Zacks: Brokerages Anticipates New Residential Investment Corp. (NYSE: NRZ) to Post Quarterly Sales of $ 163.80 Million
Analysts predict that New Residential Investment Corp. (NYSE: NRZ) will post $ 163.80 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have released earnings estimates for New Residential Investment, with the highest sales estimate at $ 169.59 million and the lowest estimate at $ 158.00 million. New residential investment posted sales of $ 103.32 million in the same quarter last year, suggesting a positive growth rate of 58.5% year over year. The company is expected to report its next results on Monday, October 25.
Zacks says analysts expect New Residential Investment to report annual sales of $ 618.32 million for the current fiscal year, with estimates ranging from $ 613.00 million to $ 623.64 million . For next year, analysts predict the company will post sales of $ 697.63 million, with estimates ranging from $ 647.26 million to $ 748.00 million. Zacks Investment Research sales averages are an average based on a survey of sales-side research analysts who track New Residential Investment.
New Residential Investment (NYSE: NRZ) last released its quarterly results on Thursday, July 29. The real estate investment trust reported earnings per share (EPS) of $ 0.31 for the quarter, hitting analyst consensus estimates of $ 0.31. New residential investment had a net margin of 61.81% and a return on equity of 12.73%.
Several equity research analysts have weighed on NRZ stocks recently. Zacks Investment Research upgraded new residential investment from a “sell” rating to a “conservation” rating in a Wednesday, August 11 research note. Raymond James increased his price target on the New Residential Investment stock from $ 12.50 to $ 13.00 and rated the stock as “outperforming” in a research report released Thursday, May 20. Two research analysts rated the stock with a conservation rating and twelve gave the stock a buy rating. The new residential investment currently has a consensus rating of “Buy” and a consensus price target of $ 11.58.
The new residential investment stock opened at $ 9.70 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38, and a debt ratio of 0.10. The fifty-day moving average share price is $ 10.04. The stock has a market cap of $ 4.53 billion, a PE ratio of 7.70 and a beta of 1.91. New residential investment has a 12-month low of $ 7.11 and a 12-month high of $ 11.48.
The company also recently announced a quarterly dividend, which was paid on Friday, July 30. Shareholders of record on Friday July 2 received a dividend of $ 0.20 per share. This represents an annualized dividend of $ 0.80 and a return of 8.25%. The ex-dividend date was Thursday July 1. New Residential Investment’s payout ratio is 54.79%.
Large investors have recently increased or reduced their stakes in the company. Harbor Investments Inc. acquired a new position in New Residential Investment during the first quarter valued at approximately $ 25,000. Tradewinds Capital Management LLC acquired a new equity interest in New Residential Investment in the second quarter valued at approximately $ 26,000. Tradition Wealth Management LLC acquired a new equity interest in New Residential Investment in the second quarter valued at approximately $ 29,000. TCI Wealth Advisors Inc. increased its stake in New Residential Investment by 1,807.2% in the second quarter. TCI Wealth Advisors Inc. now owns 3,166 real estate investment trust shares valued at $ 34,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Horan Securities Inc. acquired a new position in New Residential Investment during the second quarter valued at $ 40,000. Hedge funds and other institutional investors hold 40.05% of the company’s shares.
New residential investment company profile
New Residential Investment Corp., a real estate investment trust, focuses on the investment and management of residential mortgage-related assets in the United States. It operates through five segments: assembly, maintenance, MSR-related investments, residential securities and loans, and consumer loans. The company invests in excess mortgage management rights (MSRs) on residential mortgages; and service advances, including the base charge component of the corresponding MSRs.
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