$185.89 Million in Sales Expected for New Residential Inv (NRZ) This Quarter

Brokerages expect that New Residential Inv (NYSE:NRZ) will post $185.89 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for New Residential Inv’s earnings, with estimates ranging from $158.77 million to $213.00 million. New Residential Inv posted sales of $194.31 million in the same quarter last year, which suggests a negative year over year growth rate of 4.3%. The company is expected to issue its next earnings report on Monday, May 7th.

According to Zacks, analysts expect that New Residential Inv will report full-year sales of $185.89 million for the current financial year, with estimates ranging from $634.83 million to $826.60 million. For the next financial year, analysts expect that the company will post sales of $710.65 million per share, with estimates ranging from $636.90 million to $784.40 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for New Residential Inv.

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

A number of analysts recently issued reports on NRZ shares. Zacks Investment Research downgraded shares of New Residential Inv from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Wedbush raised shares of New Residential Inv from a “neutral” rating to an “outperform” rating and set a $20.00 target price for the company in a research report on Thursday, January 18th. ValuEngine downgraded shares of New Residential Inv from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Vetr raised shares of New Residential Inv from a “buy” rating to a “strong-buy” rating and set a $18.76 price objective for the company in a research report on Monday, February 5th. Finally, B. Riley set a $19.00 price objective on shares of New Residential Inv and gave the company a “buy” rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $18.64.

NRZ traded down $0.12 on Friday, reaching $16.32. 1,577,050 shares of the company’s stock were exchanged, compared to its average volume of 3,615,951. The company has a market cap of $5,482.37, a PE ratio of 5.77 and a beta of 0.91. New Residential Inv has a twelve month low of $15.04 and a twelve month high of $18.43.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Monday, April 2nd will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 12.25%. The ex-dividend date of this dividend is Thursday, March 29th. New Residential Inv’s dividend payout ratio (DPR) is 70.67%.

A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC grew its position in New Residential Inv 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 acquiring an additional 145,935 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of New Residential Inv by 1.2% during the 3rd 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 buying an additional 32,892 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of New Residential Inv by 535.6% during the 4th 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 buying an additional 2,225,000 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of New Residential Inv by 5.2% during the 4th 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 buying an additional 115,163 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of New Residential Inv by 6.6% during the 4th 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 buying an additional 114,960 shares during the last quarter. 48.41% of the stock is owned by institutional investors.

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New Residential Inv Company Profile

New Residential Investment Corp., a real estate investment trust, focuses on investing in and managing residential mortgage related assets in the United States. It operates through Servicing Related Assets, Residential Securities and Loans, and Other Investments segments. The company invests in excess mortgage servicing rights (MSRs) on residential mortgage loans; and in servicer advances, including the basic fee component of the related MSRs.

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

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