Published on 29 Apr 2024 on Zacks via Yahoo Finance
Should You Buy Rithm Capital (RITM) Ahead of Q1 Earnings?
Rithm Capital Corp. RITM is scheduled to report its first-quarter 2024 results on Apr 30, before the opening bell. The company's performance in this period is expected to have benefited from increased interest income and servicing revenues.
The positive factors, along with earnings growth and other favorable conditions, are likely to contribute positively to its price performance. Year to date, Rithm shares have gained 5% against the industry's 3% decline. Also, its forward 12-month price-to-earnings ratio of 6.4X is notably lower than the industry average of 13X, suggesting that the stock is attractively priced for investors.