New Residential Investment closed the most recent trading day at $9.48, moving -1.04% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.15%. Meanwhile, the Dow lost 0.52%, and the Nasdaq, a tech-heavy index, lost 0.37%.
Coming into today, shares of the real estate investment trust had lost 11.87% in the past month. In that same time, the Finance sector lost 7.08%, while the S&P 500 lost 5.08%.
Wall Street will be looking for positivity from New Residential Investment as it approaches its next earnings report date. On that day, New Residential Investment is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 6.45%. Meanwhile, our latest consensus estimate is calling for revenue of $252.3 million, up 71.47% from the prior-year quarter.
NRZ's full-year Zacks Consensus Estimates are calling for earnings of $1.21 per share and revenue of $1.04 billion. These results would represent year-over-year changes of -18.24% and +50.29%, respectively.
It is also important to note the recent changes to analyst estimates for New Residential Investment. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 12.11% lower within the past month. New Residential Investment is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, New Residential Investment is currently trading at a Forward P/E ratio of 7.92. Its industry sports an average Forward P/E of 8.23, so we one might conclude that New Residential Investment 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 158, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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New Residential Investment (NRZ) Stock Moves -1.04%: What You Should Know
New Residential Investment closed the most recent trading day at $9.48, moving -1.04% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.15%. Meanwhile, the Dow lost 0.52%, and the Nasdaq, a tech-heavy index, lost 0.37%.
Coming into today, shares of the real estate investment trust had lost 11.87% in the past month. In that same time, the Finance sector lost 7.08%, while the S&P 500 lost 5.08%.
Wall Street will be looking for positivity from New Residential Investment as it approaches its next earnings report date. On that day, New Residential Investment is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 6.45%. Meanwhile, our latest consensus estimate is calling for revenue of $252.3 million, up 71.47% from the prior-year quarter.
NRZ's full-year Zacks Consensus Estimates are calling for earnings of $1.21 per share and revenue of $1.04 billion. These results would represent year-over-year changes of -18.24% and +50.29%, respectively.
It is also important to note the recent changes to analyst estimates for New Residential Investment. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 12.11% lower within the past month. New Residential Investment is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, New Residential Investment is currently trading at a Forward P/E ratio of 7.92. Its industry sports an average Forward P/E of 8.23, so we one might conclude that New Residential Investment 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 158, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.