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Rithm Capital (RITM) Reaches 10-Year Mark, $32B in Assets
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Rithm Capital Corp. (RITM - Free Report) announced that the company is celebrating its 10th year as a publicly traded firm. The company was launched in May 2013 and kept evolving to reach its current structure. Over the past decade, its shares fell 43.1%, while the industry declined 31.4% but the finance sector increased 39.8%.
During this time frame, Rithm Capital’s total assets increased to around $32 billion from almost $3 billion. Its total equity also grew from $1 billion to around $7 billion. To date, it paid dividends of around $4.6 billion. Its dividend yield of 12.7% is significantly higher than the industry average of 2.5%.
The company changed its management structure from external to internal in June 2022 and launched a private capital business. This diversified its business and positioned it for significant growth in the long run.
Combined pre-tax income from its Origination & Servicing businesses was $164 million in the first quarter. At the first-quarter end, its MSR portfolio totaled $603 billion in unpaid principal balance. In the last reported quarter, RITM’s revenues reached $783.4 million, up from the year-ago level of $225.4 million.
Also, its bottom line jumped to 35 cents per share, beating the Zacks Consensus Estimate of 32 cents. For 2023, the consensus metric for earnings is pegged at $1.39 per share, indicating 6.1% year-over-year growth. It beat earnings estimates in all the past four quarters, with an average of 14.5%.
The Zacks Consensus Estimate for Allianz’s 2023 earnings is pegged at $2.53 per share, indicating 48% year-over-year growth. Over the past 60 days, ALIZY has witnessed one upward estimate revision against none in the opposite direction.
The Zacks Consensus Estimate for Lemonade’s 2023 earnings suggests 15.9% year-over-year growth. Also, the consensus mark for LMND’s revenues in 2023 suggests a 53.6% year-over-year rise.
The Zacks Consensus Estimate for Argo Blockchain’s 2023 bottom line has improved 47.9% over the past month. During this time, ARBK witnessed two upward estimate revisions against none in the opposite direction.
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Rithm Capital (RITM) Reaches 10-Year Mark, $32B in Assets
Rithm Capital Corp. (RITM - Free Report) announced that the company is celebrating its 10th year as a publicly traded firm. The company was launched in May 2013 and kept evolving to reach its current structure. Over the past decade, its shares fell 43.1%, while the industry declined 31.4% but the finance sector increased 39.8%.
During this time frame, Rithm Capital’s total assets increased to around $32 billion from almost $3 billion. Its total equity also grew from $1 billion to around $7 billion. To date, it paid dividends of around $4.6 billion. Its dividend yield of 12.7% is significantly higher than the industry average of 2.5%.
The company changed its management structure from external to internal in June 2022 and launched a private capital business. This diversified its business and positioned it for significant growth in the long run.
Combined pre-tax income from its Origination & Servicing businesses was $164 million in the first quarter. At the first-quarter end, its MSR portfolio totaled $603 billion in unpaid principal balance. In the last reported quarter, RITM’s revenues reached $783.4 million, up from the year-ago level of $225.4 million.
Also, its bottom line jumped to 35 cents per share, beating the Zacks Consensus Estimate of 32 cents. For 2023, the consensus metric for earnings is pegged at $1.39 per share, indicating 6.1% year-over-year growth. It beat earnings estimates in all the past four quarters, with an average of 14.5%.
Rithm Capital Corp. Price and EPS Surprise
Rithm Capital Corp. price-eps-surprise | Rithm Capital Corp. Quote
Zacks Rank & Other Key Picks
Rithm Capital currently has a Zacks Rank #2 (Buy). Some other top-ranked stocks in the broader finance space are Allianz SE (ALIZY - Free Report) , Lemonade, Inc. (LMND - Free Report) and Argo Blockchain plc (ARBK - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Allianz’s 2023 earnings is pegged at $2.53 per share, indicating 48% year-over-year growth. Over the past 60 days, ALIZY has witnessed one upward estimate revision against none in the opposite direction.
The Zacks Consensus Estimate for Lemonade’s 2023 earnings suggests 15.9% year-over-year growth. Also, the consensus mark for LMND’s revenues in 2023 suggests a 53.6% year-over-year rise.
The Zacks Consensus Estimate for Argo Blockchain’s 2023 bottom line has improved 47.9% over the past month. During this time, ARBK witnessed two upward estimate revisions against none in the opposite direction.