In the latest trading session, Ready Capital (RC) closed at $15.50, marking a +0.52% move from the previous day. This move outpaced the S&P 500’s daily gain of 0.08%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.42%.
Prior to today’s trading, shares of the real estate investment trust had gained 1.18% over the past month. This has lagged the Finance sector’s gain of 5.73% and outpaced the S&P 500’s gain of 0.22% in that time.
Wall Street will be looking for positivity from Ready Capital as it approaches its next earnings report date. On that day, Ready Capital is projected to report earnings of $0.50 per share, which would represent a year-over-year decline of 1.96%. Meanwhile, our latest consensus estimate is calling for revenue of $60.38 million, up 157.06% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Ready Capital. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Ready Capital is currently a Zacks Rank #2 (Buy).
Looking at its valuation, Ready Capital is holding a Forward P/E ratio of 8.29. This valuation marks a discount compared to its industry’s average Forward P/E of 9.
The REIT and Equity Trust industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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