New Residential Investment closed the most recent trading day at $10.59, moving -0.56% from the previous trading session. This change lagged the S&P 500's daily gain of 0.69%. Elsewhere, the Dow gained 0.78%, while the tech-heavy Nasdaq added 0.28%.
Coming into today, shares of the real estate investment trust had lost 2.92% in the past month. In that same time, the Finance sector lost 0.29%, while the S&P 500 lost 5.29%.
Wall Street will be looking for positivity from New Residential Investment as it approaches its next earnings report date. This is expected to be February 8, 2022. In that report, analysts expect New Residential Investment to post earnings of $0.38 per share. This would mark year-over-year growth of 18.75%. Our most recent consensus estimate is calling for quarterly revenue of $211.4 million, up 86.35% from the year-ago period.
It is also important to note the recent changes to analyst estimates for New Residential Investment. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.79% higher. New Residential Investment is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, New Residential Investment currently has a Forward P/E ratio of 6.29. This represents a discount compared to its industry's average Forward P/E of 8.76.
The REIT and Equity Trust industry is part of the Finance sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% 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) Stock Sinks As Market Gains: What You Should Know
New Residential Investment closed the most recent trading day at $10.59, moving -0.56% from the previous trading session. This change lagged the S&P 500's daily gain of 0.69%. Elsewhere, the Dow gained 0.78%, while the tech-heavy Nasdaq added 0.28%.
Coming into today, shares of the real estate investment trust had lost 2.92% in the past month. In that same time, the Finance sector lost 0.29%, while the S&P 500 lost 5.29%.
Wall Street will be looking for positivity from New Residential Investment as it approaches its next earnings report date. This is expected to be February 8, 2022. In that report, analysts expect New Residential Investment to post earnings of $0.38 per share. This would mark year-over-year growth of 18.75%. Our most recent consensus estimate is calling for quarterly revenue of $211.4 million, up 86.35% from the year-ago period.
It is also important to note the recent changes to analyst estimates for New Residential Investment. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.79% higher. New Residential Investment is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, New Residential Investment currently has a Forward P/E ratio of 6.29. This represents a discount compared to its industry's average Forward P/E of 8.76.
The REIT and Equity Trust industry is part of the Finance sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% 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.