New Residential Investment Corp. [NYSE: NRZ] surged by $0.14 during the normal trading session on Thursday and reaching a high of $9.785 during the day while it closed the day at $9.64. The company report on November 20, 2020 that New Residential Announces NewRez’s Confidential Submission of Draft Registration Statement for Proposed Initial Public Offering.
New Residential Investment Corp. (NYSE: NRZ, “New Residential”) announced than an affiliate of NewRez LLC (“NewRez”), a national mortgage lending and servicing organization, has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of NewRez’s common stock. The number of shares of common stock to be sold and the price range for the proposed initial public offering have not yet been determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.
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New Residential Investment Corp. stock has also loss -0.72% of its value over the past 7 days. However, NRZ stock has inclined by 27.68% in the 3 months of the year. Over the past six months meanwhile, it has gained 14.22% and lost -40.16% year-on date.
The market cap for NRZ stock reached $4.03 billion, with 415.75 million shares outstanding and 413.86 million shares in the current float. Compared to the average trading volume of 4.76M shares, NRZ reached a trading volume of 4898493 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about New Residential Investment Corp. [NRZ]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NRZ shares is $11.02 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NRZ stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BTIG Research have made an estimate for New Residential Investment Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 24, 2020. The new note on the price target was released on November 06, 2020, representing the official price target for New Residential Investment Corp. stock. Previously, the target price had yet another raise to $11, while Compass Point analysts kept a Buy rating on NRZ stock.
The Average True Range (ATR) for New Residential Investment Corp. is set at 0.36, with the Price to Sales ratio for NRZ stock in the period of the last 12 months amounting to 4.99. The Price to Book ratio for the last quarter was 0.89, with the Price to Cash per share for the same quarter was set at 2.01. Price to Free Cash Flow for NRZ in the course of the last twelve months was 1.48.
NRZ stock trade performance evaluation
New Residential Investment Corp. [NRZ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.72. With this latest performance, NRZ shares gained by 20.50% in over the last four-week period, additionally plugging by 14.22% over the last 6 months – not to mention a drop of -38.91% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NRZ stock in for the last two-week period is set at 64.48, with the RSI for the last a single of trading hit 66.20, and the three-weeks RSI is set at 62.39 for New Residential Investment Corp. [NRZ]. The present Moving Average for the last 50 days of trading for this stock 8.40, while it was recorded at 9.49 for the last single week of trading, and 8.04 for the last 200 days.
New Residential Investment Corp. [NRZ]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and New Residential Investment Corp. [NRZ] shares currently have an operating margin of +23.76 and a Gross Margin at +85.06. New Residential Investment Corp.’s Net Margin is presently recorded at +19.54.
Return on Total Capital for NRZ is now 1.90, given the latest momentum, and Return on Invested Capital for the company is 3.59. Return on Equity for this stock inclined to 8.56, with Return on Assets sitting at 1.47. When it comes to the capital structure of this company, New Residential Investment Corp. [NRZ] has a Total Debt to Total Equity ratio set at 500.82. Additionally, NRZ Total Debt to Total Capital is recorded at 83.36, with Total Debt to Total Assets ending up at 79.73. Long-Term Debt to Equity for the company is recorded at 191.20, with the Long-Term Debt to Total Capital now at 29.94.
Reflecting on the efficiency of the workforce at the company, New Residential Investment Corp. [NRZ] managed to generate an average of $187,765,333 per employee. Receivables Turnover for the company is 0.28 with a Total Asset Turnover recorded at a value of 0.08.
Earnings per share (EPS) analysis for New Residential Investment Corp. [NRZ] stock
With the latest financial reports released by the company, New Residential Investment Corp. posted 0.61/share EPS, while the average EPS was predicted by analysts to be reported at 0.52/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 17.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NRZ. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for New Residential Investment Corp. go to -5.96%.
New Residential Investment Corp. [NRZ]: Insider Ownership positions
There are presently around $1,912 million, or 48.10% of NRZ stock, in the hands of institutional investors. The top three institutional holders of NRZ stocks are: VANGUARD GROUP INC with ownership of 35,453,139, which is approximately -5.364% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 24,802,021 shares of the stock with an approximate value of $239.09 million in NRZ stocks shares; and NAN SHAN LIFE INSURANCE CO., LTD., currently with $158.31 million in NRZ stock with ownership of nearly 14.689% of the company’s market capitalization.
Positions in New Residential Investment Corp. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 154 institutional holders increased their position in New Residential Investment Corp. [NYSE:NRZ] by around 24,814,475 shares. Additionally, 175 investors decreased positions by around 20,963,404 shares, while 65 investors held positions by with 152,539,197 shares. The mentioned changes placed institutional holdings at 198,317,076 shares, according to the latest SEC report filing. NRZ stock had 36 new institutional investments in for a total of 6,197,773 shares, while 54 institutional investors sold positions of 7,143,933 shares during the same period.