Rithm (RITM) ended the recent trading session at $11.29, demonstrating a -1.4% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 1.13% for the day. Elsewhere, the Dow lost 1.79%, while the tech-heavy Nasdaq lost 1.3%.
Coming into today, shares of the real estate investment trust had lost 1.55% in the past month. In that same time, the Finance sector gained 1.24%, while the S&P 500 gained 3.55%.
The investment community will be paying close attention to the earnings performance of Rithm in its upcoming release. It is anticipated that the company will report an EPS of $0.52, marking a 10.64% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.22 billion, reflecting a 0.61% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.1 per share and a revenue of $4.53 billion, indicating changes of 0% and -13.56%, respectively, from the former year.
Any recent changes to analyst estimates for Rithm should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.78% higher. As of now, Rithm holds a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Rithm currently has a Forward P/E ratio of 5.46. This signifies a discount in comparison to the average Forward P/E of 11.21 for its industry.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 137, finds itself in the bottom 45% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Rithm Capital Corp. (RITM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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