New Residential Investment (NRZ) closed at $15.05 in the latest trading session, marking a -0.4% move from the prior day. This move lagged the S&P 500's daily gain of 0.26%. Elsewhere, the Dow gained 0.13%, while the tech-heavy Nasdaq added 0.4%.
Coming into today, shares of the real estate investment trust had gained 5.96% in the past month. In that same time, the Finance sector gained 4.97%, while the S&P 500 gained 3.92%.
NRZ will be looking to display strength as it nears its next earnings release. In that report, analysts expect NRZ to post earnings of $0.54 per share. This would mark a year-over-year decline of 14.29%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $236.92 million, down 9.82% from the year-ago period.
NRZ's full-year Zacks Consensus Estimates are calling for earnings of $2.15 per share and revenue of $912.94 million. These results would represent year-over-year changes of -9.66% and -13.69%, respectively.
Investors should also note any recent changes to analyst estimates for NRZ. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.68% lower. NRZ currently has a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that NRZ has a Forward P/E ratio of 7.03 right now. This represents a discount compared to its industry's average Forward P/E of 10.13.
The REIT and Equity Trust industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
New Residential Investment Corp. (NRZ) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research