Analyst Research Summary: New Residential Investment Corp. (NYSE:NRZ)
New Residential Investment Corp. (NYSE:NRZ) stock is presently standing at about $16.68 and lots of equity research firms seem to have a target price set on the stock. The median one-year price target of 10 analysts covering the company is $17.00, which suggests the stock could still rise over 2 percent. The highest analyst price target is $17.50, which implies a rally of 95 percent. And a quick view of analyst notes show that 4 are rating the stock a buy while 4 rate NRZ a strong buy. There are 2 equity research firms advocating a Hold and 0 consider it Sell.
Nomura analysts provided their view on New Residential Investment Corp. (NYSE:NRZ) recently. The rating firm issued a Neutral rating to this company in a research note released on Oct 26, 2016. Wedbush analysts disclosed their opinion on New Residential Investment Corp. (NYSE:NRZ) recently. The rating firm gave a Outperform rating to this stock in a research note published on Oct 06, 2016. According to a research note disclosed on May 18, 2016, analysts at Compass Point have lowered their rating on these shares from Buy to Neutral.
New Residential Investment Corp. (NYSE:NRZ) Transactions Roundup
Several insiders were part of recent insider activity for the stock. Its Chairman, CEO & President Nierenberg Michael Purchased 18,600 company shares for 279000, in a transaction on 2017-02-03. Following the transaction, the Chairman, CEO & President is left with a stake of 983,602 shares, currently valued at $16406481. Meanwhile, Director Sloves Andrew purchased 13,200 shares worth $187700, through a transaction dated 2016-11-11. Following the completion of the transaction, the insider is left with a stake of 11,700 shares, amounting $195156. NRZ CEO and President Nierenberg Michael also purchased 9,100 shares, at a stock price of $16.05. This transaction occurred on 2015-06-15 totals $146060. After this transaction, the insider’s stake stands at 772,596 shares, with a market value of $12886901.
Executives hold 1.05 percent of the stock. Mr. Wesley R. Edens is one of the biggest insider owners in New Residential Investment Corp. (NYSE:NRZ), according to U.S. Securities and Exchange Commission (SEC) filings. The insider owns 1,091,607 shares which have current market value of around $18208004.76.Michael Nierenberg is another major inside shareholder in the company. The insider owns 935,352 shares as of 0.3%, currently worth $15601671.36. Kenneth M. Riis is ranked as third insider holder of the stock. This insider holds 275,000 shares with a market value around $4587000 as of recent close.
New Residential Investment Corp. (NYSE:NRZ) Earnings Outlook
In New Residential Investment Corp. (NYSE:NRZ)’s latest quarter, EPS moved to $0.62 from $0.51 in preceding quarter and revenues reached at $231.81M compared to $185.90M. Analysts had expected New Residential Investment Corp. (NYSE:NRZ) to post net income of about $0.55 per share on $177.30M in revenue. Looking ahead, analysts on average predict that earnings for the current quarter would come in in the range of $0.49 to $0.59. That is compared with the $0.49 in EPS it reported during the same period a year ago.