Rithm Capital (RITM) to Release Earnings on Tuesday

Rithm Capital (NYSE:RITM) will release its earnings data before the market opens on Tuesday, October 29th. Analysts expect Rithm Capital to post earnings of $0.43 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Rithm Capital (NYSE:RITM) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, beating 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 company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. Rithm Capital’s revenue for the quarter was up 18.4% compared to the same quarter last year. 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 Price Performance

NYSE RITM opened at $10.48 on Friday. The firm’s fifty day simple moving average is $11.28 and its two-hundred day simple moving average is $11.17. The firm has a market capitalization of $5.06 billion, a P/E ratio of 8.81 and a beta of 1.80. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. Rithm Capital has a 12-month low of $9.06 and a 12-month high of $12.02.

Rithm Capital Announces Dividend

The firm 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 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 yield of 9.54%. Rithm Capital’s dividend payout ratio (DPR) is 84.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RITM. JMP Securities boosted their price target on 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 reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. Finally, Wedbush reissued an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a report on Friday, August 16th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.