New Residential Investment Corp. (NYSE:NRZ)’s traded shares stood at 6,304,681 during the last session, with the company’s beta value hitting 1.75. At the close of trading, the stock’s price was $9.32, to imply an increase of 8.12% or $0.7 in intraday trading. The NRZ share’s 52-week high remains $17.66, putting it -89.49% down since that peak but still an impressive +68.78% since price per share fell to its 52-week low of $2.91. The company has a valuation of $3.88 Billion, with an average of 3.85 Million shares in intraday trading volume over the past 10 days and average of 4.53 Million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for New Residential Investment Corp. (NRZ), translating to a mean rating of 1.8. Of 11 analyst(s) looking at the stock, none analyst(s) give NRZ a Sell rating. 1 of those analysts rate the stock as Overweight while 1 advise Hold as 9 recommend it as a Buy. None analyst(s) have given it an Underweight rating. Estimates put the company’s earnings per share at $0.32.
New Residential Investment Corp. (NYSE:NRZ) trade information
After registering a 8.12% upside on the day, New Residential Investment Corp. (NRZ) has traded green over the past five days. The stock hit a weekly high of $9.42-0 this Friday, Nov 20, jumping 0.8% in its intraday price action. The 5-day price performance for the stock is 12.18%, and 10.85% over 30 days. With these gigs, the year-to-date price performance is -41.99%. Short interest in New Residential Investment Corp. (NYSE:NRZ) saw shorts transact 10.84 Million shares and set a 2.39 days time to cover.
Analysts on Wall Street suggest a consensus price target of $10.75, implying an increase of 15.34% to the stock’s current value. The extremes give us $9.5 and $13.5 for target low and target high price respectively. As such, NRZ is trading +44.85% off suggested target high and 1.93% from its likely low.
New Residential Investment Corp. (NRZ) estimates and forecasts
Looking at statistics comparing New Residential Investment Corp. share performance against respective industry, we note that the company has underperformed competitors. New Residential Investment Corp. (NRZ) shares are +23.14% up over the last 6 months, with its year-to-date growth rate lower than industry average at -32.72% against -17.6%. But the company is tempering its growth estimates for the 2020 fiscal year. Revenue is forecast to decline -47.5% this quarter before falling -29.2% for the next one. The company projects its revenue will grow 32% compared to the previous financial year.
Forecast revenue for the current quarter as set by 4 analysts is $234.73 Million. Meanwhile, for the quarter ending March 01, 2021, a total of 4 analyst(s) estimate revenue growth to $245.84 Million. Earnings reports from the last fiscal year show that sales brought in $216.08 Million for this quarter and $185.52 Million the next quarter. In this case, analysts estimate current quarter sales to rise 8.6% before jumping 32.5% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings fell an estimated -11.9% for the past 5-year period. While 2020 is set for a -52.1% return in earnings, projections for the next 5 years are at -5.96% annually.
New Residential Investment Corp. has its next earnings report out between February 04 and February 08, 2021. Despite the year witnessing an increase in the company’s overall debt, investors are exuding optimism of an improved dividend yield. New Residential Investment Corp. has a forward dividend ratio of 0.6, with the share yield ticking at 7.07% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 13.44%.
New Residential Investment Corp. (NYSE:NRZ)’s Major holders
New Residential Investment Corp. insiders hold 0.45% of total outstanding shares, with institutional holders owning 48.21% of the shares at 48.43% float percentage. In total, 421 institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29 this year, the company held over 35.45 Million shares (or 8.53% of shares), all amounting to roughly $281.85 Million.
The next major institution holding the largest number of shares is Blackrock Inc. with 24.8 Million shares, or about 5.97% of shares outstanding. As of the market price on 44103, these shares were worth $197.18 Million.
We also have Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund as the top two Mutual Funds with the largest holdings of the New Residential Investment Corp. (NRZ) shares. Going by data provided on 44011, Vanguard Total Stock Market Index Fund holds roughly 11,887,496 shares. This is just over 2.86% of the total shares, with a market valuation of $88.32 Million. Data from the same date shows that the other fund manager holds a little less at 10.4 Million, or 2.5% of the shares, all valued at about $77.25 Million.