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Has New Residential Investment (NRZ) Outpaced Other Finance Stocks This Year?

Zacks Equity Research
Updated
Is (TDS) Outperforming Other Utilities Stocks This Year?

Investors focused on the Finance space have likely heard of New Residential Investment (NRZ), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.

New Residential Investment is one of 828 companies in the Finance group. The Finance group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. NRZ is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for NRZ's full-year earnings has moved 0.34% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Based on the latest available data, NRZ has gained about 0.78% so far this year. Meanwhile, the Finance sector has returned an average of -4.20% on a year-to-date basis. As we can see, New Residential Investment is performing better than its sector in the calendar year.

Breaking things down more, NRZ is a member of the REIT and Equity Trust industry, which includes 31 individual companies and currently sits at #57 in the Zacks Industry Rank. On average, this group has gained an average of 3.98% so far this year, meaning that NRZ is slightly underperforming its industry in terms of year-to-date returns.

NRZ will likely be looking to continue its solid performance, so investors interested Finance stocks should continue to pay close attention to the company.


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