In the latest trading session, New Residential Investment (NRZ - Free Report) closed at $7.97, marking a +0.89% move from the previous day. This move lagged the S&P 500's daily gain of 1.9%. Meanwhile, the Dow gained 2.05%, and the Nasdaq, a tech-heavy index, added 1.75%.
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 $0.27 per share. This would mark a year-over-year decline of 49.06%. Our most recent consensus estimate is calling for quarterly revenue of $87.87 million, down 53.27% from the year-ago period.
NRZ's full-year Zacks Consensus Estimates are calling for earnings of $1.22 per share and revenue of $450.43 million. These results would represent year-over-year changes of -43.78% and -45.89%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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 has moved 63.76% higher. NRZ is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, NRZ is currently trading at a Forward P/E ratio of 6.48. This valuation marks a discount compared to its industry's average Forward P/E of 8.92.
The REIT and Equity Trust industry is part of the Finance sector. This group has a Zacks Industry Rank of 147, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.