Wall Street Analyst Downgrade New Residential Investment Corp. [NRZ]. What else is Wall St. saying


New Residential Investment Corp. [NYSE: NRZ] gained 1.12% or 0.11 points to close at $9.93 with a heavy trading volume of 7037815 shares. The company report on June 17, 2022 that New Residential Investment Corp. Announces Internalization and Rebrand to Rithm Capital, and Declares Second Quarter 2022 Dividends.

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New Residential Investment Corp. (NYSE: NRZ) (“NRZ” or the “Company”) announced today it has entered into agreements providing for the internalization of the Company’s management function.

In conjunction with the internalization, the Company announced plans to change its name and rebrand as Rithm Capital Corp. (NYSE: RITM) (“Rithm Capital”).

It opened the trading session at $9.86, the shares rose to $10.075 and dropped to $9.705, the range by which the price of stock traded the whole day. The daily chart for NRZ points out that the company has recorded -9.97% loss over the past six months. However, it is still -21.39% lower than its most recent low trading price.

If we look at the average trading volume of 6.73M shares, NRZ reached to a volume of 7037815 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $12.68 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 Underweight, with their previous recommendation back on June 13, 2022. The new note on the price target was released on May 05, 2022, representing the official price target for New Residential Investment Corp. stock. Previously, the target price had yet another raise to $13, while Barclays analysts kept a Overweight rating on NRZ stock. On August 30, 2021, analysts increased their price target for NRZ shares from 12 to 13.

The Average True Range (ATR) for New Residential Investment Corp. is set at 0.43, with the Price to Sales ratio for NRZ stock in the period of the last 12 months amounting to 1.02. The Price to Book ratio for the last quarter was 0.79, with the Price to Cash per share for the same quarter was set at 3.76.

Trading performance analysis for NRZ stock

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 14.80. With this latest performance, NRZ shares dropped by -8.48% in over the last four-week period, additionally sinking by -9.97% over the last 6 months – not to mention a drop of -7.63% 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 47.65, with the RSI for the last a single of trading hit 51.25, and the three-weeks RSI is set at 46.71 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 9.56 for the last single week of trading, and 10.79 for the last 200 days.

New Residential Investment Corp. [NRZ]: A deeper dive into fundamental analysis

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.

New Residential Investment Corp. [NRZ]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at New Residential Investment Corp. [NRZ]

There are presently around $2,156 million, or 47.30% 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 $249.01 million in NRZ stocks shares; and FMR LLC, currently with $149.32 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 22,728,748 shares. Additionally, 171 investors decreased positions by around 16,471,970 shares, while 88 investors held positions by with 180,392,371 shares. The mentioned changes placed institutional holdings at 219,593,089 shares, according to the latest SEC report filing. NRZ stock had 53 new institutional investments in for a total of 9,679,707 shares, while 51 institutional investors sold positions of 4,589,590 shares during the same period.