In the latest trading session, New Residential Investment closed at $9.76, marking a +1.24% move from the previous day. This move outpaced the S&P 500's daily loss of 0.84%. Meanwhile, the Dow lost 0.69%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Coming into today, shares of the real estate investment trust had gained 11.44% in the past month. In that same time, the Finance sector lost 0.44%, while the S&P 500 gained 2.02%.
New Residential Investment will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.29, down 6.45% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $252.3 million, up 71.47% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.21 per share and revenue of $1.04 billion, which would represent changes of -18.24% and +50.29%, respectively, from the prior year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. The Zacks Consensus EPS estimate has moved 4.01% higher within the past month. New Residential Investment currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, New Residential Investment is holding a Forward P/E ratio of 7.97. For comparison, its industry has an average Forward P/E of 8.42, which means New Residential Investment is trading at a discount to the group.
The REIT and Equity Trust industry is part of the Finance sector. This group has a Zacks Industry Rank of 145, putting it in the bottom 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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New Residential Investment (NRZ) Gains As Market Dips: What You Should Know
In the latest trading session, New Residential Investment closed at $9.76, marking a +1.24% move from the previous day. This move outpaced the S&P 500's daily loss of 0.84%. Meanwhile, the Dow lost 0.69%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Coming into today, shares of the real estate investment trust had gained 11.44% in the past month. In that same time, the Finance sector lost 0.44%, while the S&P 500 gained 2.02%.
New Residential Investment will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.29, down 6.45% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $252.3 million, up 71.47% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.21 per share and revenue of $1.04 billion, which would represent changes of -18.24% and +50.29%, respectively, from the prior year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. The Zacks Consensus EPS estimate has moved 4.01% higher within the past month. New Residential Investment currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, New Residential Investment is holding a Forward P/E ratio of 7.97. For comparison, its industry has an average Forward P/E of 8.42, which means New Residential Investment is trading at a discount to the group.
The REIT and Equity Trust industry is part of the Finance sector. This group has a Zacks Industry Rank of 145, putting it in the bottom 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.