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Rocket Companies (RKT) Stock Sinks As Market Gains: What You Should Know
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Rocket Companies (RKT - Free Report) closed the most recent trading day at $19.01, moving -1.76% from the previous trading session. This change lagged the S&P 500's daily gain of 0.52%.
Coming into today, shares of the company had lost 4.54% in the past month. In that same time, the Business Services sector gained 3.24%, while the S&P 500 gained 2.25%.
Wall Street will be looking for positivity from RKT as it approaches its next earnings report date.
RKT's full-year Zacks Consensus Estimates are calling for earnings of $2.14 per share and revenue of $12.85 billion. These results would represent year-over-year changes of -47.93% and -18.36%, respectively.
Investors might also notice recent changes to analyst estimates for RKT. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.15% lower. RKT is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, RKT is currently trading at a Forward P/E ratio of 9.05. This represents a discount compared to its industry's average Forward P/E of 33.18.
Also, we should mention that RKT has a PEG ratio of 0.9. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Technology Services was holding an average PEG ratio of 2.66 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 213, which puts it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Rocket Companies (RKT) Stock Sinks As Market Gains: What You Should Know
Rocket Companies (RKT - Free Report) closed the most recent trading day at $19.01, moving -1.76% from the previous trading session. This change lagged the S&P 500's daily gain of 0.52%.
Coming into today, shares of the company had lost 4.54% in the past month. In that same time, the Business Services sector gained 3.24%, while the S&P 500 gained 2.25%.
Wall Street will be looking for positivity from RKT as it approaches its next earnings report date.
RKT's full-year Zacks Consensus Estimates are calling for earnings of $2.14 per share and revenue of $12.85 billion. These results would represent year-over-year changes of -47.93% and -18.36%, respectively.
Investors might also notice recent changes to analyst estimates for RKT. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.15% lower. RKT is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, RKT is currently trading at a Forward P/E ratio of 9.05. This represents a discount compared to its industry's average Forward P/E of 33.18.
Also, we should mention that RKT has a PEG ratio of 0.9. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Technology Services was holding an average PEG ratio of 2.66 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 213, which puts it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.