Rithm Capital (RITM) to Release Earnings on Tuesday

Rithm Capital (NYSE:RITM) is scheduled to be issuing its quarterly earnings data before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, topping the consensus estimate 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 net margin of 15.55% and a return on equity of 18.04%. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. On average, analysts expect Rithm Capital to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Rithm Capital Stock Down 2.2 %

Rithm Capital stock opened at $10.60 on Tuesday. Rithm Capital has a twelve month low of $8.87 and a twelve month high of $12.02. 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 $5.12 billion, a PE ratio of 7.07 and a beta of 1.80. The firm’s 50 day moving average price is $11.34 and its two-hundred day moving average price is $11.19.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.43%. Rithm Capital’s dividend payout ratio is 66.67%.

Analysts Set New Price Targets

RITM has been the topic of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Friday, August 16th. Finally, JMP Securities increased 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Rithm Capital presently has an average rating of “Moderate Buy” and a consensus target price of $12.67.

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.