We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Rocket Companies (RKT) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
Rocket Companies (RKT - Free Report) closed at $17.27 in the latest trading session, marking a -0.35% move from the prior day. This change lagged the S&P 500's daily gain of 1.52%.
Heading into today, shares of the company had lost 9.83% over the past month, outpacing the Business Services sector's loss of 16.18% and lagging the S&P 500's gain of 2.41% in that time.
Investors will be hoping for strength from RKT as it approaches its next earnings release.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.03 per share and revenue of $11.94 billion, which would represent changes of -50.61% and -24.1%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for RKT. These revisions help to show the ever-changing nature of near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 7.29% lower within the past month. RKT is holding a Zacks Rank of #5 (Strong Sell) right now.
Investors should also note RKT's current valuation metrics, including its Forward P/E ratio of 8.55. Its industry sports an average Forward P/E of 30.73, so we one might conclude that RKT is trading at a discount comparatively.
Meanwhile, RKT's PEG ratio is currently 0.86. 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. Technology Services stocks are, on average, holding a PEG ratio of 2.58 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Rocket Companies (RKT) Stock Sinks As Market Gains: What You Should Know
Rocket Companies (RKT - Free Report) closed at $17.27 in the latest trading session, marking a -0.35% move from the prior day. This change lagged the S&P 500's daily gain of 1.52%.
Heading into today, shares of the company had lost 9.83% over the past month, outpacing the Business Services sector's loss of 16.18% and lagging the S&P 500's gain of 2.41% in that time.
Investors will be hoping for strength from RKT as it approaches its next earnings release.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.03 per share and revenue of $11.94 billion, which would represent changes of -50.61% and -24.1%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for RKT. These revisions help to show the ever-changing nature of near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 7.29% lower within the past month. RKT is holding a Zacks Rank of #5 (Strong Sell) right now.
Investors should also note RKT's current valuation metrics, including its Forward P/E ratio of 8.55. Its industry sports an average Forward P/E of 30.73, so we one might conclude that RKT is trading at a discount comparatively.
Meanwhile, RKT's PEG ratio is currently 0.86. 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. Technology Services stocks are, on average, holding a PEG ratio of 2.58 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.