In the latest close session, Rithm (RITM) was up +1.51% at $10.09. The stock's performance was ahead of the S&P 500's daily gain of 1.02%. Elsewhere, the Dow saw an upswing of 0.63%, while the tech-heavy Nasdaq appreciated by 1.23%.
The real estate investment trust's shares have seen an increase of 5.19% over the last month, surpassing the Finance sector's gain of 0.75% and the S&P 500's gain of 0.63%.
Market participants will be closely following the financial results of Rithm in its upcoming release. On that day, Rithm is projected to report earnings of $0.53 per share, which would represent year-over-year growth of 1.92%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.27 billion, up 65.04% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.31 per share and revenue of $5.32 billion, which would represent changes of -1.7% and +21.45%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Rithm. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.29% higher within the past month. As of now, Rithm holds a Zacks Rank of #2 (Buy).
In the context of valuation, Rithm is at present trading with a Forward P/E ratio of 4.3. For comparison, its industry has an average Forward P/E of 11.86, which means Rithm is trading at a discount to the group.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 37% of all 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Rithm Capital Corp. (RITM): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).