Rithm (RITM) Outpaces Stock Market Gains: What You Should Know
Rithm (RITM) closed the most recent trading day at $11.39, moving +2.15% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.01%. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.44%.
Prior to today’s trading, shares of the real estate investment trust had lost 0.54% lagged the Finance sector’s gain of 1.95% and the S&P 500’s gain of 0.86%.
Analysts and investors alike will be keeping a close eye on the performance of Rithm in its upcoming earnings disclosure. The company’s upcoming EPS is projected at $0.54, signifying a 10.00% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.37 billion, down 34.89% from the year-ago period.
RITM’s full-year Zacks Consensus Estimates are calling for earnings of $2.14 per share and revenue of $4.46 billion. These results would represent year-over-year changes of +1.9% and 0%, respectively.
It’s also important for investors to be aware of any recent modifications to analyst estimates for Rithm. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.09% higher within the past month. Right now, Rithm possesses a Zacks Rank of #2 (Buy).
In the context of valuation, Rithm is at present trading with a Forward P/E ratio of 4.8. For comparison, its industry has an average Forward P/E of 11.79, which means Rithm is trading at a discount to the group.
The Financial – Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 164, positioning it in the bottom 34% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Rithm Capital Corp. (RITM) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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