In the latest trading session, New Residential Investment closed at $10.62, marking a -1.03% move from the previous day. This change was narrower than the S&P 500's 1.23% loss on the day. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 0.14%.
Coming into today, shares of the real estate investment trust had gained 3.67% in the past month. In that same time, the Finance sector gained 2.27%, while the S&P 500 gained 5.04%.
Wall Street will be looking for positivity from New Residential Investment as it approaches its next earnings report date. The company is expected to report EPS of $0.39, up 14.71% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $229.05 million, up 69.88% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.59 per share and revenue of $936.1 million, which would represent changes of +7.43% and +35.64%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for New Residential Investment. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 3.04% lower within the past month. New Residential Investment is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that New Residential Investment has a Forward P/E ratio of 6.73 right now. This valuation marks a discount compared to its industry's average Forward P/E of 8.95.
The REIT and Equity Trust industry is part of the Finance sector. This group has a Zacks Industry Rank of 233, putting it in the bottom 9% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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New Residential Investment (NRZ) Stock Moves -1.03%: What You Should Know
In the latest trading session, New Residential Investment closed at $10.62, marking a -1.03% move from the previous day. This change was narrower than the S&P 500's 1.23% loss on the day. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 0.14%.
Coming into today, shares of the real estate investment trust had gained 3.67% in the past month. In that same time, the Finance sector gained 2.27%, while the S&P 500 gained 5.04%.
Wall Street will be looking for positivity from New Residential Investment as it approaches its next earnings report date. The company is expected to report EPS of $0.39, up 14.71% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $229.05 million, up 69.88% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.59 per share and revenue of $936.1 million, which would represent changes of +7.43% and +35.64%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for New Residential Investment. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 3.04% lower within the past month. New Residential Investment is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that New Residential Investment has a Forward P/E ratio of 6.73 right now. This valuation marks a discount compared to its industry's average Forward P/E of 8.95.
The REIT and Equity Trust industry is part of the Finance sector. This group has a Zacks Industry Rank of 233, putting it in the bottom 9% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.