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Rithm (RITM - Free Report) closed the most recent trading day at $11.45, moving +0.7% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 1.11%. Elsewhere, the Dow saw an upswing of 1.64%, while the tech-heavy Nasdaq appreciated by 1.03%.
The the stock of real estate investment trust has risen by 5.28% in the past month, leading the Finance sector's loss of 2.85% and the S&P 500's loss of 1.16%.
Analysts and investors alike will be keeping a close eye on the performance of Rithm in its upcoming earnings disclosure. The company's earnings report is set to go public on July 31, 2024. The company is predicted to post an EPS of $0.42, indicating a 32.26% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.13 billion, indicating an 8.86% increase compared to the same quarter of the previous year.
RITM's full-year Zacks Consensus Estimates are calling for earnings of $1.76 per share and revenue of $4.82 billion. These results would represent year-over-year changes of -14.56% and +33.16%, respectively.
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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Rithm possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Rithm is currently trading at a Forward P/E ratio of 6.45. This signifies a discount in comparison to the average Forward P/E of 12.22 for its industry.
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 101, placing it within the top 41% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Rithm (RITM) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Rithm (RITM - Free Report) closed the most recent trading day at $11.45, moving +0.7% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 1.11%. Elsewhere, the Dow saw an upswing of 1.64%, while the tech-heavy Nasdaq appreciated by 1.03%.
The the stock of real estate investment trust has risen by 5.28% in the past month, leading the Finance sector's loss of 2.85% and the S&P 500's loss of 1.16%.
Analysts and investors alike will be keeping a close eye on the performance of Rithm in its upcoming earnings disclosure. The company's earnings report is set to go public on July 31, 2024. The company is predicted to post an EPS of $0.42, indicating a 32.26% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.13 billion, indicating an 8.86% increase compared to the same quarter of the previous year.
RITM's full-year Zacks Consensus Estimates are calling for earnings of $1.76 per share and revenue of $4.82 billion. These results would represent year-over-year changes of -14.56% and +33.16%, respectively.
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 take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Rithm possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Rithm is currently trading at a Forward P/E ratio of 6.45. This signifies a discount in comparison to the average Forward P/E of 12.22 for its industry.
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 101, placing it within the top 41% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.