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New Residential Investment (NRZ) closed at $10.87 in the latest trading session, marking a +0.93% move from the prior day. This change outpaced the S&P 500's 0.41% loss on the day. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq gained 0.13%.
Prior to today's trading, shares of the real estate investment trust had lost 4.35% over the past month. This has lagged the Finance sector's gain of 4.72% and the S&P 500's gain of 2.36% in that time.
Investors will be hoping for strength from New Residential Investment as it approaches its next earnings release. The company is expected to report EPS of $0.37, up 15.63% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $218.46 million, up 92.57% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for New Residential Investment. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.14% lower within the past month. New Residential Investment is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note New Residential Investment's current valuation metrics, including its Forward P/E ratio of 6.34. For comparison, its industry has an average Forward P/E of 9.04, which means New Residential Investment is trading at a discount to the group.
The REIT and Equity Trust industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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