New Residential Investment (NRZ - Free Report) closed at $16.59 in the latest trading session, marking a -1.83% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.9%. Elsewhere, the Dow lost 1.77%, while the tech-heavy Nasdaq lost 2.5%.
Coming into today, shares of the real estate investment trust had gained 1.99% in the past month. In that same time, the Finance sector lost 0.18%, while the S&P 500 gained 3.04%.
Wall Street will be looking for positivity from NRZ as it approaches its next earnings report date. On that day, NRZ is projected to report earnings of $0.56 per share, which would represent a year-over-year decline of 3.45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $190.82 million, down 26.38% from the year-ago period.
NRZ's full-year Zacks Consensus Estimates are calling for earnings of $2.30 per share and revenue of $800.53 million. These results would represent year-over-year changes of -3.36% and -24.32%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.65% lower. NRZ currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, NRZ is holding a Forward P/E ratio of 7.34. For comparison, its industry has an average Forward P/E of 9.1, which means NRZ is trading at a discount to the group.
It is also worth noting that NRZ currently has a PEG ratio of 7.34. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. REIT and Equity Trust stocks are, on average, holding a PEG ratio of 2.63 based on yesterday's closing prices.
The REIT and Equity Trust industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.