Does Rithm Capital Corporation (NYSE:RITM) have deteriorating prospects?

The stock of Rithm Capital Corporation (NYSE:RITM) last traded at $10.38, up 0.78% from the previous session.

Data from the available sources indicates that Rithm Capital Corporation (NYSE:RITM) is covered by 10 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $13.00 and a low of $10.50, we find $12.00. Given the previous closing price of $10.30, this indicates a potential upside of 16.5 percent. RITM stock price is now 8.64% away from the 50-day moving average and 13.86% away from the 200-day moving average. The market capitalization of the company currently stands at $5.02B.

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In total, 1 analysts have assigned it a hold rating, and 8 have given it a buy rating. Brokers who have rated the stock have averaged $11.78 as their price target over the next twelve months.

With the price target of $12, B. Riley Securities recently initiated with Buy rating for Rithm Capital Corporation (NYSE: RITM).

In other news, Rithm Capital Corp., 10% Owner bought 29,664,827 shares of the company’s stock on Nov 17. The stock was bought for $376,743,303 at an average price of $12.70. Upon completion of the transaction, the 10% Owner now directly owns 1,000 shares in the company, valued at $10380.0. Insiders disposed of 106,545 shares of company stock worth roughly $1.11 million over the past 1 year. A total of 0.54% of the company’s stock is owned by insiders.

With an opening price of $10.30 on Thursday morning, Rithm Capital Corporation (NYSE: RITM) set off the trading day. During the past 12 months, Rithm Capital Corporation has had a low of $7.40 and a high of $10.45. The fifty day moving average price for RITM is $9.55 and a two-hundred day moving average price translates $9.12 for the stock.

The latest earnings results from Rithm Capital Corporation (NYSE: RITM) was released for Sep, 2023. According to the REIT – Mortgage Company, earnings per share came in at $0.58, beating analysts’ expectations of $0.39 by 0.19. This compares to $0.26 EPS in the same period last year. The net profit margin was 26.21% and return on equity was 11.15% for RITM. The company reported revenue of $940.18 million for the quarter, compared to $707.37 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 32.91 percent. For the current quarter, analysts expect RITM to generate $461.32M in revenue.

Rithm Capital Corporation(RITM) Company Profile

Rithm Capital Corp. operates as an investment manager that operates a vertically integrated mortgage platform and invests in real estate and related properties in the United States and Europe. The company provides capital and services to the real estate and financial services sectors. Its investment portfolio comprises mortgage servicing related assets, residential securities and loans, and single-family rental loans. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as New Residential Investment Corp. and changed its name to Rithm Capital Corp. in August 2022. Rithm Capital Corp. was incorporated in 2011 and is headquartered in New York, New York.

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