New Residential Investment Corp (NYSE:NRZ) Expected to Post Earnings of $0.54 Per Share

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Equities research analysts expect New Residential Investment Corp (NYSE:NRZ) to announce earnings per share (EPS) of $0.54 for the current quarter, Zacks reports. Three analysts have made estimates for New Residential Investment’s earnings, with the lowest EPS estimate coming in at $0.54 and the highest estimate coming in at $0.55. New Residential Investment posted earnings per share of $0.58 during the same quarter last year, which suggests a negative year over year growth rate of 6.9%. The business is scheduled to announce its next earnings results on Thursday, July 25th.

On average, analysts expect that New Residential Investment will report full-year earnings of $2.19 per share for the current fiscal year, with EPS estimates ranging from $2.15 to $2.21. For the next year, analysts anticipate that the business will post earnings of $2.26 per share, with EPS estimates ranging from $2.24 to $2.29. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow New Residential Investment.

New Residential Investment (NYSE:NRZ) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.53. The company had revenue of $423.08 million during the quarter, compared to analyst estimates of $403.45 million. New Residential Investment had a net margin of 29.22% and a return on equity of 13.39%. The firm’s revenue was up 62.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 EPS.

Several research firms recently issued reports on NRZ. Zacks Investment Research upgraded shares of New Residential Investment from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Thursday, May 2nd. Nomura assumed coverage on shares of New Residential Investment in a research note on Wednesday, March 27th. They issued a “buy” rating and a $18.50 price target for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $19.30.

Shares of NRZ stock opened at $15.36 on Friday. The stock has a market capitalization of $6.36 billion, a PE ratio of 6.45 and a beta of 1.12. New Residential Investment has a 52-week low of $13.86 and a 52-week high of $18.75.

In other news, Director Andrew Sloves bought 1,800 shares of New Residential Investment stock in a transaction on Tuesday, May 14th. The stock was acquired at an average cost of $16.65 per share, for a total transaction of $29,970.00. Following the completion of the acquisition, the director now owns 29,481 shares of the company’s stock, valued at approximately $490,858.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David Saltzman bought 14,174 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $16.66 per share, for a total transaction of $236,138.84. Following the transaction, the director now owns 38,887 shares of the company’s stock, valued at $647,857.42. The disclosure for this purchase can be found here. Company insiders own 0.47% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new stake in shares of New Residential Investment in the 4th quarter worth $677,000. Utah Retirement Systems increased its holdings in shares of New Residential Investment by 7.5% in the fourth quarter. Utah Retirement Systems now owns 67,446 shares of the real estate investment trust’s stock valued at $959,000 after purchasing an additional 4,700 shares during the period. Stratos Wealth Partners LTD. boosted its stake in shares of New Residential Investment by 8.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 20,390 shares of the real estate investment trust’s stock valued at $290,000 after buying an additional 1,667 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of New Residential Investment by 9.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 906,086 shares of the real estate investment trust’s stock valued at $12,875,000 after acquiring an additional 77,040 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new stake in shares of New Residential Investment in the fourth quarter valued at $26,000. 53.44% of the stock is owned by hedge funds and other institutional investors.

About New Residential Investment

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 and Originations, Residential Securities and Loans, and Consumer Loans 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 Investment (NYSE:NRZ)

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