In the latest trading session, New Residential Investment (NRZ - Free Report) closed at $15.77, marking a +0.25% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.02%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 0.21%.
Prior to today's trading, shares of the real estate investment trust had gained 1.03% over the past month. This has outpaced the Finance sector's gain of 0.62% and the S&P 500's loss of 1.4% in that time.
Investors will be hoping for strength from NRZ as it approaches its next earnings release, which is expected to be February 12, 2019. On that day, NRZ is projected to report earnings of $0.55 per share, which would represent a year-over-year decline of 9.84%. Our most recent consensus estimate is calling for quarterly revenue of $242.80 million, up 3.2% from the year-ago period.
It is also important to note the recent changes to analyst estimates for NRZ. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NRZ is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, NRZ currently has a Forward P/E ratio of 6.79. Its industry sports an average Forward P/E of 9.09, so we one might conclude that NRZ is trading at a discount comparatively.
Also, we should mention that NRZ has a PEG ratio of 6.79. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. NRZ's industry had an average PEG ratio of 2.38 as of yesterday's close.
The REIT and Equity Trust industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 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.