New Residential Investment Corp (NRZ) Expected to Post Quarterly Sales of $178.15 Million

Brokerages predict that New Residential Investment Corp (NYSE:NRZ) will report $178.15 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for New Residential Investment’s earnings, with estimates ranging from $150.89 million to $205.40 million. New Residential Investment posted sales of $231.81 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 23.1%. The business is expected to announce its next earnings results on Tuesday, February 20th.

On average, analysts expect that New Residential Investment will report full year sales of $178.15 million for the current year, with estimates ranging from $974.44 million to $1.03 billion. For the next fiscal year, analysts anticipate that the business will report sales of $706.48 million per share, with estimates ranging from $586.35 million to $826.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow New Residential Investment.

NRZ has been the subject of several recent research reports. Vetr upgraded New Residential Investment from a “hold” rating to a “buy” rating and set a $17.75 price objective for the company in a report on Thursday, October 26th. Barclays boosted their price objective on New Residential Investment from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, October 24th. Zacks Investment Research downgraded New Residential Investment from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. ValuEngine downgraded New Residential Investment from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Finally, B. Riley restated a “buy” rating on shares of New Residential Investment in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. New Residential Investment has a consensus rating of “Buy” and an average price target of $18.66.

Shares of New Residential Investment (NYSE NRZ) opened at $16.78 on Wednesday. The company has a market capitalization of $5,580.00, a P/E ratio of 5.43 and a beta of 0.92. New Residential Investment has a 1-year low of $15.04 and a 1-year high of $18.43.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Friday, December 29th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.00 annualized dividend and a dividend yield of 11.92%. New Residential Investment’s payout ratio is 64.72%.

Large investors have recently made changes to their positions in the stock. Dupont Capital Management Corp boosted its position in shares of New Residential Investment by 55.3% during the third quarter. Dupont Capital Management Corp now owns 277,700 shares of the real estate investment trust’s stock valued at $4,646,000 after buying an additional 98,900 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of New Residential Investment by 19.7% during the third quarter. Meeder Asset Management Inc. now owns 25,156 shares of the real estate investment trust’s stock valued at $421,000 after buying an additional 4,135 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of New Residential Investment by 6.7% during the third quarter. Wells Fargo & Company MN now owns 709,541 shares of the real estate investment trust’s stock valued at $11,870,000 after buying an additional 44,478 shares during the last quarter. BB&T Securities LLC boosted its position in shares of New Residential Investment by 2.8% during the third quarter. BB&T Securities LLC now owns 482,718 shares of the real estate investment trust’s stock valued at $8,075,000 after buying an additional 13,294 shares during the last quarter. Finally, Invictus RG purchased a new position in shares of New Residential Investment during the third quarter valued at approximately $320,000. 45.14% of the stock is currently owned by institutional investors.

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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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