In the latest trading session, New Residential Investment closed at $10.74, marking a +1.23% move from the previous day. This move outpaced the S&P 500's daily gain of 0.6%. Elsewhere, the Dow gained 1.46%, while the tech-heavy Nasdaq lost 0.04%.
Heading into today, shares of the real estate investment trust had gained 10.75% over the past month, outpacing the Finance sector's gain of 3.85% and the S&P 500's loss of 0.8% in that time.
Investors will be hoping for strength from NRZ as it approaches its next earnings release. In that report, analysts expect NRZ to post earnings of $0.40 per share. This would mark a year-over-year decline of 16.67%. Meanwhile, our latest consensus estimate is calling for revenue of $114.94 million, down 38.04% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.46 per share and revenue of $436.32 million, which would represent changes of 0% and -15.78%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for NRZ. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.81% higher. NRZ is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that NRZ has a Forward P/E ratio of 7.26 right now. Its industry sports an average Forward P/E of 10.09, so we one might conclude that NRZ is trading at a discount comparatively.
The REIT and Equity Trust industry is part of the Finance sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NRZ in the coming trading sessions, be sure to utilize Zacks.com.
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New Residential Investment (NRZ) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, New Residential Investment closed at $10.74, marking a +1.23% move from the previous day. This move outpaced the S&P 500's daily gain of 0.6%. Elsewhere, the Dow gained 1.46%, while the tech-heavy Nasdaq lost 0.04%.
Heading into today, shares of the real estate investment trust had gained 10.75% over the past month, outpacing the Finance sector's gain of 3.85% and the S&P 500's loss of 0.8% in that time.
Investors will be hoping for strength from NRZ as it approaches its next earnings release. In that report, analysts expect NRZ to post earnings of $0.40 per share. This would mark a year-over-year decline of 16.67%. Meanwhile, our latest consensus estimate is calling for revenue of $114.94 million, down 38.04% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.46 per share and revenue of $436.32 million, which would represent changes of 0% and -15.78%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for NRZ. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.81% higher. NRZ is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that NRZ has a Forward P/E ratio of 7.26 right now. Its industry sports an average Forward P/E of 10.09, so we one might conclude that NRZ is trading at a discount comparatively.
The REIT and Equity Trust industry is part of the Finance sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NRZ in the coming trading sessions, be sure to utilize Zacks.com.