The most recent trading session ended with Rithm (RITM) standing at $11.21, reflecting no shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.53%. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq depreciated by 0.83%.
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Shares of the real estate investment trust have depreciated by 0.53% over the course of the past month, underperforming the Finance sector's gain of 3.08% and the S&P 500's gain of 5.17%.
Analysts and investors alike will be keeping a close eye on the performance of Rithm in its upcoming earnings disclosure. On that day, Rithm is projected to report earnings of $0.52 per share, which would represent year-over-year growth of 10.64%. At the same time, our most recent consensus estimate is projecting a revenue of $1.22 billion, reflecting a 0.61% fall from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.10 per share and revenue of $4.53 billion. These totals would mark changes of 0% and -13.56%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Rithm. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 2.78% rise in the Zacks Consensus EPS estimate. Right now, Rithm possesses a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Rithm is holding a Forward P/E ratio of 5.35. Its industry sports an average Forward P/E of 10.86, so one might conclude that Rithm is trading at a discount comparatively.
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 137, placing it within the bottom 45% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research