Equities research analysts expect New Residential Investment Corp (NYSE:NRZ) to announce $178.15 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for New Residential Investment’s earnings. The lowest sales estimate is $150.89 million and the highest is $205.40 million. New Residential Investment reported sales of $231.81 million in the same quarter last year, which would suggest a negative year over year growth rate of 23.1%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, February 20th.
According to Zacks, analysts expect that New Residential Investment will report full year sales of $178.15 million for the current fiscal year, with estimates ranging from $974.44 million to $1.03 billion. For the next financial year, analysts anticipate that the business will post sales of $706.48 million per share, with estimates ranging from $586.35 million to $826.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for New Residential Investment.
New Residential Investment (NYSE:NRZ) last released its earnings results on Friday, October 27th. The real estate investment trust reported $0.64 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $331.38 million for the quarter, compared to analyst estimates of $291.66 million. During the same quarter last year, the firm earned $0.51 EPS. The firm’s quarterly revenue was up 72.1% compared to the same quarter last year.
A number of brokerages have issued reports on NRZ. Vetr raised shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $17.72 price target on the stock in a report on Monday, October 2nd. ValuEngine raised shares of New Residential Investment from a “buy” rating to a “strong-buy” rating in a report on Monday, October 2nd. FBR & Co reissued a “buy” rating and issued a $17.50 price target on shares of New Residential Investment in a report on Monday, October 9th. Barclays raised their price target 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. Finally, B. Riley reissued a “buy” rating on shares of New Residential Investment in a report on Wednesday, November 1st. 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 company. New Residential Investment presently has an average rating of “Buy” and a consensus target price of $18.53.
A number of institutional investors have recently made changes to their positions in the business. Dupont Capital Management Corp lifted its position in shares of New Residential Investment by 55.3% in the 3rd quarter. Dupont Capital Management Corp now owns 277,700 shares of the real estate investment trust’s stock worth $4,646,000 after purchasing an additional 98,900 shares during the period. Meeder Asset Management Inc. lifted its position in shares of 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 purchasing an additional 4,135 shares during the period. Wells Fargo & Company MN lifted its position in shares of 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 purchasing an additional 44,478 shares during the period. BB&T Securities LLC lifted its position in shares of 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 purchasing an additional 13,294 shares during the period. Finally, Invictus RG purchased a new stake in shares of New Residential Investment in the 3rd quarter worth about $320,000. 48.55% of the stock is currently owned by institutional investors and hedge funds.
New Residential Investment (NRZ) opened at $17.24 on Friday. New Residential Investment has a twelve month low of $15.03 and a twelve month high of $18.43. The company has a market cap of $5,730.32, a price-to-earnings ratio of 5.58, a P/E/G ratio of 7.91 and a beta of 1.02.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 11.60%. The ex-dividend date of this dividend is Thursday, December 28th. New Residential Investment’s dividend payout ratio (DPR) is presently 64.72%.
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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