In the latest trading session, New Residential Investment (NRZ - Free Report) closed at $15.48, marking a +1.51% move from the previous day. This move outpaced the S&P 500's daily loss of 0.28%. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq lost 1.61%.
Coming into today, shares of the real estate investment trust had lost 6.42% in the past month. In that same time, the Finance sector lost 5.8%, while the S&P 500 lost 6.3%.
Investors will be hoping for strength from NRZ as it approaches its next earnings release. The company is expected to report EPS of $0.54, down 6.9% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $240.28 million, down 10.97% from the year-ago period.
NRZ's full-year Zacks Consensus Estimates are calling for earnings of $2.19 per share and revenue of $957.36 million. These results would represent year-over-year changes of -7.98% and -9.49%, respectively.
It is also important to note the recent changes to analyst estimates for NRZ. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.95% lower. NRZ is currently a Zacks Rank #3 (Hold).
Looking at its valuation, NRZ is holding a Forward P/E ratio of 6.97. For comparison, its industry has an average Forward P/E of 9.5, which means NRZ is trading at a discount to the group.
The REIT and Equity Trust industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 245, which puts it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.