New Residential Investment Corp. (NRZ)’s Head & Shoulders Points to Higher Stock Risks

April 23, 2018 - By Vivian Park

Investors sentiment decreased to 1.31 in Q4 2017. Its down 0.09, from 1.4 in 2017Q3. It fall, as 27 investors sold New Residential Investment Corp. shares while 68 reduced holdings. 36 funds opened positions while 88 raised stakes. 138.68 million shares or 3.46% less from 143.66 million shares in 2017Q3 were reported.
Robeco Institutional Asset Management Bv holds 19,328 shares. Penn Mutual Life reported 10.92% stake. Bnp Paribas Arbitrage stated it has 393,536 shares or 0.01% of all its holdings. Vanguard Group Inc has 0.02% invested in New Residential Investment Corp. (NYSE:NRZ). Moreover, West Family Invs has 0.09% invested in New Residential Investment Corp. (NYSE:NRZ). Fortress Investment Group Inc Limited Liability has invested 0.24% in New Residential Investment Corp. (NYSE:NRZ). Dekabank Deutsche Girozentrale holds 0% or 12,745 shares in its portfolio. First Manhattan holds 0% or 12,600 shares. Bb&T Securities Ltd Liability Corporation has invested 0.11% of its portfolio in New Residential Investment Corp. (NYSE:NRZ). Alpha Cubed Invests Ltd Co, a California-based fund reported 29,743 shares. Comml Bank Of Ny Mellon Corporation has invested 0.01% in New Residential Investment Corp. (NYSE:NRZ). Utah Retirement System holds 0.02% or 56,946 shares. Legal General Gp Public Limited reported 0% in New Residential Investment Corp. (NYSE:NRZ). Citigroup Inc holds 0.08% of its portfolio in New Residential Investment Corp. (NYSE:NRZ) for 5.45 million shares. Rhumbline Advisers, Massachusetts-based fund reported 283,872 shares.

The stock of New Residential Investment Corp. (NRZ) formed H&S with $15.56 target or 6.00 % below today’s $16.55 share price. The 8 months Head & Shoulders indicates high risk for the $5.56B company. It was reported on Apr, 23 by Faxor.com. If the $15.56 price target is reached, the company will be worth $333.78 million less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock increased 0.18% or $0.03 during the last trading session, reaching $16.55. About 1.84 million shares traded. New Residential Investment Corp. (NYSE:NRZ) has risen 0.90% since April 23, 2017 and is uptrending. It has underperformed by 10.65% the S&P500.

Analysts await New Residential Investment Corp. (NYSE:NRZ) to report earnings on May, 7. They expect $0.55 earnings per share, up 1.85 % or $0.01 from last year’s $0.54 per share. NRZ’s profit will be $184.87M for 7.52 P/E if the $0.55 EPS becomes a reality. After $0.61 actual earnings per share reported by New Residential Investment Corp. for the previous quarter, Wall Street now forecasts -9.84 % negative EPS growth.

New Residential Investment Corp. (NYSE:NRZ) Ratings Coverage

Among 4 analysts covering New Residential Inv (NYSE:NRZ), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. New Residential Inv has $19.25 highest and $18.0 lowest target. $18.92’s average target is 14.32% above currents $16.55 stock price. New Residential Inv had 6 analyst reports since October 24, 2017 according to SRatingsIntel. The rating was maintained by FBR Capital on Tuesday, February 13 with “Buy”. The firm earned “Buy” rating on Wednesday, November 29 by FBR Capital. Piper Jaffray maintained the stock with “Buy” rating in Thursday, October 26 report. The firm has “Overweight” rating by Barclays Capital given on Tuesday, October 24. The firm has “Outperform” rating by Wedbush given on Thursday, January 18. Piper Jaffray maintained the stock with “Buy” rating in Thursday, November 30 report.

New Residential Investment Corp. (NYSE:NRZ) Ratings Chart

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