Q3 2017 EPS Estimates for New Residential Investment Corp. (NRZ) Boosted by Wedbush

New Residential Investment Corp. (NYSE:NRZ) – Equities research analysts at Wedbush boosted their Q3 2017 earnings per share (EPS) estimates for shares of New Residential Investment Corp. in a note issued to investors on Wednesday. Wedbush analyst J. Weaver now expects that the real estate investment trust will earn $0.55 per share for the quarter, up from their previous forecast of $0.51. Wedbush has a “Neutral” rating and a $16.50 price objective on the stock. Wedbush also issued estimates for New Residential Investment Corp.’s FY2017 earnings at $2.50 EPS, Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.54 EPS, Q3 2018 earnings at $0.53 EPS, Q4 2018 earnings at $0.52 EPS and FY2018 earnings at $2.15 EPS.

New Residential Investment Corp. (NYSE:NRZ) last posted its earnings results on Monday, July 31st. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.48. New Residential Investment Corp. had a net margin of 55.85% and a return on equity of 19.02%. The firm had revenue of $356.80 million during the quarter, compared to analysts’ expectations of $202.40 million. During the same period in the previous year, the business posted $0.52 EPS.

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A number of other brokerages also recently weighed in on NRZ. ValuEngine upgraded New Residential Investment Corp. from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 1st. Vetr downgraded New Residential Investment Corp. from a “hold” rating to a “sell” rating and set a $16.55 price target for the company. in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $18.00 price target on shares of New Residential Investment Corp. in a report on Thursday, August 3rd. BidaskClub upgraded New Residential Investment Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $18.00 price target on shares of New Residential Investment Corp. in a report on Sunday, August 27th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $16.89.

New Residential Investment Corp. (NRZ) opened at 16.43 on Friday. The firm has a market capitalization of $5.05 billion, a PE ratio of 5.83 and a beta of 1.02. The company has a 50 day moving average of $16.59 and a 200 day moving average of $16.50. New Residential Investment Corp. has a 1-year low of $13.30 and a 1-year high of $17.86.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in New Residential Investment Corp. by 39,965.7% during the 1st quarter. BlackRock Inc. now owns 26,571,141 shares of the real estate investment trust’s stock worth $451,177,000 after buying an additional 26,504,822 shares during the last quarter. Vanguard Group Inc. grew its stake in New Residential Investment Corp. by 28.9% during the 1st quarter. Vanguard Group Inc. now owns 24,818,674 shares of the real estate investment trust’s stock worth $421,421,000 after buying an additional 5,571,198 shares during the last quarter. State Street Corp grew its stake in New Residential Investment Corp. by 25.3% during the 1st quarter. State Street Corp now owns 5,913,353 shares of the real estate investment trust’s stock worth $100,410,000 after buying an additional 1,192,731 shares during the last quarter. Bank of America Corp DE grew its stake in New Residential Investment Corp. by 9.3% during the 1st quarter. Bank of America Corp DE now owns 5,291,446 shares of the real estate investment trust’s stock worth $89,849,000 after buying an additional 451,323 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in New Residential Investment Corp. during the 1st quarter worth $59,515,000. Hedge funds and other institutional investors own 47.81% of the company’s stock.

About New Residential Investment Corp.

New Residential Investment Corp. is a real estate investment trust (REIT). The Company focuses on investing in, and managing, investments related to residential real estate. The Company’s segments include investments in excess mortgage servicing rights (Excess MSRs); investments in mortgage servicing rights (MSRs); investments in servicer advances; investments in real estate securities; investments in residential mortgage loans; investments in consumer loans, and corporate.

Earnings History and Estimates for New Residential Investment Corp. (NYSE:NRZ)

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