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

• Ready Capital Corp RC.N reported a quarterly adjusted loss of 14 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 7 cents. The mean expectation of eight analysts for the quarter was for earnings of one cent per share. Wall Street expected results to range from -29 cents to 19 cents per share.

• Revenue fell 66.8% to $16.90 million from a year ago; analysts expected $46.98 million.

• Ready Capital Corp's reported EPS for the quarter was a loss of 34 cents​.

• The company reported a quarterly loss of $57.49 million.

• Ready Capital Corp shares had fallen by 3.4% this quarter and lost 38.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 89.5% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy," 7 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the specialized reits peer group is "buy."

• Wall Street's median 12-month price target for Ready Capital Corp is $5.00, about 15.4% above its last closing price of $4.23

This summary was machine generated from LSEG data August 8 at 05:06 a.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)