New Residential Investment Corp. (NYSE:NRZ) Expected to Announce Quarterly Sales of $249.30 Million

Equities analysts predict that New Residential Investment Corp. (NYSE:NRZGet Rating) will post sales of $249.30 million for the current quarter, according to Zacks. Two analysts have made estimates for New Residential Investment’s earnings, with the highest sales estimate coming in at $261.60 million and the lowest estimate coming in at $237.00 million. New Residential Investment posted sales of $147.14 million in the same quarter last year, which suggests a positive year over year growth rate of 69.4%. The firm is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that New Residential Investment will report full year sales of $1.04 billion for the current financial year, with estimates ranging from $990.00 million to $1.09 billion. For the next year, analysts anticipate that the firm will post sales of $1.26 billion, with estimates ranging from $1.22 billion to $1.30 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow New Residential Investment.

New Residential Investment (NYSE:NRZGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. New Residential Investment had a return on equity of 13.84% and a net margin of 28.82%. During the same quarter last year, the business posted $0.34 EPS.

A number of research analysts have recently commented on the company. Piper Sandler lowered New Residential Investment from an “overweight” rating to a “neutral” rating and set a $12.00 price objective on the stock. in a report on Thursday, May 5th. Raymond James raised their target price on New Residential Investment from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, March 29th. Zacks Investment Research lowered New Residential Investment from a “hold” rating to a “sell” rating in a report on Thursday, February 17th. Finally, StockNews.com raised New Residential Investment from a “hold” rating to a “buy” rating in a report on Monday, May 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, New Residential Investment has an average rating of “Buy” and an average price target of $12.50.

Shares of NYSE NRZ traded up $0.39 during mid-day trading on Monday, reaching $10.86. 7,528,794 shares of the company traded hands, compared to its average volume of 6,198,351. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.53 and a current ratio of 0.44. The stock has a market cap of $5.07 billion, a PE ratio of 4.81 and a beta of 1.67. The company’s fifty day moving average is $10.64 and its two-hundred day moving average is $10.79. New Residential Investment has a fifty-two week low of $8.98 and a fifty-two week high of $11.81.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Monday, April 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.21%. The ex-dividend date of this dividend was Friday, April 1st. New Residential Investment’s payout ratio is presently 44.25%.

Several large investors have recently made changes to their positions in NRZ. Metropolitan Life Insurance Co NY grew its holdings in shares of New Residential Investment by 9.3% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 9,747 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 828 shares in the last quarter. FMR LLC lifted its position in shares of New Residential Investment by 62.2% during the 1st quarter. FMR LLC now owns 779,914 shares of the real estate investment trust’s stock worth $13,189,000 after buying an additional 299,097 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in shares of New Residential Investment by 50.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 250,386 shares of the real estate investment trust’s stock worth $4,234,000 after buying an additional 84,355 shares during the period. Morgan Stanley lifted its position in shares of New Residential Investment by 40.6% during the 2nd quarter. Morgan Stanley now owns 2,770,097 shares of the real estate investment trust’s stock worth $29,335,000 after buying an additional 800,566 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of New Residential Investment during the 3rd quarter worth approximately $479,000. 46.48% of the stock is currently owned by institutional investors.

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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