In the last trading session, 3.84 million shares of the Rithm Capital Corporation (NYSE:RITM) were traded, and its beta was 1.78. Most recently the company’s share price was $10.93, and it changed around -$0.23 or -2.06% from the last close, which brings the market valuation of the company to $5.28B. RITM currently trades at a discount to its 52-week high of $11.33, offering almost -3.66% off that amount. The share price’s 52-week low was $7.59, which indicates that the current value has risen by an impressive 30.56% since then. We note from Rithm Capital Corporation’s average daily trading volume that its 10-day average is 2.7 million shares, with the 3-month average coming to 3.70 million.
Rithm Capital Corporation (NYSE:RITM) trade information
Instantly RITM has showed a red trend with a performance of -2.06% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 2.34% year-to-date, but still down -1.80% over the last five days. On the other hand, Rithm Capital Corporation (NYSE:RITM) is 0.83% up in the 30-day period. We can see from the shorts that 6.63 million shares have been sold at a short interest cover period of 1.86 day(s).
The consensus price target as assigned by Wall Street analysts is $12.5, which translates to bulls needing to increase their stock price by 12.56% from its current value. Analyst projections state that RITM is forecast to be at a low of $12.5 and a high of $12.5.
Rithm Capital Corporation (RITM) estimates and forecasts
Rithm Capital Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 18.03 percent over the past six months and at a -18.93% annual growth rate that is well below the industry average of 11.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 5.70% in revenue this quarter, and will report a decrease of -35.50% in the next quarter. The year-over-year growth rate is expected to be 8.50%, up from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $451.76 million in revenue for the current quarter. 8 analysts expect Rithm Capital Corporation to make $455.66 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $346.61 million and $398.79 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 30.30%. Forecasts for the next quarter put sales growth at 14.30%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -17.08%. Rithm Capital Corporation earnings are expected to increase by -19.38% in 2024, but the outlook is positive 14.14% per year for the next five years.
RITM Dividends
Rithm Capital Corporation’s next quarterly earnings report is expected to be released around May 02 and May 06. The annual dividend yield of the stock is 9.15 percent and its annual dividend per share was 1.00. It is important to note, however, that the 9.15% 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 Corporation (NYSE:RITM)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.66% of Rithm Capital Corporation shares, and 47.93% of them are in the hands of institutional investors. The stock currently has a share float of 48.25%. Rithm Capital Corporation stock is held by 548 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 9.57% of the shares, which is about 46.25 million shares worth $432.46 million.
Blackrock Inc., with 5.44% or 26.31 million shares worth $245.96 million as of Jun 29, 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 Jun 29, 2023. The former held 15.35 million shares worth $143.56 million, making up 3.18% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 12.47 million shares worth around $116.59 million, which represents about 2.58% of the total shares outstanding.
