In the latest trading session, New Residential Investment (NRZ) closed at $16.98, marking a -0.47% move from the previous day. This change lagged the S&P 500's 0.22% loss on the day. Meanwhile, the Dow lost 0.08%, and the Nasdaq, a tech-heavy index, lost 0.36%.
Heading into today, shares of the real estate investment trust had gained 12.02% over the past month, outpacing the Finance sector's gain of 7.96% and the S&P 500's gain of 8.17% in that time.
Wall Street will be looking for positivity from NRZ as it approaches its next earnings report date. This is expected to be February 12, 2019. The company is expected to report EPS of $0.55, down 9.84% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $210.42 million, down 10.56% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for NRZ. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.83% lower. NRZ is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, NRZ currently has a Forward P/E ratio of 7.45. This represents a discount compared to its industry's average Forward P/E of 9.52.
Meanwhile, NRZ's PEG ratio is currently 7.45. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The REIT and Equity Trust was holding an average PEG ratio of 2.52 at yesterday's closing price.
The REIT and Equity Trust industry is part of the Finance sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NRZ in the coming trading sessions, be sure to utilize Zacks.com.
New Residential Investment Corp. (NRZ): Free Stock Analysis Report
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