In the latest trading session, Rithm (RITM – Free Report) closed at $10.96, marking a -0.36% move from the previous day. This change lagged the S&P 500’s 0.16% gain on the day. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq lost 0.06%.
Shares of the real estate investment trust witnessed a loss of 1.26% over the previous month, beating the performance of the Finance sector with its loss of 4.35% and the S&P 500’s loss of 2.8%.
The investment community will be closely monitoring the performance of Rithm in its forthcoming earnings report. On that day, Rithm is projected to report earnings of $0.45 per share, which would represent a year-over-year decline of 11.76%. Simultaneously, our latest consensus estimate expects the revenue to be $1.23 billion, showing a 73.2% escalation compared to the year-ago quarter.
Investors might also notice recent changes to analyst estimates for Rithm. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 has moved 1.99% higher. Rithm is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Rithm is holding a Forward P/E ratio of 5.71. This signifies a discount in comparison to the average Forward P/E of 10.13 for its industry.
The Financial – Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank is ordered 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.
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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