keefe Bruyette | Downgrade | Underperform | $8← $10 |
| December 18th 2023 | Raymond James | Downgrade | Market Perform | - |
| December 6th 2023 | UBS | Resumed | Neutral | $10.5 |
| October 23rd 2023 | BTIG Research | Resumed | Buy | $12← $14.5 |
| October 17th 2023 | Wedbush | Initiation | Neutral | $11 |
| December 15th 2022 | Keefe Bruyette | Downgrade | Market Perform | $13 |
| October 20th 2022 | UBS | Initiation | Neutral | $11 |
Earnings History & Surprises
RCEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | May 6, 2026 | — | — | — | — |
Q1 2026 | Mar 2, 2026 | $-0.11 | — | — | — |
Q4 2025 | Nov 6, 2025 | $-0.24 | $-0.94 | -291.7% | ✗ MISS |
Q3 2025 | Aug 7, 2025 | $-0.01 | $-0.14 | -1300.0% | ✗ MISS |
Q2 2025 | May 8, 2025 | $0.12 | $-0.09 | -175.0% | ✗ MISS |
Q1 2025 | Mar 3, 2025 | $0.21 | $0.23 | +9.5% | ✓ BEAT |
Q4 2024 | Nov 8, 2024 | $0.23 | $0.25 | +8.7% | ✓ BEAT |
Q3 2024 | Aug 7, 2024 | $0.26 | $0.07 | -73.1% | ✗ MISS |
Q2 2024 | May 8, 2024 | $0.28 | $0.29 | +3.6% | ✓ BEAT |
Q1 2024 | Feb 27, 2024 | $0.30 | $0.26 | -13.3% | ✗ MISS |
Q4 2023 | Nov 7, 2023 | $0.36 | $0.28 | -22.2% | ✗ MISS |
Q3 2023 | Aug 7, 2023 | $0.36 | $0.35 | -2.8% | ✗ MISS |
Q2 2023 | May 8, 2023 | $0.41 | $0.30 | -26.8% | ✗ MISS |
Q1 2023 | Feb 27, 2023 | $0.41 | $0.42 | +2.4% | ✓ BEAT |
Q4 2022 | Nov 7, 2022 | $0.45 | $0.44 | -2.2% | ✗ MISS |
Q3 2022 | Aug 4, 2022 | $0.46 | $0.46 | 0.0% | = MET |
Q2 2022 | May 5, 2022 | $0.56 | $0.52 | -7.1% | ✗ MISS |
Q1 2022 | Feb 24, 2022 | $0.51 | $0.67 | +31.4% | ✓ BEAT |
Q4 2021 | Nov 4, 2021 | $0.46 | $0.64 | +39.1% | ✓ BEAT |
Q3 2021 | Aug 5, 2021 | $0.45 | $0.52 | +15.6% | ✓ BEAT |
Latest News
UBS Maintains Neutral on Ready Capital, Lowers Price Target to $2.75
📉 NegativeKeefe, Bruyette & Woods Maintains Underperform on Ready Capital, Lowers Price Target to $2.5
📉 NegativeReady Capital Q3 Adj. EPS $(0.94) Misses $(0.12) Estimate, Sales $10.520M Miss $50.316M Estimate
📉 NegativeUBS Maintains Neutral on Ready Capital, Lowers Price Target to $3.5
➖ NeutralKeefe, Bruyette & Woods Maintains Underperform on Ready Capital, Lowers Price Target to $3.5
📉 NegativeReady Capital Non-GAAP EPS of -$0.09, revenue of $40.24M
📉 NegativeFrequently Asked Questions about RC
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