Analysts Anticipate New Residential Investment Corp (NRZ) Will Post Earnings of $0.55 Per Share

Equities research analysts expect that New Residential Investment Corp (NYSE:NRZ) will report $0.55 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have issued estimates for New Residential Investment’s earnings. The highest EPS estimate is $0.57 and the lowest is $0.53. New Residential Investment reported earnings of $0.54 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.9%. The firm is expected to issue its next earnings results on Monday, May 7th.

According to Zacks, analysts expect that New Residential Investment will report full-year earnings of $2.18 per share for the current financial year, with EPS estimates ranging from $2.10 to $2.30. For the next financial year, analysts forecast that the business will post earnings of $2.12 per share, with EPS estimates ranging from $2.00 to $2.22. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow New Residential Investment.

New Residential Investment (NYSE:NRZ) last issued its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.07. New Residential Investment had a net margin of 63.01% and a return on equity of 18.73%. The business had revenue of $235.27 million for the quarter, compared to analyst estimates of $178.15 million. During the same period in the previous year, the business posted $0.62 earnings per share.

A number of research analysts have recently issued reports on NRZ shares. Zacks Investment Research lowered shares of New Residential Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Vetr upgraded shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $17.75 price target on the stock in a research note on Thursday, October 26th. Wedbush upgraded shares of New Residential Investment from a “neutral” rating to an “outperform” rating and set a $20.00 price target on the stock in a research note on Thursday, January 18th. FBR & Co reissued a “buy” rating and set a $19.25 price objective on shares of New Residential Investment in a report on Monday, October 30th. Finally, B. Riley set a $19.00 price objective on shares of New Residential Investment and gave the stock a “buy” rating in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the stock. New Residential Investment has a consensus rating of “Buy” and a consensus target price of $18.61.

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of New Residential Investment by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 2,881,995 shares of the real estate investment trust’s stock valued at $51,530,000 after purchasing an additional 145,935 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of New Residential Investment by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 2,872,643 shares of the real estate investment trust’s stock valued at $48,058,000 after purchasing an additional 32,892 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of New Residential Investment by 535.6% in the fourth quarter. Bank of Montreal Can now owns 2,640,397 shares of the real estate investment trust’s stock valued at $47,210,000 after purchasing an additional 2,225,000 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of New Residential Investment by 5.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,349,835 shares of the real estate investment trust’s stock valued at $42,015,000 after purchasing an additional 115,163 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of New Residential Investment by 6.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,849,926 shares of the real estate investment trust’s stock valued at $33,077,000 after purchasing an additional 114,960 shares in the last quarter. 48.79% of the stock is currently owned by hedge funds and other institutional investors.

New Residential Investment (NYSE NRZ) opened at $16.61 on Thursday. New Residential Investment has a one year low of $15.04 and a one year high of $18.43. The stock has a market cap of $5,633.63, a PE ratio of 5.32 and a beta of 0.93.

The business also recently disclosed 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 dividend on an annualized basis and a yield of 12.04%. The ex-dividend date was Thursday, December 28th. New Residential Investment’s dividend payout ratio is currently 64.10%.

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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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