New Residential Investment Corp (NRZ) Expected to Post Earnings of $0.54 Per Share

Wall Street analysts expect New Residential Investment Corp (NYSE:NRZ) to announce $0.54 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for New Residential Investment’s earnings, with the highest EPS estimate coming in at $0.59 and the lowest estimate coming in at $0.51. New Residential Investment reported earnings per share of $0.62 during the same quarter last year, which would suggest a negative year-over-year growth rate of 12.9%. The company is expected to announce its next quarterly earnings report on Tuesday, February 20th.

According to Zacks, analysts expect that New Residential Investment will report full-year earnings of $2.73 per share for the current fiscal year, with EPS estimates ranging from $2.66 to $2.80. For the next financial year, analysts forecast that the business will post earnings of $2.18 per share, with EPS estimates ranging from $2.10 to $2.30. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow New Residential Investment.

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

A number of equities research analysts recently commented on NRZ shares. Vetr raised New Residential Investment from a “hold” rating to a “buy” rating and set a $17.72 price target for the company in a research report on Monday, October 2nd. B. Riley reissued a “buy” rating on shares of New Residential Investment in a research report on Wednesday, November 1st. FBR & Co reissued a “buy” rating and issued a $19.25 price target on shares of New Residential Investment in a research report on Monday, October 30th. Zacks Investment Research lowered New Residential Investment from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Finally, Wedbush raised New Residential Investment from a “neutral” rating to an “outperform” rating and set a $20.00 price target for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $18.53.

Institutional investors have recently made changes to their positions in the company. Dupont Capital Management Corp increased its position in shares of New Residential Investment by 55.3% during the 3rd quarter. Dupont Capital Management Corp now owns 277,700 shares of the real estate investment trust’s stock valued at $4,646,000 after purchasing an additional 98,900 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in New Residential Investment by 19.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 25,156 shares of the real estate investment trust’s stock worth $421,000 after acquiring an additional 4,135 shares during the last quarter. Wells Fargo & Company MN increased its holdings in New Residential Investment by 6.7% in the 3rd quarter. Wells Fargo & Company MN now owns 709,541 shares of the real estate investment trust’s stock worth $11,870,000 after acquiring an additional 44,478 shares during the last quarter. BB&T Securities LLC increased its holdings in New Residential Investment by 2.8% in the 3rd quarter. BB&T Securities LLC now owns 482,718 shares of the real estate investment trust’s stock worth $8,075,000 after acquiring an additional 13,294 shares during the last quarter. Finally, Invictus RG purchased a new stake in New Residential Investment in the 3rd quarter worth about $320,000. 48.55% of the stock is owned by hedge funds and other institutional investors.

New Residential Investment (NYSE:NRZ) traded down $0.06 during midday trading on Friday, reaching $17.13. The company had a trading volume of 7,689,500 shares, compared to its average volume of 4,724,691. The stock has a market cap of $5,300.00, a price-to-earnings ratio of 5.54, a P/E/G ratio of 7.89 and a beta of 1.02. New Residential Investment has a twelve month low of $15.03 and a twelve month high of $18.43.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 11.68%. The ex-dividend date is Thursday, December 28th. New Residential Investment’s dividend payout ratio is presently 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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Earnings History and Estimates for New Residential Investment (NYSE:NRZ)

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