Market Analysts see New Residential Investment Corp. [NRZ] gaining to $12. Time to buy?


New Residential Investment Corp. [NYSE: NRZ] traded at a high on 06/01/22, posting a 0.18 gain after which it closed the day’ session at $11.32. The company report on May 10, 2022 that Newrez Partners with One Tree Planted to Plant 10,000 Trees.

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In honor of Earth Day, Newrez LLC (“Newrez,” the “Company”), a national mortgage lending and servicing organization, recently concluded its second annual campaign to make a positive impact on the environment by planting 10,000 trees.

The Company’s weeklong campaign asked customers to make the more sustainable swap from paper to paperless statements, pledging to plant at least one tree for each customer who decided to opt for paperless billing.

The results of the trading session contributed to over 5019992 shares changing hands. Over the past one week, the price volatility of New Residential Investment Corp. stands at 2.03% while the volatility over the past one month is 3.04%.

The market cap for NRZ stock reached $5.21 billion, with 466.79 million shares outstanding and 464.55 million shares in the current float. Compared to the average trading volume of 5.62M shares, NRZ reached a trading volume of 5019992 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 $12.88 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 1.80. 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.

Piper Sandler have made an estimate for New Residential Investment Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 05, 2022. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on September 30, 2021, representing the official price target for New Residential Investment Corp. stock. Previously, the target price had yet another raise from $12 to $13, while Credit Suisse kept a Outperform rating on NRZ stock.

The Average True Range (ATR) for New Residential Investment Corp. is set at 0.34, with the Price to Sales ratio for NRZ stock in the period of the last 12 months amounting to 1.20. The Price to Book ratio for the last quarter was 0.90, with the Price to Cash per share for the same quarter was set at 3.63.

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 5.60. With this latest performance, NRZ shares gained by 8.43% in over the last four-week period, additionally plugging by 6.49% over the last 6 months – not to mention a rise of 5.50% 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 59.13, with the RSI for the last a single of trading hit 63.41, and the three-weeks RSI is set at 56.96 for New Residential Investment Corp. [NRZ]. The present Moving Average for the last 50 days of trading for this stock 10.77, while it was recorded at 11.17 for the last single week of trading, and 10.83 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 14.14%.

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

There are presently around $2,467 million, or 47.20% of NRZ stock, in the hands of institutional investors. The top three institutional holders of NRZ stocks are: VANGUARD GROUP INC with ownership of 42,301,286, which is approximately 0.765% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 25,357,497 shares of the stock with an approximate value of $286.54 million in NRZ stocks shares; and FMR LLC, currently with $171.82 million in NRZ stock with ownership of nearly 18.092% 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 207 institutional holders increased their position in New Residential Investment Corp. [NYSE:NRZ] by around 21,475,780 shares. Additionally, 170 investors decreased positions by around 16,471,163 shares, while 88 investors held positions by with 180,386,760 shares. The mentioned changes placed institutional holdings at 218,333,703 shares, according to the latest SEC report filing. NRZ stock had 52 new institutional investments in for a total of 9,679,507 shares, while 51 institutional investors sold positions of 4,589,590 shares during the same period.