Brokers Set Expectations for New Residential Investment Corp’s Q3 2020 Earnings (NYSE:NRZ)

New Residential Investment Corp (NYSE:NRZ) – Analysts at B. Riley increased their Q3 2020 EPS estimates for shares of New Residential Investment in a report issued on Tuesday, September 15th. B. Riley analyst T. Hayes now anticipates that the real estate investment trust will post earnings of $0.38 per share for the quarter, up from their previous estimate of $0.30. B. Riley has a “Buy” rating and a $9.00 price objective on the stock. B. Riley also issued estimates for New Residential Investment’s Q1 2021 earnings at $0.35 EPS, Q2 2021 earnings at $0.39 EPS, Q3 2021 earnings at $0.40 EPS, Q4 2021 earnings at $0.35 EPS and FY2021 earnings at $1.48 EPS.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut New Residential Investment from a “buy” rating to a “hold” rating in a report on Tuesday, August 4th. Credit Suisse Group reaffirmed a “buy” rating on shares of New Residential Investment in a report on Tuesday, September 8th. Raymond James lifted their price objective on New Residential Investment from $8.50 to $10.50 and gave the stock an “outperform” rating in a report on Thursday, August 20th. ValuEngine cut New Residential Investment from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 4th. Finally, Piper Sandler raised New Residential Investment from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $8.50 to $9.50 in a research report on Thursday, July 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. New Residential Investment presently has a consensus rating of “Buy” and an average price target of $12.09.

Shares of NRZ stock opened at $8.12 on Wednesday. The stock has a fifty day moving average price of $7.84 and a 200 day moving average price of $7.67. The stock has a market cap of $3.38 billion, a PE ratio of -2.87 and a beta of 1.75. New Residential Investment has a 1 year low of $2.91 and a 1 year high of $17.66. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.41 and a current ratio of 0.41.

New Residential Investment (NYSE:NRZ) last issued its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.04. The firm had revenue of $115.80 million during the quarter, compared to analysts’ expectations of $87.87 million. New Residential Investment had a positive return on equity of 14.32% and a negative net margin of 74.42%.

In other New Residential Investment news, Director Alan L. Tyson acquired 10,000 shares of the stock in a transaction dated Monday, July 27th. The stock was acquired at an average price of $7.72 per share, with a total value of $77,200.00. Following the completion of the transaction, the director now directly owns 149,158 shares in the company, valued at $1,151,499.76. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.68% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of New Residential Investment by 47.2% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 102,300 shares of the real estate investment trust’s stock worth $760,000 after purchasing an additional 32,800 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of New Residential Investment by 9.8% during the second quarter. Principal Financial Group Inc. now owns 173,064 shares of the real estate investment trust’s stock worth $1,286,000 after purchasing an additional 15,489 shares in the last quarter. Handelsbanken Fonder AB acquired a new position in shares of New Residential Investment during the second quarter worth about $718,000. Nuveen Asset Management LLC lifted its stake in shares of New Residential Investment by 21.1% during the second quarter. Nuveen Asset Management LLC now owns 1,692,369 shares of the real estate investment trust’s stock worth $12,575,000 after purchasing an additional 295,324 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of New Residential Investment by 6.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,179,041 shares of the real estate investment trust’s stock worth $23,621,000 after purchasing an additional 203,769 shares in the last quarter. 45.59% 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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