We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Rithm (RITM) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
Rithm (RITM - Free Report) closed at $8.04 in the latest trading session, marking a -0.25% move from the prior day. This move lagged the S&P 500's daily gain of 0.09%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.98%.
Prior to today's trading, shares of the real estate investment trust had gained 6.33% over the past month. This has outpaced the Finance sector's gain of 5.3% and the S&P 500's gain of 4.59% in that time.
Wall Street will be looking for positivity from Rithm as it approaches its next earnings report date. This is expected to be May 4, 2023. The company is expected to report EPS of $0.32, down 13.51% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $807.88 million, up 258.4% from the year-ago period.
RITM's full-year Zacks Consensus Estimates are calling for earnings of $1.36 per share and revenue of $3.34 billion. These results would represent year-over-year changes of +3.82% and +3.71%, respectively.
It is also important to note the 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Rithm is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Rithm is holding a Forward P/E ratio of 5.95. This represents a discount compared to its industry's average Forward P/E of 9.22.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Rithm (RITM) Stock Sinks As Market Gains: What You Should Know
Rithm (RITM - Free Report) closed at $8.04 in the latest trading session, marking a -0.25% move from the prior day. This move lagged the S&P 500's daily gain of 0.09%. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq gained 0.98%.
Prior to today's trading, shares of the real estate investment trust had gained 6.33% over the past month. This has outpaced the Finance sector's gain of 5.3% and the S&P 500's gain of 4.59% in that time.
Wall Street will be looking for positivity from Rithm as it approaches its next earnings report date. This is expected to be May 4, 2023. The company is expected to report EPS of $0.32, down 13.51% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $807.88 million, up 258.4% from the year-ago period.
RITM's full-year Zacks Consensus Estimates are calling for earnings of $1.36 per share and revenue of $3.34 billion. These results would represent year-over-year changes of +3.82% and +3.71%, respectively.
It is also important to note the 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Rithm is currently sporting a Zacks Rank of #2 (Buy).
Looking at its valuation, Rithm is holding a Forward P/E ratio of 5.95. This represents a discount compared to its industry's average Forward P/E of 9.22.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 197, putting it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.