Brokerages predict that New Residential Investment Corp (NYSE:NRZ) will announce sales of $236.92 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for New Residential Investment’s earnings, with estimates ranging from $204.70 million to $271.00 million. New Residential Investment posted sales of $262.72 million during the same quarter last year, which suggests a negative year-over-year growth rate of 9.8%. The firm is expected to report its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that New Residential Investment will report full-year sales of $912.94 million for the current financial year, with estimates ranging from $842.40 million to $1.01 billion. For the next year, analysts anticipate that the business will post sales of $944.49 million, with estimates ranging from $767.00 million to $1.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for New Residential Investment.

New Residential Investment (NYSE:NRZ) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). The company had revenue of $188.04 million for the quarter, compared to the consensus estimate of $240.28 million. New Residential Investment had a return on equity of 13.22% and a net margin of 17.24%. During the same period in the previous year, the firm posted $0.58 EPS.

A number of research firms have weighed in on NRZ. BTIG Research began coverage on shares of New Residential Investment in a research note on Friday, September 6th. They set a “buy” rating and a $18.00 target price on the stock. B. Riley set a $19.00 target price on shares of New Residential Investment and gave the stock a “buy” rating in a research note on Thursday, August 29th. Zacks Investment Research cut shares of New Residential Investment from a “hold” rating to a “sell” rating in a research note on Tuesday, September 3rd. Wedbush reissued an “outperform” rating on shares of New Residential Investment in a research note on Monday, August 19th. Finally, ValuEngine cut shares of New Residential Investment from a “hold” rating to a “sell” rating in a research note on Tuesday, July 9th. Two analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. New Residential Investment currently has a consensus rating of “Buy” and a consensus target price of $18.75.

Shares of NYSE NRZ traded up $0.13 during midday trading on Tuesday, reaching $15.11. 2,435,403 shares of the company were exchanged, compared to its average volume of 3,111,049. The stock’s 50-day moving average price is $14.67 and its 200-day moving average price is $15.83. The stock has a market cap of $6.22 billion, a P/E ratio of 6.35 and a beta of 1.10. New Residential Investment has a one year low of $13.63 and a one year high of $18.37.

Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in New Residential Investment by 2.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,768 shares of the real estate investment trust’s stock valued at $385,000 after buying an additional 651 shares during the period. Grassi Investment Management lifted its holdings in New Residential Investment by 4.5% in the second quarter. Grassi Investment Management now owns 18,700 shares of the real estate investment trust’s stock valued at $288,000 after buying an additional 800 shares during the period. Metropolitan Life Insurance Co NY lifted its holdings in New Residential Investment by 9.3% in the first quarter. Metropolitan Life Insurance Co NY now owns 9,747 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 828 shares during the period. Eqis Capital Management Inc. lifted its holdings in New Residential Investment by 1.8% in the second quarter. Eqis Capital Management Inc. now owns 46,804 shares of the real estate investment trust’s stock valued at $720,000 after buying an additional 849 shares during the period. Finally, United Capital Financial Advisers LLC lifted its holdings in New Residential Investment by 2.2% in the second quarter. United Capital Financial Advisers LLC now owns 40,191 shares of the real estate investment trust’s stock valued at $637,000 after buying an additional 850 shares during the period. 53.25% of the stock is currently owned by institutional investors.

New Residential Investment Company Profile

New Residential Investment Corp., a real estate investment trust, focuses on investing in and managing residential mortgage related assets in the United States. It operates through Servicing and Originations, Residential Securities and Loans, and Consumer Loans segments. The company invests in excess mortgage servicing rights (MSRs) on residential mortgage loans; and in servicer advances, including the basic fee component of the related MSRs.

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Earnings History and Estimates for New Residential Investment (NYSE:NRZ)

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