Rithm Capital Corp. to Post Q3 2024 Earnings of $0.40 Per Share, Wedbush Forecasts (NYSE:RITM)

Rithm Capital Corp. (NYSE:RITM - Free Report) - Wedbush reduced their Q3 2024 EPS estimates for Rithm Capital in a research report issued to clients and investors on Thursday, October 10th. Wedbush analyst J. Mccanless now anticipates that the real estate investment trust will earn $0.40 per share for the quarter, down from their previous estimate of $0.42. Wedbush has a "Outperform" rating and a $13.00 price objective on the stock. The consensus estimate for Rithm Capital's current full-year earnings is $1.82 per share. Wedbush also issued estimates for Rithm Capital's Q4 2024 earnings at $0.40 EPS, Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.43 EPS, Q3 2025 earnings at $0.45 EPS and Q4 2025 earnings at $0.50 EPS.

Several other analysts also recently issued reports on the company. JMP Securities upped their price objective on Rithm Capital from $11.00 to $12.50 and gave the company a "market outperform" rating in a research report on Friday, July 19th. Royal Bank of Canada reiterated an "outperform" rating and set a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Rithm Capital presently has a consensus rating of "Moderate Buy" and an average target price of $12.67.

Rithm Capital Price Performance

Shares of NYSE RITM traded up $0.12 on Monday, hitting $10.77. The company's stock had a trading volume of 4,749,066 shares, compared to its average volume of 3,442,516. The stock has a 50 day moving average of $11.36 and a 200-day moving average of $11.19. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 7.18 and a beta of 1.80. Rithm Capital has a 12-month low of $8.87 and a 12-month high of $12.02. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The business's revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter last year, the business posted $0.62 earnings per share.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.29%. The ex-dividend date of this dividend is Tuesday, October 1st. Rithm Capital's dividend payout ratio is currently 66.67%.

Hedge Funds Weigh In On Rithm Capital

A number of large investors have recently modified their holdings of RITM. Raleigh Capital Management Inc. increased its holdings in Rithm Capital by 125.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 1,661 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in shares of Rithm Capital by 36.7% during the 4th quarter. Chicago Partners Investment Group LLC now owns 38,132 shares of the real estate investment trust's stock valued at $418,000 after buying an additional 10,236 shares during the period. Virtu Financial LLC acquired a new position in Rithm Capital during the 4th quarter worth approximately $524,000. Wellington Management Group LLP boosted its holdings in Rithm Capital by 3.9% in the 4th quarter. Wellington Management Group LLP now owns 2,106,184 shares of the real estate investment trust's stock worth $22,494,000 after acquiring an additional 78,838 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Rithm Capital by 12.2% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 30,732 shares of the real estate investment trust's stock valued at $336,000 after purchasing an additional 3,337 shares during the period. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Company Profile

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.