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Rithm (RITM) Stock Sinks As Market Gains: What You Should Know
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Rithm (RITM - Free Report) closed at $8.87 in the latest trading session, marking a -0.56% move from the prior day. This move lagged the S&P 500's daily gain of 0.14%. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, added 1.54%.
Coming into today, shares of the real estate investment trust had lost 3.57% in the past month. In that same time, the Finance sector lost 4.43%, while the S&P 500 lost 4.07%.
Wall Street will be looking for positivity from Rithm as it approaches its next earnings report date. In that report, analysts expect Rithm to post earnings of $0.32 per share. This would mark a year-over-year decline of 13.51%. Our most recent consensus estimate is calling for quarterly revenue of $807.88 million, up 258.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.36 per share and revenue of $3.34 billion, which would represent changes of +3.82% and +3.71%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Rithm. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.24% higher. Rithm is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Rithm's current valuation metrics, including its Forward P/E ratio of 6.58. Its industry sports an average Forward P/E of 9.46, so we one might conclude that Rithm is trading at a discount comparatively.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 31% 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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Rithm (RITM) Stock Sinks As Market Gains: What You Should Know
Rithm (RITM - Free Report) closed at $8.87 in the latest trading session, marking a -0.56% move from the prior day. This move lagged the S&P 500's daily gain of 0.14%. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, added 1.54%.
Coming into today, shares of the real estate investment trust had lost 3.57% in the past month. In that same time, the Finance sector lost 4.43%, while the S&P 500 lost 4.07%.
Wall Street will be looking for positivity from Rithm as it approaches its next earnings report date. In that report, analysts expect Rithm to post earnings of $0.32 per share. This would mark a year-over-year decline of 13.51%. Our most recent consensus estimate is calling for quarterly revenue of $807.88 million, up 258.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.36 per share and revenue of $3.34 billion, which would represent changes of +3.82% and +3.71%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Rithm. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.24% higher. Rithm is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Rithm's current valuation metrics, including its Forward P/E ratio of 6.58. Its industry sports an average Forward P/E of 9.46, so we one might conclude that Rithm is trading at a discount comparatively.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 31% 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.