Wall Street brokerages expect New Residential Inv (NYSE:NRZ) to announce earnings of $0.55 per share for the current quarter, according to Zacks. Two analysts have made estimates for New Residential Inv’s earnings, with the lowest EPS estimate coming in at $0.53 and the highest estimate coming in at $0.57. New Residential Inv posted earnings of $0.54 per share during the same quarter last year, which indicates a positive year over year growth rate of 1.9%. The business is scheduled to issue its next earnings report on Monday, May 7th.
According to Zacks, analysts expect that New Residential Inv will report full-year earnings of $2.19 per share for the current financial year, with EPS estimates ranging from $2.10 to $2.30. For the next year, analysts expect that the business will post earnings of $2.17 per share, with EPS estimates ranging from $2.00 to $2.32. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for New Residential Inv.
New Residential Inv (NYSE:NRZ) last issued its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.07. New Residential Inv had a return on equity of 18.73% and a net margin of 63.01%. The company had revenue of $235.27 million during the quarter, compared to analyst estimates of $178.15 million. During the same period in the previous year, the company earned $0.62 earnings per share.
A number of research analysts recently commented on the company. Vetr upgraded New Residential Inv from a “buy” rating to a “strong-buy” rating and set a $18.76 target price for the company in a research note on Monday, February 5th. ValuEngine lowered New Residential Inv from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. B. Riley set a $19.00 target price on New Residential Inv and gave the company a “buy” rating in a research note on Tuesday, February 13th. Wedbush upgraded New Residential Inv from a “neutral” rating to an “outperform” rating and set a $20.00 target price for the company in a research note on Thursday, January 18th. Finally, Zacks Investment Research upgraded New Residential Inv from a “sell” rating to a “hold” rating in a research note on Thursday, March 15th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. New Residential Inv has an average rating of “Buy” and an average target price of $18.64.
A number of institutional investors have recently added to or reduced their stakes in NRZ. American International Group Inc. acquired a new position in New Residential Inv during the fourth quarter worth $115,000. Grisanti Capital Management LLC acquired a new position in New Residential Inv during the fourth quarter worth $197,000. Lido Advisors LLC acquired a new position in New Residential Inv during the fourth quarter worth $198,000. Vident Investment Advisory LLC acquired a new position in New Residential Inv during the third quarter worth $205,000. Finally, Bank of Hawaii acquired a new position in New Residential Inv during the fourth quarter worth $227,000. Hedge funds and other institutional investors own 48.41% of the company’s stock.
Shares of NYSE NRZ opened at $16.13 on Friday. The firm has a market capitalization of $5,458.84, a P/E ratio of 5.70 and a beta of 0.91. New Residential Inv has a one year low of $15.04 and a one year high of $18.43.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Monday, April 2nd will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, March 29th. This represents a $2.00 annualized dividend and a yield of 12.40%. New Residential Inv’s dividend payout ratio is currently 70.67%.
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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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