For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. New Residential Investment (NRZ - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.
New Residential Investment is one of 859 individual stocks in the Finance sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. NRZ is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NRZ's full-year earnings has moved 1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, NRZ has gained about 1.06% so far this year. In comparison, Finance companies have returned an average of -1.09%. As we can see, New Residential Investment is performing better than its sector in the calendar year.
Breaking things down more, NRZ is a member of the REIT and Equity Trust industry, which includes 29 individual companies and currently sits at #59 in the Zacks Industry Rank. On average, this group has gained an average of 1.30% so far this year, meaning that NRZ is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Finance stocks should continue to track NRZ. The stock will be looking to continue its solid performance.