Trade Report: The New Residential Investment Corp. Forecasted to Post Q3 2016 Earnings of $0.48 Per Share (NRZ)

The New Residential Investment Corp. Forecasted to Post Q3 2016 Earnings of $0.48 Per Share (NRZ)

New Residential Investment Corp. (NYSE:NRZ) – Wedbush issued their Q3 2016 earnings per share estimates for shares of New Residential Investment Corp. in a research note issued to investors on Wednesday. Wedbush analyst J. Weaver expects that the brokerage will earn $0.48 per share for the quarter. Wedbush has a “Outperform” rating and a $17.00 price target on the stock. Wedbush also issued estimates for New Residential Investment Corp.’s Q4 2016 earnings at $0.50 EPS, FY2016 earnings at $1.99 EPS, Q1 2017 earnings at $0.51 EPS, Q2 2017 earnings at $0.51 EPS, Q3 2017 earnings at $0.51 EPS, Q4 2017 earnings at $0.50 EPS, FY2017 earnings at $2.02 EPS and FY2018 earnings at $1.97 EPS.

Several other brokerages also recently commented on NRZ. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $16.00 price objective on shares of New Residential Investment Corp. in a research report on Friday, September 9th. Barclays PLC raised their price objective on shares of New Residential Investment Corp. from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 10th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $17.00 price objective on shares of New Residential Investment Corp. in a research report on Sunday, September 11th. Zacks Investment Research raised shares of New Residential Investment Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. Finally, Vetr raised shares of New Residential Investment Corp. from a “buy” rating to a “strong-buy” rating and set a $15.40 price objective for the company in a research report on Monday, June 13th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $15.54.

Shares of New Residential Investment Corp. (NYSE:NRZ) opened at 13.65 on Monday. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 9.33 and a beta of 0.94. The firm’s 50-day moving average is $14.17 and its 200 day moving average is $13.31. New Residential Investment Corp. has a 52-week low of $9.07 and a 52-week high of $14.89.

New Residential Investment Corp. (NYSE:NRZ) last posted its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. New Residential Investment Corp. had a net margin of 38.31% and a return on equity of 15.25%. The firm had revenue of $137.43 million for the quarter, compared to analyst estimates of $161 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year.

A number of institutional investors have recently modified their holdings of NRZ. BlackRock Fund Advisors boosted its position in shares of New Residential Investment Corp. by 11.5% in the second quarter. BlackRock Fund Advisors now owns 10,828,640 shares of the real estate investment trust’s stock valued at $149,868,000 after buying an additional 1,120,812 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of New Residential Investment Corp. by 105.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,152,711 shares of the real estate investment trust’s stock valued at $25,036,000 after buying an additional 1,105,284 shares during the period. FMR LLC boosted its position in shares of New Residential Investment Corp. by 81.8% in the second quarter. FMR LLC now owns 2,138,650 shares of the real estate investment trust’s stock valued at $29,599,000 after buying an additional 962,200 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of New Residential Investment Corp. by 11.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 7,319,950 shares of the real estate investment trust’s stock valued at $101,308,000 after buying an additional 758,875 shares during the period. Finally, ING Groep NV boosted its position in shares of New Residential Investment Corp. by 15.7% in the first quarter. ING Groep NV now owns 4,050,000 shares of the real estate investment trust’s stock valued at $47,102,000 after buying an additional 550,000 shares during the period. Institutional investors and hedge funds own 53.36% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Monday, October 3rd will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 13.48%. The ex-dividend date is Thursday, September 29th. New Residential Investment Corp.’s dividend payout ratio (DPR) is presently 125.17%.

About New Residential Investment Corp.

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