New Residential Investment Corp (NRZ) Expected to Announce Quarterly Sales of $178.15 Million

Wall Street brokerages expect New Residential Investment Corp (NYSE:NRZ) to announce sales of $178.15 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for New Residential Investment’s earnings. The lowest sales estimate is $150.89 million and the highest is $205.40 million. New Residential Investment reported sales of $231.81 million in the same quarter last year, which would suggest a negative year over year growth rate of 23.1%. The business is scheduled to announce its next earnings results on Tuesday, February 20th.

According to Zacks, analysts expect that New Residential Investment will report full-year sales of $178.15 million for the current year, with estimates ranging from $974.44 million to $1.03 billion. For the next year, analysts forecast that the business will report sales of $706.48 million per share, with estimates ranging from $586.35 million to $826.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover New Residential Investment.

NRZ has been the topic of several analyst reports. Zacks Investment Research downgraded shares of New Residential Investment from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Barclays lifted their target price on shares of New Residential Investment from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 24th. Wedbush raised shares of New Residential Investment from a “neutral” rating to an “outperform” rating and set a $20.00 target price on the stock in a research report on Thursday, January 18th. Vetr raised shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $17.75 target price on the stock in a research report on Thursday, October 26th. Finally, B. Riley reissued a “buy” rating and issued a $19.25 target price on shares of New Residential Investment in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $18.66.

New Residential Investment (NYSE:NRZ) opened at $16.78 on Wednesday. The firm has a market cap of $5,580.00, a P/E ratio of 5.43 and a beta of 0.92. New Residential Investment has a 1 year low of $15.04 and a 1 year high of $18.43.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Friday, December 29th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 11.92%. The ex-dividend date of this dividend was Thursday, December 28th. New Residential Investment’s dividend payout ratio is currently 64.72%.

Several hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its holdings in shares of New Residential Investment by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 2,872,643 shares of the real estate investment trust’s stock worth $48,058,000 after purchasing an additional 32,892 shares during the period. Bank of Montreal Can boosted its holdings in shares of New Residential Investment by 535.6% during the fourth quarter. Bank of Montreal Can now owns 2,640,397 shares of the real estate investment trust’s stock worth $47,210,000 after purchasing an additional 2,225,000 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of New Residential Investment by 211.2% during the second quarter. Goldman Sachs Group Inc. now owns 2,147,579 shares of the real estate investment trust’s stock worth $33,416,000 after purchasing an additional 1,457,525 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of New Residential Investment by 6.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,849,926 shares of the real estate investment trust’s stock worth $33,077,000 after purchasing an additional 114,960 shares during the period. Finally, American Assets Capital Advisers LLC boosted its holdings in shares of New Residential Investment by 35.6% during the fourth quarter. American Assets Capital Advisers LLC now owns 1,479,504 shares of the real estate investment trust’s stock worth $26,453,000 after purchasing an additional 388,234 shares during the period. Institutional investors and hedge funds own 45.14% of the company’s stock.

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New Residential Investment Company Profile

New Residential Investment Corp. is a real estate investment trust (REIT). The Company focuses on investing in, and managing, investments related to residential real estate. The Company’s segments include investments in excess mortgage servicing rights (Excess MSRs); investments in mortgage servicing rights (MSRs); investments in servicer advances; investments in real estate securities; investments in residential mortgage loans; investments in consumer loans, and corporate.

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Earnings History and Estimates for New Residential Investment (NYSE:NRZ)

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