Barclays slashes price target on New Residential Investment Corp. [NRZ] – find out why.



New Residential Investment Corp. [NYSE: NRZ] traded at a low on 04/19/22, posting a -2.42 loss after which it closed the day’ session at $10.49. The company report on April 18, 2022 that New Residential Investment Corp. Schedules First Quarter 2022 Earnings Release and Conference Call.

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New Residential Investment Corp. (NYSE:NRZ, “New Residential” or the “Company”) announced today that it will release its first quarter 2022 financial results for the period ended March 31, 2022 on Tuesday, May 3, 2022 prior to the opening of the New York Stock Exchange.

In addition, management will host a conference call on Tuesday, May 3, 2022 at 8:00 A.M. Eastern Time. A copy of the earnings release will be posted to the Investor Relations section of New Residential’s website,

The results of the trading session contributed to over 5183914 shares changing hands. Over the past one week, the price volatility of New Residential Investment Corp. stands at 2.24% while the volatility over the past one month is 2.24%.

The market cap for NRZ stock reached $4.84 billion, with 466.85 million shares outstanding and 464.50 million shares in the current float. Compared to the average trading volume of 5.64M shares, NRZ reached a trading volume of 5183914 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $12.75 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.

Barclays have made an estimate for New Residential Investment Corp. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 30, 2021. While these analysts kept the previous recommendation, Credit Suisse raised their target price from $12 to $13. The new note on the price target was released on August 30, 2021, representing the official price target for New Residential Investment Corp. stock. Previously, the target price had yet another raise to $12, while RBC Capital Mkts analysts kept a Outperform rating on NRZ stock.

The Average True Range (ATR) for New Residential Investment Corp. is set at 0.25, with the Price to Sales ratio for NRZ stock in the period of the last 12 months amounting to 1.37. 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 2.89. Price to Free Cash Flow for NRZ in the course of the last twelve months was 1.93.

How has NRZ stock performed recently?

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 1.65. With this latest performance, NRZ shares dropped by -2.15% in over the last four-week period, additionally sinking by -7.50% over the last 6 months – not to mention a rise of 2.64% 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 47.66, with the RSI for the last a single of trading hit 46.14, and the three-weeks RSI is set at 48.38 for New Residential Investment Corp. [NRZ]. The present Moving Average for the last 50 days of trading for this stock 10.53, while it was recorded at 10.56 for the last single week of trading, and 10.67 for the last 200 days.

New Residential Investment Corp. [NRZ]: Deeper insight into the 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 +48.85 and a Gross Margin at +88.17. New Residential Investment Corp.’s Net Margin is presently recorded at +26.66.

Return on Equity for this stock inclined to 12.95, with Return on Assets sitting at 2.11.

Earnings analysis for New Residential Investment Corp. [NRZ]

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 15.04%.

Insider trade positions for New Residential Investment Corp. [NRZ]

There are presently around $2,355 million, or 47.70% of NRZ stock, in the hands of institutional investors. The top three institutional holders of NRZ stocks are: VANGUARD GROUP INC with ownership of 41,980,007, which is approximately 0.627% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 27,648,485 shares of the stock with an approximate value of $297.22 million in NRZ stocks shares; and FMR LLC, currently with $138.42 million in NRZ stock with ownership of nearly -22.29% of the company’s market capitalization.

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 213 institutional holders increased their position in New Residential Investment Corp. [NYSE:NRZ] by around 22,041,275 shares. Additionally, 161 investors decreased positions by around 23,597,711 shares, while 72 investors held positions by with 173,386,799 shares. The mentioned changes placed institutional holdings at 219,025,785 shares, according to the latest SEC report filing. NRZ stock had 69 new institutional investments in for a total of 10,021,854 shares, while 35 institutional investors sold positions of 3,064,255 shares during the same period.