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Has New Residential Investment (NRZ) Outpaced Other Finance Stocks This Year?

Zacks Equity Research
L Brands (LB) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

Investors focused on the Finance space have likely heard of New Residential Investment (NRZ), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

New Residential Investment is one of 829 companies in the Finance group. The Finance group currently sits at #10 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. NRZ is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for NRZ's full-year earnings has moved 4.45% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, NRZ has moved about 1.57% on a year-to-date basis. At the same time, Finance stocks have lost an average of 1.03%. This means that New Residential Investment is performing better than its sector in terms of year-to-date returns.

Looking more specifically, NRZ belongs to the REIT and Equity Trust industry, a group that includes 31 individual stocks and currently sits at #57 in the Zacks Industry Rank. Stocks in this group have lost about 2.93% so far this year, so NRZ is performing better this group in terms of year-to-date returns.

Investors in the Finance sector will want to keep a close eye on NRZ as it attempts to continue its solid performance.


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