Tuesday, March 9, 2021

New Residential Investment Corp. [NRZ] Stock trading around $9.97 per share: What’s Next?

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New Residential Investment Corp. [NYSE: NRZ] price plunged by -1.09 percent to reach at -$0.11. The company report on February 16, 2021 that New Residential Investment Corp. Announces Authorization of Common Share Repurchase Program of Up to $200 Million.

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New Residential Investment Corp. (NYSE: NRZ, “New Residential”, the “Company”) announced that the Company’s Board of Directors (the “Board”) authorized a new share repurchase program of up to $200 million of the Company’s common shares through December 31, 2021.


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The new common share repurchase program replaces the Company’s previous $200 million common share repurchase program, which expired on December 31, 2020.

A sum of 6847742 shares traded at recent session while its average daily volume was at 4.50M shares. New Residential Investment Corp. shares reached a high of $10.09 and dropped to a low of $9.76 until finishing in the latest session at $9.97.

The one-year NRZ stock forecast points to a potential upside of 11.85. The average equity rating for NRZ stock is currently 1.60, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $11.31 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 1.60. 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.

Keefe Bruyette have made an estimate for New Residential Investment Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 18, 2020. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on December 14, 2020, representing the official price target for New Residential Investment Corp. stock.

The Average True Range (ATR) for New Residential Investment Corp. is set at 0.29, with the Price to Sales ratio for NRZ stock in the period of the last 12 months amounting to 6.83. The Price to Book ratio for the last quarter was 0.92, with the Price to Cash per share for the same quarter was set at 2.07. Price to Free Cash Flow for NRZ in the course of the last twelve months was 0.98.

NRZ Stock Performance Analysis:

New Residential Investment Corp. [NRZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.07. With this latest performance, NRZ shares gained by 6.06% in over the last four-week period, additionally plugging by 23.85% over the last 6 months – not to mention a drop of -43.32% 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 54.07, with the RSI for the last a single of trading hit 54.75, and the three-weeks RSI is set at 53.99 for New Residential Investment Corp. [NRZ]. The present Moving Average for the last 50 days of trading for this stock 9.72, while it was recorded at 9.84 for the last single week of trading, and 8.27 for the last 200 days.

Insight into New Residential Investment Corp. 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.

NRZ Stock EPS

With the latest financial reports released by the company, New Residential Investment Corp. posted 0.48/share EPS, while the average EPS was predicted by analysts to be reported at -0.17/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 382.40%. 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 -5.46%.

New Residential Investment Corp. [NRZ] Insider Position Details

There are presently around $1,896 million, or 50.20% of NRZ stock, in the hands of institutional investors. The top three institutional holders of NRZ stocks are: VANGUARD GROUP INC with ownership of 36,175,462, which is approximately 2.037% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 27,382,429 shares of the stock with an approximate value of $273.0 million in NRZ stocks shares; and FMR LLC, currently with $146.36 million in NRZ stock with ownership of nearly 0.907% of the company’s market capitalization.

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Positions in New Residential Investment Corp. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 175 institutional holders increased their position in New Residential Investment Corp. [NYSE:NRZ] by around 22,382,262 shares. Additionally, 177 investors decreased positions by around 26,968,371 shares, while 54 investors held positions by with 140,846,284 shares. The mentioned changes placed institutional holdings at 190,196,917 shares, according to the latest SEC report filing. NRZ stock had 72 new institutional investments in for a total of 11,088,885 shares, while 47 institutional investors sold positions of 9,671,615 shares during the same period.

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