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Rithm (RITM) Outpaces Stock Market Gains: What You Should Know
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Rithm (RITM - Free Report) closed the most recent trading day at $8.16, moving +1.24% from the previous trading session. This change outpaced the S&P 500's 0.83% gain on the day. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 4.46%.
Prior to today's trading, shares of the real estate investment trust had gained 2.81% over the past month. This has lagged the Finance sector's gain of 3.88% and the S&P 500's gain of 4.04% 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. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 currently has a Zacks Rank of #3 (Hold).
Investors should also note Rithm's current valuation metrics, including its Forward P/E ratio of 5.95. This valuation marks a discount compared to its industry's average Forward P/E of 9.07.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 25% 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) Outpaces Stock Market Gains: What You Should Know
Rithm (RITM - Free Report) closed the most recent trading day at $8.16, moving +1.24% from the previous trading session. This change outpaced the S&P 500's 0.83% gain on the day. Meanwhile, the Dow gained 0.8%, and the Nasdaq, a tech-heavy index, added 4.46%.
Prior to today's trading, shares of the real estate investment trust had gained 2.81% over the past month. This has lagged the Finance sector's gain of 3.88% and the S&P 500's gain of 4.04% 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. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 currently has a Zacks Rank of #3 (Hold).
Investors should also note Rithm's current valuation metrics, including its Forward P/E ratio of 5.95. This valuation marks a discount compared to its industry's average Forward P/E of 9.07.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 189, which puts it in the bottom 25% 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.