New Residential Investment Corp. [NRZ] Stock trading around $10.39 per share: What’s Next?

New Residential Investment Corp. [NYSE: NRZ] stock went on a downward path that fall over -4.94% on Wednesday, amounting to a one-week price decrease of less than -5.72%. The company report on April 15, 2021 that New Residential Investment Corp. Announces Pricing of Public Offering of Common Stock.

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New Residential Investment Corp. (NYSE: NRZ; “New Residential” or the “Company”) announced that it priced its underwritten public offering of 45,000,000 shares of its common stock at a public offering price of $10.10 per share. The offering is expected to close on April 19, 2021, subject to customary closing conditions. In connection with the offering, the Company has granted the underwriters an option for a period of 30 days to purchase up to an additional 6,750,000 shares of common stock.

The Company intends to use the net proceeds from this offering to finance its previously announced acquisition of Caliber Home Loans, Inc. (“Caliber”) and to pay related fees and expenses, and any remaining proceeds for investments and general corporate purposes. In the event that the Caliber acquisition does not occur, the Company intends to use the net proceeds from this offering for general corporate purposes.

Over the last 12 months, NRZ stock rose by 99.42%. The one-year New Residential Investment Corp. stock forecast points to a potential upside of 12.02. The average equity rating for NRZ stock is currently 1.60, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.31 billion, with 415.06 million shares outstanding and 412.78 million shares in the current float. Compared to the average trading volume of 4.64M shares, NRZ stock reached a trading volume of 14876882 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $11.81 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.

RBC Capital Mkts have made an estimate for New Residential Investment Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 25, 2021. The new note on the price target was released on December 18, 2020, representing the official price target for New Residential Investment Corp. stock. Previously, the target price had yet another raise to $11, while Jefferies analysts kept a Buy rating on NRZ stock.

The Average True Range (ATR) for New Residential Investment Corp. is set at 0.28, with the Price to Sales ratio for NRZ stock in the period of the last 12 months amounting to 7.48. The Price to Book ratio for the last quarter was 0.96, with the Price to Cash per share for the same quarter was set at 2.28. Price to Free Cash Flow for NRZ in the course of the last twelve months was 2.83.

NRZ Stock Performance Analysis:

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 -5.72. With this latest performance, NRZ shares dropped by -6.65% in over the last four-week period, additionally plugging by 23.99% over the last 6 months – not to mention a rise of 99.42% 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 37.66, with the RSI for the last a single of trading hit 26.32, and the three-weeks RSI is set at 44.19 for New Residential Investment Corp. [NRZ]. The present Moving Average for the last 50 days of trading for this stock 10.55, while it was recorded at 10.87 for the last single week of trading, and 8.96 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 -38.69 and a Gross Margin at +79.19. New Residential Investment Corp.’s Net Margin is presently recorded at -96.34.

Return on Total Capital for NRZ is now -1.50, given the latest momentum, and Return on Invested Capital for the company is -7.50. Return on Equity for this stock declined to -22.60, with Return on Assets sitting at -3.61. 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 511.49. Additionally, NRZ Total Debt to Total Capital is recorded at 83.65, with Total Debt to Total Assets ending up at 81.79. Long-Term Debt to Equity for the company is recorded at 271.77, with the Long-Term Debt to Total Capital now at 37.65.

Reflecting on the efficiency of the workforce at the company, New Residential Investment Corp. [NRZ] managed to generate an average of -$248,872 per employee. Receivables Turnover for the company is 0.18 with a Total Asset Turnover recorded at a value of 0.04.

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 $2,128 million, or 48.70% 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 $299.29 million in NRZ stocks shares; and FMR LLC, currently with $160.46 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 May and at the time of the May reporting period, where 174 institutional holders increased their position in New Residential Investment Corp. [NYSE:NRZ] by around 23,960,753 shares. Additionally, 175 investors decreased positions by around 27,439,889 shares, while 53 investors held positions by with 143,267,485 shares. The mentioned changes placed institutional holdings at 194,668,127 shares, according to the latest SEC report filing. NRZ stock had 72 new institutional investments in for a total of 11,187,686 shares, while 45 institutional investors sold positions of 9,772,631 shares during the same period.

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