New Residential Investment Corp. (NYSE:NRZ) Expected to Post Quarterly Sales of $252.30 Million
Brokerages expect that New Residential Investment Corp. (NYSE:NRZ – Get Rating) will report sales of $252.30 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for New Residential Investment’s earnings, with the lowest sales estimate coming in at $243.00 million and the highest estimate coming in at $261.60 million. New Residential Investment reported sales of $147.14 million during the same quarter last year, which indicates a positive year-over-year growth rate of 71.5%. The company is expected to report its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that New Residential Investment will report full-year sales of $1.05 billion for the current fiscal year, with estimates ranging from $1.01 billion to $1.09 billion. For the next year, analysts anticipate that the company will post sales of $1.24 billion, with estimates ranging from $1.22 billion to $1.26 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover New Residential Investment.
New Residential Investment (NYSE:NRZ – Get Rating) last issued its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. New Residential Investment had a net margin of 28.82% and a return on equity of 13.84%. During the same period in the prior year, the firm posted $0.34 EPS.
A number of research analysts recently issued reports on NRZ shares. Zacks Investment Research cut New Residential Investment from a “hold” rating to a “sell” rating in a report on Thursday, February 17th. StockNews.com raised New Residential Investment from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Raymond James boosted their price objective on New Residential Investment from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday, March 29th. Finally, Piper Sandler cut New Residential Investment from an “overweight” rating to a “neutral” rating and set a $12.00 price target for the company. in a research note on Thursday, May 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $12.50.
Several institutional investors have recently made changes to their positions in NRZ. TCI Wealth Advisors Inc. raised its stake in shares of New Residential Investment by 311.1% during the 1st quarter. TCI Wealth Advisors Inc. now owns 2,454 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 1,857 shares in the last quarter. Quent Capital LLC raised its stake in New Residential Investment by 468.2% in the 1st quarter. Quent Capital LLC now owns 2,801 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 2,308 shares during the period. Huntington National Bank bought a new stake in New Residential Investment in the 4th quarter valued at $32,000. UMB Bank N A MO bought a new stake in New Residential Investment in the 4th quarter valued at $32,000. Finally, First Horizon Advisors Inc. raised its stake in New Residential Investment by 207.1% in the 4th quarter. First Horizon Advisors Inc. now owns 3,329 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 2,245 shares during the period. Institutional investors own 46.48% of the company’s stock.
New Residential Investment stock opened at $11.27 on Monday. The stock has a 50-day simple moving average of $10.74 and a 200 day simple moving average of $10.75. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.09. New Residential Investment has a 12-month low of $8.98 and a 12-month high of $11.81. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 4.99 and a beta of 1.67.
The company also recently declared a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Monday, April 4th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.87%. The ex-dividend date was Friday, April 1st. New Residential Investment’s dividend payout ratio (DPR) is currently 44.25%.
New Residential Investment Company Profile (Get Rating)
New Residential Investment Corp. operates as a real estate investment trust in the United States. It operates through Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans, and Corporate segments. The company invests in mortgage servicing rights, mortgage origination and servicing companies, residential mortgage-backed securities, properties and loans, consumer loans, and other opportunistic investments.
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