NRZ is currently sporting a Zacks Rank of #1 (Strong Buy), as well as a Value grade of A. The stock is trading with P/E ratio of 4.77 right now. For comparison, its industry sports an average P/E of 10.07. NRZ's Forward P/E has been as high as 8.52 and as low as 4.77, with a median of 7.27, all within the past year.
Likewise, why did NRZ drop today?
New Residential (NRZ) is expected to have witnessed a decline in book value and significant loss on disposal in Q1 due to coronavirus-induced dislocations and volatility in the mortgage industry.
Did NRZ cut dividend?
Out of caution, NRZ cut its common stock dividend by 95% at the start of the crisis. And even some great long-term dividend stocks may not be able to return to their former dividend payment levels.
What is NRZ company?
(NYSE: NRZ) is a leading provider of capital and services to the mortgage and financial services industries. Our investment portfolio includes mortgage servicing-related assets, non-agency securities (and associated call rights), residential loans and other related opportunistic investments.
Is NRZ undervalued?
Value investors will likely look at more than just these metrics, but the above data helps show that New Residential Investment is likely undervalued currently. And when considering the strength of its earnings outlook, NRZ sticks out at as one of the market's strongest value stocks.