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Rithm (RITM - Free Report) ended the recent trading session at $11.08, demonstrating a +1.28% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 1.2%. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 1.59%.
The real estate investment trust's stock has dropped by 2.15% in the past month, exceeding the Finance sector's loss of 5.68% and the S&P 500's loss of 4.16%.
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 April 30, 2024. In that report, analysts expect Rithm to post earnings of $0.41 per share. This would mark year-over-year growth of 17.14%. In the meantime, our current consensus estimate forecasts the revenue to be $1.08 billion, indicating a 38.36% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $1.69 per share and a revenue of $4.4 billion, demonstrating changes of -17.96% and +21.48%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Rithm. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 last 30 days, the Zacks Consensus EPS estimate has moved 1.35% higher. Rithm presently features a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Rithm has a Forward P/E ratio of 6.46 right now. This denotes a discount relative to the industry's average Forward P/E of 10.32.
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 94, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Why Rithm (RITM) Outpaced the Stock Market Today
Rithm (RITM - Free Report) ended the recent trading session at $11.08, demonstrating a +1.28% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 1.2%. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 1.59%.
The real estate investment trust's stock has dropped by 2.15% in the past month, exceeding the Finance sector's loss of 5.68% and the S&P 500's loss of 4.16%.
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 April 30, 2024. In that report, analysts expect Rithm to post earnings of $0.41 per share. This would mark year-over-year growth of 17.14%. In the meantime, our current consensus estimate forecasts the revenue to be $1.08 billion, indicating a 38.36% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $1.69 per share and a revenue of $4.4 billion, demonstrating changes of -17.96% and +21.48%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Rithm. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 last 30 days, the Zacks Consensus EPS estimate has moved 1.35% higher. Rithm presently features a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Rithm has a Forward P/E ratio of 6.46 right now. This denotes a discount relative to the industry's average Forward P/E of 10.32.
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 94, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.