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

Rithm Capital Corp. (NYSE:RITM) – Stock analysts at Wedbush reduced their Q3 2024 EPS estimates for Rithm Capital in a research report issued on Thursday, October 10th. Wedbush analyst J. Mccanless now forecasts that the real estate investment trust will post earnings per share of $0.40 for the quarter, down from their previous forecast 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 posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.62 EPS. The company’s revenue was up 18.4% on a year-over-year basis.

A number of other research firms also recently weighed in on RITM. JMP Securities raised their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.67.

Rithm Capital Price Performance

RITM stock opened at $10.65 on Monday. Rithm Capital has a 12-month low of $8.87 and a 12-month high of $12.02. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.81. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 7.10 and a beta of 1.80. The company has a 50 day moving average of $11.36 and a two-hundred day moving average of $11.19.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RITM. Natixis acquired a new position in shares of Rithm Capital in the first quarter valued at approximately $689,000. Waterfall Asset Management LLC bought a new stake in Rithm Capital during the second quarter worth $2,209,000. SG Americas Securities LLC bought a new position in shares of Rithm Capital in the third quarter valued at about $4,112,000. Vanguard Group Inc. raised its position in shares of Rithm Capital by 0.8% in the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after purchasing an additional 378,931 shares during the period. Finally, Squarepoint Ops LLC bought a new position in shares of Rithm Capital in the second quarter valued at about $774,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors 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 dividend yield of 9.39%. The ex-dividend date is Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is 66.67%.

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.