New Residential Investment Corp. (NYSE:NRZ) is now worth $6.25B thanks to -0.29% drop in recent trade and currently has a price tag of $17.02. The shares traded as low as $16.68 and had $17.04 an intraday high earlier Thursday. Trading activity significantly improved as the volume at ready counter increased to 6,236,150 shares versus 4,369,400 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 3,226,447 shares. The stock is now 11.68% above against its bear-market low of $15.24 on February 05, 2018. It has retreated -10.16% since it’s 52-week high of $18.75 reached in September. Now the market price is down -4.54% on the year and down -4.81% YTD.
NRZ’s 50 day simple moving average (SMA 50) price is $17.5 and its 200-day simple moving average (SMA 200) price is $17.64. The company’s stock currently has a total float of 363.91M shares. Its weekly volatility is hovering around 1.79% and felt 1.48% volatility in price over a month. On the upside, the share price will test short term resistance at around $17.15. On a downside, the stock is likely to find some support, which begins at $16.79. The failure to get near-term support could push it to $16.55.
Separately, it has been reported that multiple insider activity took place at New Residential Investment Corp. (NRZ). CEO and President Nierenberg Michael sold 339,177 shares for $983,602 in transaction occurred on 2018/06/26. After making this transaction, the CEO and President owns a direct stake of 6,206,939 shares, worth $16,740,906, as per the last closing price. On 2017/02/03 Nierenberg Michael, Chairman, CEO & President at NRZ, purchased 18,600 shares at an average price of $15 per share. The new stake is valued at $16,740,906.
Director, Sloves Andrew had invested in 13,200 shares for $11,700 through a trade on 2016/11/11. Following this activity, the insider holds 187,704 shares worth $199,134 as of recent close. Wall Street’s most bullish New Residential Investment Corp. (NYSE:NRZ) analysts are predicting the share price to blow past $21 per share during the next 12 months. The current median share price forecast by them is $19.25, suggesting that the stock could increase 13.1% in that time frame. The average price target of $19.54 calls for a nearly 14.81% increase in the stock price.
It had seen a new analyst call from Raymond James, which initiated the stock at Outperform on October 05. Analysts at Wedbush, shed their negative views on January 18 by lifting it fromNeutral to Outperform. Brokerage firm Barclays, looks cautious as they stick to prior recommendation of Overweight, in a call on October 24. However, they did change the target price from $16 to $19. Wedbush analysts came out with bearish views on June 20 when the call was made. They think the stock is now Neutral compared to to their prior call for Outperform.
When looking at valuations, New Residential Investment Corp. (NRZ) has a cheap P/E of 4.52x as compared to industry average of 47.22x. Moreover, it trades for 7.31 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.01x price/book and 2.54x price/sales. Compared to others, New Residential Investment Corp. is in a different league with regards to profitability, having net margins of 50.9%. To put some perspective around this, the industry’s average net margin is 35.6%. NRZ’s ROE is 23%, which is also considerably better than the industry’s ROE of 14.32%.
Shares of New Residential Investment Corp. (NRZ) have dropped -3.3% since the company’s last earnings report. Over the past 12 fiscal quarters, New Residential Investment Corp. (NYSE:NRZ) has topped consensus earnings estimates in 10 quarters (83%), missed earnings in 2 quarters (16%), whereas at 0 occasion EPS met analyst expectations. NRZ last reported earnings on October 25, 2018 when it released Sep-18 results that exceeded expectations. The company raked in $0.63 per share, -95.71% change on the same period last year. That was better than consensus for $0.55. Revenue for the recent quarter stood at $262.72 million, down -4% on last year and above the $189.55 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $184.5 million to $255.6 million, which should be compared with $216.72 million generated last year. EPS is seen in a range of $0.54 to $0.59, against the $0.52 reported a year ago.