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

Equities research analysts expect New Residential Investment Corp. (NYSE:NRZGet Rating) to report $249.30 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for New Residential Investment’s earnings. The lowest sales estimate is $237.00 million and the highest is $261.60 million. New Residential Investment reported sales of $147.14 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 69.4%. The firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that New Residential Investment will report full-year sales of $1.04 billion for the current fiscal year, with estimates ranging from $990.00 million to $1.09 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.26 billion, with estimates ranging from $1.22 billion to $1.30 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover New Residential Investment.

New Residential Investment (NYSE:NRZGet Rating) last released its earnings results on Tuesday, May 3rd. The real estate investment trust reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. New Residential Investment had a net margin of 28.82% and a return on equity of 13.84%. During the same period in the previous year, the company posted $0.34 earnings per share.

Several research firms have commented on NRZ. Zacks Investment Research cut shares of New Residential Investment from a “hold” rating to a “sell” rating in a research note on Thursday, February 17th. StockNews.com upgraded shares of New Residential Investment from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Raymond James lifted their price target on shares of New Residential Investment from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, March 29th. Finally, Piper Sandler lowered shares of New Residential Investment from an “overweight” rating to a “neutral” rating and set a $12.00 price target on the stock. in a report on Thursday, May 5th. 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 company’s stock. According to data from MarketBeat, New Residential Investment presently has an average rating of “Buy” and an average price target of $12.50.

Several large investors have recently bought and sold shares of NRZ. Metropolitan Life Insurance Co NY lifted 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 valued at $164,000 after acquiring an additional 828 shares in the last quarter. FMR LLC lifted its holdings in New Residential Investment by 62.2% in 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 in the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in New Residential Investment by 50.8% in 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 in the last quarter. Morgan Stanley lifted its holdings in New Residential Investment by 40.6% in 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 in the last quarter. Finally, SG Americas Securities LLC acquired a new position in New Residential Investment in the 3rd quarter worth $479,000. Institutional investors and hedge funds own 46.48% of the company’s stock.

NRZ stock traded up $0.39 during midday trading on Monday, hitting $10.86. The stock had a trading volume of 7,528,794 shares, compared to its average volume of 6,198,351. The firm has a market cap of $5.07 billion, a PE ratio of 4.81 and a beta of 1.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.44 and a quick ratio of 0.53. New Residential Investment has a 12-month low of $8.98 and a 12-month high of $11.81. The company’s 50-day moving average price is $10.64 and its 200 day moving average price is $10.79.

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

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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