FY2024 Earnings Estimate for Rithm Capital Issued By Wedbush

Rithm Capital Corp. (NYSE:RITM - Free Report) - Equities research analysts at Wedbush upped their FY2024 earnings per share estimates for Rithm Capital in a research note issued on Thursday, November 7th. Wedbush analyst J. Mccanless now anticipates that the real estate investment trust will post earnings per share of $1.92 for the year, up from their previous forecast of $1.75. Wedbush has a "Outperform" rating and a $14.00 price objective on the stock. The consensus estimate for Rithm Capital's current full-year earnings is $1.89 per share. Wedbush also issued estimates for Rithm Capital's Q4 2024 earnings at $0.43 EPS and FY2025 earnings at $1.90 EPS.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The firm had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the prior year, the firm earned $0.58 earnings per share.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada restated an "outperform" rating and set a $13.00 target price on shares of Rithm Capital in a research report on Tuesday, August 13th. JMP Securities boosted their price objective on Rithm Capital from $11.00 to $12.50 and gave the company a "market outperform" rating in a research note on Friday, July 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Rithm Capital presently has a consensus rating of "Moderate Buy" and an average price target of $12.78.

Rithm Capital Stock Up 0.3 %

RITM traded up $0.03 during trading on Monday, reaching $10.81. 3,001,856 shares of the stock were exchanged, compared to its average volume of 3,536,480. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.49 and a current ratio of 1.35. The stock has a market cap of $5.62 billion, a P/E ratio of 10.89 and a beta of 1.80. Rithm Capital has a twelve month low of $9.68 and a twelve month high of $12.02. The stock's 50 day moving average price is $11.08 and its two-hundred day moving average price is $11.16.

Institutional Investors Weigh In On Rithm Capital

Several large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its stake in Rithm Capital by 154.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 1,525 shares during the last quarter. Bessemer Group Inc. acquired a new position in Rithm Capital during the first quarter worth $30,000. Abich Financial Wealth Management LLC grew its stake in shares of Rithm Capital by 56.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 1,461 shares during the period. Godsey & Gibb Inc. acquired a new stake in shares of Rithm Capital during the 3rd quarter worth about $51,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Rithm Capital in the third quarter valued at approximately $73,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.25%. Rithm Capital's dividend payout ratio is presently 101.01%.

About Rithm Capital

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.