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Rithm (RITM) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Rithm (RITM - Free Report) closed at $7.61, marking a -1.81% move from the previous day. This move lagged the S&P 500's daily loss of 0.67%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.22%.
Coming into today, shares of the real estate investment trust had lost 12.33% in the past month. In that same time, the Finance sector lost 3.71%, while the S&P 500 lost 3.76%.
Rithm will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2022. On that day, Rithm is projected to report earnings of $0.25 per share, which would represent a year-over-year decline of 43.18%. Our most recent consensus estimate is calling for quarterly revenue of $862.03 million, up 352.2% from the year-ago period.
RITM's full-year Zacks Consensus Estimates are calling for earnings of $1.22 per share and revenue of $4.68 billion. These results would represent year-over-year changes of -17.57% and +577.9%, respectively.
It is also important to note the recent changes to analyst estimates for Rithm. These recent revisions tend to reflect the evolving nature of short-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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.14% lower. Rithm is currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note Rithm's current valuation metrics, including its Forward P/E ratio of 6.37. This represents a discount compared to its industry's average Forward P/E of 10.63.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% 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.
To follow RITM in the coming trading sessions, be sure to utilize Zacks.com.
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Rithm (RITM) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Rithm (RITM - Free Report) closed at $7.61, marking a -1.81% move from the previous day. This move lagged the S&P 500's daily loss of 0.67%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.22%.
Coming into today, shares of the real estate investment trust had lost 12.33% in the past month. In that same time, the Finance sector lost 3.71%, while the S&P 500 lost 3.76%.
Rithm will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2022. On that day, Rithm is projected to report earnings of $0.25 per share, which would represent a year-over-year decline of 43.18%. Our most recent consensus estimate is calling for quarterly revenue of $862.03 million, up 352.2% from the year-ago period.
RITM's full-year Zacks Consensus Estimates are calling for earnings of $1.22 per share and revenue of $4.68 billion. These results would represent year-over-year changes of -17.57% and +577.9%, respectively.
It is also important to note the recent changes to analyst estimates for Rithm. These recent revisions tend to reflect the evolving nature of short-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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 2.14% lower. Rithm is currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note Rithm's current valuation metrics, including its Forward P/E ratio of 6.37. This represents a discount compared to its industry's average Forward P/E of 10.63.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% 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.
To follow RITM in the coming trading sessions, be sure to utilize Zacks.com.