Q3 2024 EPS Estimates for Rithm Capital Corp. Lifted by B. Riley (NYSE:RITM)

Rithm Capital Corp. (NYSE:RITM) – Research analysts at B. Riley boosted their Q3 2024 earnings per share estimates for shares of Rithm Capital in a report issued on Tuesday, August 13th. B. Riley analyst M. Howlett now forecasts that the real estate investment trust will post earnings per share of $0.46 for the quarter, up from their previous forecast of $0.45. B. Riley currently has a “Buy” rating and a $14.00 target price on the stock. The consensus estimate for Rithm Capital’s current full-year earnings is $1.78 per share. B. Riley also issued estimates for Rithm Capital’s Q4 2024 earnings at $0.47 EPS, FY2024 earnings at $1.88 EPS, Q1 2025 earnings at $0.47 EPS, Q2 2025 earnings at $0.51 EPS, Q3 2025 earnings at $0.51 EPS, Q4 2025 earnings at $0.48 EPS, Q1 2026 earnings at $0.51 EPS and Q2 2026 earnings at $0.56 EPS.

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods upped their price target on Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, May 9th. Piper Sandler lifted their target price on Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. JMP Securities raised their price target on Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Tuesday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.55.

Rithm Capital Stock Performance

Shares of RITM stock opened at $11.36 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. Rithm Capital has a fifty-two week low of $8.87 and a fifty-two week high of $11.85. The stock has a 50 day moving average price of $11.11 and a two-hundred day moving average price of $10.99. The company has a market capitalization of $5.49 billion, a P/E ratio of 7.57 and a beta of 1.82.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results 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 firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a return on equity of 18.20% and a net margin of 15.55%. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter last year, the company posted $0.62 EPS.

Institutional Trading of Rithm Capital

Hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust raised its holdings in Rithm Capital by 605.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 2,136 shares during the period. American National Bank acquired a new position in Rithm Capital in the 4th quarter worth about $27,000. Bessemer Group Inc. acquired a new position in Rithm Capital in the 1st quarter worth about $30,000. Raleigh Capital Management Inc. raised its holdings in Rithm Capital by 125.4% in 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 during the period. Finally, GAMMA Investing LLC acquired a new position in Rithm Capital in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.80%. Rithm Capital’s payout ratio 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.