New Residential Investment (NRZ - Free Report) closed at $14.91 in the latest trading session, marking a +1.02% move from the prior day. This change outpaced the S&P 500's 0.45% loss on the day. Elsewhere, the Dow lost 0.36%, while the tech-heavy Nasdaq lost 0.33%.
Prior to today's trading, shares of the real estate investment trust had gained 3.14% over the past month. This has outpaced the Finance sector's gain of 1.83% and the S&P 500's gain of 0.59% in that time.
Wall Street will be looking for positivity from NRZ as it approaches its next earnings report date. In that report, analysts expect NRZ to post earnings of $0.52 per share. This would mark a year-over-year decline of 17.46%. Our most recent consensus estimate is calling for quarterly revenue of $225.56 million, down 14.14% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.13 per share and revenue of $881.92 million. These totals would mark changes of -10.5% and -16.63%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for NRZ. Recent revisions tend to reflect the latest near-term business trends. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NRZ is currently a Zacks Rank #3 (Hold).
Looking at its valuation, NRZ is holding a Forward P/E ratio of 6.95. Its industry sports an average Forward P/E of 9.8, so we one might conclude that NRZ is trading at a discount comparatively.
The REIT and Equity Trust industry is part of the Finance sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 42% 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.