New Residential Investment Corp. [NRZ] is -0.84% lower this YTD. Is it still time to buy?


New Residential Investment Corp. [NYSE: NRZ] jumped around 0.37 points on Wednesday, while shares priced at $10.62 at the close of the session, up 3.61%. The company report on July 19, 2022 that New Residential Investment Corp. Schedules Second 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 second quarter 2022 financial results for the period ended June 30, 2022 on Tuesday, August 2, 2022 prior to the opening of the New York Stock Exchange. In addition, management will host a conference call on Tuesday, August 2, 2022 at 8:00 A.M. Eastern Time.

As previously announced, the Company’s name change to Rithm Capital Corp. (NYSE:RITM, “Rithm Capital” or “Rithm”) will take effect on August 1, 2022. The Company’s common stock will begin trading on the NYSE under the ticker symbol ‘RITM’ on August 2, 2022. This will replace the Company’s current ticker symbol NYSE: NRZ.

New Residential Investment Corp. stock is now -0.84% down from its year-to-date (YTD) trading value. NRZ Stock saw the intraday high of $10.64 and lowest of $10.265 per share. The company’s 52-week high price is 11.81, which means current price is +29.83% above from all time high which was touched on 05/04/22.

Compared to the average trading volume of 6.55M shares, NRZ reached a trading volume of 5004219 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 $12.35 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 0.32, with the Price to Sales ratio for NRZ stock in the period of the last 12 months amounting to 1.14. The Price to Book ratio for the last quarter was 0.85, with the Price to Cash per share for the same quarter was set at 3.59.

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 5.57. With this latest performance, NRZ shares gained by 6.95% in over the last four-week period, additionally plugging by 0.85% over the last 6 months – not to mention a rise of 12.50% 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 64.41, with the RSI for the last a single of trading hit 74.35, and the three-weeks RSI is set at 58.52 for New Residential Investment Corp. [NRZ]. The present Moving Average for the last 50 days of trading for this stock 10.16, while it was recorded at 10.31 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 14.14%.

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

There are presently around $2,277 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 $269.3 million in NRZ stocks shares; and FMR LLC, currently with $161.48 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 August and at the time of the August reporting period, where 199 institutional holders increased their position in New Residential Investment Corp. [NYSE:NRZ] by around 19,386,277 shares. Additionally, 172 investors decreased positions by around 19,766,948 shares, while 89 investors held positions by with 175,292,608 shares. The mentioned changes placed institutional holdings at 214,445,833 shares, according to the latest SEC report filing. NRZ stock had 51 new institutional investments in for a total of 8,029,723 shares, while 51 institutional investors sold positions of 8,265,879 shares during the same period.