Q3 2024 Earnings Estimate for Rithm Capital Corp. Issued By Wedbush (NYSE:RITM)

Rithm Capital Corp. (NYSE:RITM) – Research analysts at Wedbush dropped their Q3 2024 earnings estimates for Rithm Capital in a research report issued on Thursday, October 10th. Wedbush analyst J. Mccanless now expects that the real estate investment trust will post earnings per share of $0.40 for the quarter, down from their previous estimate of $0.42. Wedbush currently has a “Outperform” rating and a $13.00 target price 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.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The company 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 was up 18.4% on a year-over-year basis. During the same period last year, the business earned $0.62 earnings per share.

RITM has been the subject of a number of other reports. JMP Securities boosted their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.67.

Rithm Capital Stock Performance

Shares of NYSE:RITM opened at $10.86 on Monday. The business has a fifty day moving average of $11.36 and a 200-day moving average of $11.19. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market cap of $5.25 billion, a PE ratio of 7.24 and a beta of 1.80. Rithm Capital has a twelve month low of $8.87 and a twelve month high of $12.02.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.21%. Rithm Capital’s dividend payout ratio (DPR) is currently 66.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RITM. Northwestern Mutual Wealth Management Co. boosted its holdings 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 valued at $27,000 after purchasing an additional 1,525 shares during the period. Bessemer Group Inc. acquired a new stake in Rithm Capital in the first quarter valued at about $30,000. Raleigh Capital Management Inc. increased its position in Rithm Capital by 125.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 1,661 shares in the last quarter. Abich Financial Wealth Management LLC boosted its holdings in shares of Rithm Capital by 56.8% during 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 acquiring an additional 1,461 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in Rithm Capital in the first quarter valued at about $62,000. 44.92% of the stock is owned by institutional investors and hedge funds.

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.