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RITM Stock Forecast 2023: Rithm Capital Corp. Remains Weak With A Upside Of 14.57%

In today’s recent session, 0.95 million shares of the Rithm Capital Corp. (NYSE:RITM) have been traded, and its beta is 1.77. Most recently the company’s share price was $8.03, and it changed around -$0.16 or -1.89% from the last close, which brings the market valuation of the company to $3.97B. RITM at last check was trading at a discount to its 52-week high of $11.11, offering almost -38.36% off that amount. The share price’s 52-week low was $6.86, which indicates that the recent value has risen by an impressive 14.57% since then. We note from Rithm Capital Corp.’s average daily trading volume that its 10-day average is 3.2 million shares, with the 3-month average coming to 4.19 million.

Rithm Capital Corp. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.70. If we narrow it down even further, the data shows that 0 out of 12 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 1 recommended RITM as a Hold, whereas 9 deemed it a Buy, and 0 rated it as Underweight. Rithm Capital Corp. is expected to report earnings per share of $0.36 for the current quarter.

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Rithm Capital Corp. (NYSE:RITM) trade information

Instantly RITM has been showing red trend so far today with a performance of -1.89% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 8.36 on Tuesday, 05/23/23 increased the stock’s daily price by 3.95%. The company’s shares are currently down -1.65% year-to-date, but still down -1.05% over the last five days. On the other hand, Rithm Capital Corp. (NYSE:RITM) is 2.10% down in the 30-day period. We can see from the shorts that 5.54 million shares have been sold at a short interest cover period of 1.5 day(s).

The consensus price target as assigned by Wall Street analysts is $11.05, which translates to bulls needing to increase their stock price by 27.33% from its current value. Analyst projections state that RITM is forecast to be at a low of $9.00 and a high of $13.00. In order for the stock price to hit the forecast high, the stock would need to plunge -61.89% from its current level, while the stock would need to crash -12.08% from its current level to reach the projected low.

Rithm Capital Corp. (RITM) estimates and forecasts

Rithm Capital Corp. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -7.75 percent over the past six months and at a 7.63% annual growth rate that is well above the industry average of 1.70%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 16.10% in revenue this quarter, and will report an increase of 15.60% in the next quarter. The year-over-year growth rate is expected to be 38.20%, up from the previous year.

Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $372.15 million in revenue for the current quarter. 5 analysts expect Rithm Capital Corp. to make $383.25 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $211.65 million and $273.38 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 75.80%. Forecasts for the next quarter put sales growth at 40.20%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -10.40%. Rithm Capital Corp. earnings are expected to increase by 19.00% in 2023, but the outlook is positive 14.14% per year for the next five years.

RITM Dividends

Rithm Capital Corp.’s next quarterly earnings report is expected to be released around July 31 and August 04. The annual dividend yield of the stock is 12.21 percent and its annual dividend per share was 1.00. It is important to note, however, that the 12.21% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Rithm Capital Corp. (NYSE:RITM)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.68% of Rithm Capital Corp. shares, and 47.36% of them are in the hands of institutional investors. The stock currently has a share float of 47.68%. Rithm Capital Corp. stock is held by 513 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 9.46% of the shares, which is about 45.7 million shares worth $368.12 million.

Blackrock Inc., with 5.14% or 24.85 million shares worth $200.17 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 14.24 million shares worth $114.68 million, making up 2.94% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 12.2 million shares worth around $98.3 million, which represents about 2.52% of the total shares outstanding.

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