New Residential Inv (NRZ) Expected to Post Quarterly Sales of $185.89 Million

Equities research analysts predict that New Residential Inv (NYSE:NRZ) will announce $185.89 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for New Residential Inv’s earnings, with the highest sales estimate coming in at $213.00 million and the lowest estimate coming in at $158.77 million. New Residential Inv posted sales of $194.31 million in the same quarter last year, which would indicate a negative year over year growth rate of 4.3%. The business is scheduled to report its next quarterly earnings report on Monday, May 7th.

On average, analysts expect that New Residential Inv will report full-year sales of $185.89 million for the current financial year, with estimates ranging from $634.83 million to $826.60 million. For the next year, analysts forecast that the business will post sales of $710.65 million per share, with estimates ranging from $636.90 million to $784.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for New Residential Inv.

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New Residential Inv (NYSE:NRZ) last released its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. The firm had revenue of $235.27 million during the quarter, compared to analyst estimates of $178.15 million. New Residential Inv had a net margin of 63.01% and a return on equity of 18.73%. During the same period in the previous year, the business earned $0.62 EPS.

A number of analysts have recently issued reports on NRZ shares. Vetr downgraded shares of New Residential Inv from a “strong-buy” rating to a “buy” rating and set a $18.60 price objective for the company. in a report on Monday, March 12th. B. Riley set a $19.00 price objective on shares of New Residential Inv and gave the stock a “buy” rating in a report on Tuesday, February 13th. ValuEngine downgraded shares of New Residential Inv from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of New Residential Inv from a “sell” rating to a “hold” rating in a report on Thursday, March 15th. Finally, Wedbush raised shares of New Residential Inv from a “neutral” rating to an “outperform” rating and set a $20.00 price objective for the company in a report on Thursday, January 18th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.64.

Shares of NRZ traded down $0.38 during mid-day trading on Friday, reaching $16.07. 2,409,134 shares of the stock traded hands, compared to its average volume of 3,661,241. New Residential Inv has a 1 year low of $15.04 and a 1 year high of $18.43. The firm has a market capitalization of $5,529.43, a P/E ratio of 5.69 and a beta of 0.91.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Monday, April 2nd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 12.45%. The ex-dividend date is Thursday, March 29th. New Residential Inv’s dividend payout ratio is currently 70.67%.

Several hedge funds and other institutional investors have recently bought and sold shares of NRZ. Raymond James Financial Services Advisors Inc. lifted its stake in New Residential Inv by 11.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 56,826 shares of the real estate investment trust’s stock worth $951,000 after purchasing an additional 5,664 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in New Residential Inv by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 2,872,643 shares of the real estate investment trust’s stock worth $48,058,000 after purchasing an additional 32,892 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in New Residential Inv by 7,053.7% in the third quarter. Russell Investments Group Ltd. now owns 20,102 shares of the real estate investment trust’s stock worth $337,000 after purchasing an additional 19,821 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in New Residential Inv by 6.4% in the third quarter. Ameriprise Financial Inc. now owns 362,067 shares of the real estate investment trust’s stock worth $6,110,000 after purchasing an additional 21,754 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in New Residential Inv in the third quarter worth $374,000. 48.41% of the stock is owned by institutional investors.

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About New Residential Inv

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 Related Assets, Residential Securities and Loans, and Other Investments 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 Inv (NYSE:NRZ)

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