Rithm Capital Corporation (NYSE:RITM) finished Friday with an addition of $0.03 to close at $9.29, an upside of 0.32 percent. An average of 4,359,880 shares of common stock have been traded in the last five days. There was a fall of -$0.37 in the past week, and it reached a new high 29 times over the past 12 months. The last 20 days have seen an average of 3,801,005 shares traded, while the 50-day average volume stands at 3,818,644.
RITM stock has decreased by -9.54% in the last month. The company shares reached their 1-month lowest point of $8.99 on 09/28/23. With the stock rallying to its 52-week high on 09/01/23, shares of the company touched a low of $6.86 and a high of $10.45 in 52 weeks. It has reached a new high 25 times so far this year and achieved 13.71% or $1.12 in price. In spite of this, the price is down -11.10% from the 52-week high.
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Valuation Metrics
Rithm Capital Corporation (RITM) has a trailing price-to-earnings (P/E) ratio of 7.08. The stock’s beta is 1.79. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.50, the price-to-book (PB) ratio at 0.76, and the price-to-cash flow ratio at 1.63.
The company has a payout ratio of 55.69%. The company’s most recent quarterly dividend payment was $0.25 a share, without any change from last year. Its latest increase dividend $0.05 reported on Monday August 23 2021.
Financial Health
Further, the company has a long term debt to equity ratio of 3.32 and a total debt to equity ratio of 3.51 for the quarter ending June 29. Its gross profit as reported stood at $2.05 billion compared to revenue of $3.64 billion.
Earnings Surprise
For the three-month period that ended June 29, Rithm Capital Corporation had $12.76 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $357.4 million in the quarter, while revenues of $68.85 million were grew 100.92%. The analyst consensus anticipated Rithm Capital Corporation’s latest quarter earnings to come in at $0.35 per share, but it turned out to be $0.62, a 77.10% surprise. For the quarter, EBITDA amounted to $752.93 million. At the end of the quarter ending June 29, Rithm Capital Corporation’s stock balance sheet showed total debt was $23.74 billion. Shareholders own equity worth $483.32 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Rithm Capital Corporation (RITM) price momentum. RSI 9-day as of the close on 29 September was 25.70%, suggesting the stock is oversold, with historical volatility in this time frame at 21.62%.
As of today, RITM’s price is $9.41 -3.83% or -$0.37 from its 5-day moving average. RITM is currently trading -9.89% lower than its 20-day SMA and +16.86% higher than its 100-day SMA. However, the stock’s current price level is -4.72% below the SMA50 and +4.03% above the SMA200.
The stochastic %K and %D were 19.87% and 13.89%, respectively, and the average true range (ATR) was 0.19. With the 14-day stochastic at 24.19% and the average true range at 0.18, the RSI (14) stands at 31.45%. The stock has reached -0.24 on the 9-day MACD Oscillator while the 14-day reading was at -0.41.
Analyst Ratings
B. Riley Securities launched coverage on Rithm Capital Corporation (NYSE: RITM) in its analyst report released on December 16, 2022. The firm assigned the stock a Buy rating.
What is RITM’s price target for the next 12 months?
Analysts predict a range of price targets between $10.50 and $13.00, with a median target of $12.00. Taking a look at these predictions, the average price target given by analysts for Rithm Capital Corporation (RITM) stock is $11.61.
