$148.33 Million in Sales Expected for New Residential Investment Corp (NRZ) This Quarter

Wall Street analysts predict that New Residential Investment Corp (NYSE:NRZ) will report $148.33 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for New Residential Investment’s earnings, with estimates ranging from $130.85 million to $165.80 million. New Residential Investment reported sales of $231.81 million during the same quarter last year, which indicates a negative year-over-year growth rate of 36%. The company is expected to issue its next earnings report on Tuesday, February 20th.

According to Zacks, analysts expect that New Residential Investment will report full-year sales of $148.33 million for the current year, with estimates ranging from $934.70 million to $954.40 million. For the next financial year, analysts expect that the firm will report sales of $672.42 million per share, with estimates ranging from $504.44 million to $840.40 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover New Residential Investment.

New Residential Investment (NYSE:NRZ) last posted its earnings results on Friday, October 27th. The real estate investment trust reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.08. New Residential Investment had a net margin of 60.06% and a return on equity of 19.38%. The firm had revenue of $331.38 million for the quarter, compared to analyst estimates of $291.66 million. During the same period in the previous year, the firm posted $0.51 EPS. The company’s revenue for the quarter was up 72.1% compared to the same quarter last year.

A number of equities research analysts have weighed in on NRZ shares. FBR & Co reissued a “buy” rating and set a $17.50 target price on shares of New Residential Investment in a report on Monday, October 9th. Zacks Investment Research lowered shares of New Residential Investment from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Barclays boosted their target price on shares of New Residential Investment from $16.00 to $19.00 and gave the stock an “overweight” rating in a report on Tuesday, October 24th. Vetr upgraded shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $17.75 price target on the stock in a research report on Thursday, October 26th. Finally, B. Riley restated a “buy” rating and issued a $19.25 price target on shares of New Residential Investment in a research report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. New Residential Investment currently has a consensus rating of “Buy” and a consensus price target of $18.09.

Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its position in shares of New Residential Investment by 211.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,147,579 shares of the real estate investment trust’s stock valued at $33,416,000 after acquiring an additional 1,457,525 shares during the period. Yorktown Management & Research Co Inc acquired a new position in shares of New Residential Investment during the 3rd quarter valued at $20,913,000. Samlyn Capital LLC acquired a new position in shares of New Residential Investment during the 2nd quarter valued at $12,201,000. Assetmark Inc. lifted its position in shares of New Residential Investment by 11,974.7% during the 3rd quarter. Assetmark Inc. now owns 693,815 shares of the real estate investment trust’s stock valued at $11,608,000 after acquiring an additional 688,069 shares during the period. Finally, Chicago Equity Partners LLC lifted its position in shares of New Residential Investment by 166.6% during the 3rd quarter. Chicago Equity Partners LLC now owns 1,053,610 shares of the real estate investment trust’s stock valued at $17,627,000 after acquiring an additional 658,360 shares during the period. Hedge funds and other institutional investors own 48.49% of the company’s stock.

Shares of New Residential Investment (NYSE NRZ) opened at $17.43 on Thursday. New Residential Investment has a 1-year low of $15.03 and a 1-year high of $18.43. The firm has a market cap of $5,360.00, a P/E ratio of 5.64, a price-to-earnings-growth ratio of 8.04 and a beta of 1.02.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th will be given a $0.50 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 11.47%. New Residential Investment’s dividend payout ratio (DPR) is currently 64.72%.

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New Residential Investment Company Profile

New Residential Investment Corp. is a real estate investment trust (REIT). The Company focuses on investing in, and managing, investments related to residential real estate. The Company’s segments include investments in excess mortgage servicing rights (Excess MSRs); investments in mortgage servicing rights (MSRs); investments in servicer advances; investments in real estate securities; investments in residential mortgage loans; investments in consumer loans, and corporate.

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