Rithm Capital (NYSE:RITM) Announces Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Rithm Capital (NYSE:RITMGet Free Report) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12, RTT News reports. The company had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. During the same period last year, the firm earned $0.58 EPS.

Rithm Capital Stock Down 0.2 %

RITM traded down $0.02 during midday trading on Thursday, reaching $10.77. The company’s stock had a trading volume of 454,754 shares, compared to its average volume of 3,477,246. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 9.08 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 1 year low of $9.20 and a 1 year high of $12.02. The stock’s 50-day moving average is $11.25 and its 200-day moving average is $11.18.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.29%. The ex-dividend date of this dividend is Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is presently 84.03%.

Analysts Set New Price Targets

Several analysts have issued reports on RITM shares. Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Friday, August 16th. JMP Securities lifted their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.67.

Check Out Our Latest Stock Report on Rithm Capital

About Rithm Capital

(Get Free Report)

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.

Further Reading

Earnings History for Rithm Capital (NYSE:RITM)

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