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Ahead of Rocket Companies (RKT) Q1 Earnings: Get Ready With Wall Street Estimates for Key Metrics
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Wall Street analysts forecast that Rocket Companies (RKT - Free Report) will report quarterly earnings of $0.01 per share in its upcoming release, pointing to a year-over-year increase of 116.7%. It is anticipated that revenues will amount to $1.02 billion, exhibiting an increase of 53.1% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific Rocket Companies metrics that are commonly monitored and projected by Wall Street analysts.
According to the collective judgment of analysts, 'Revenue- Loan servicing income- Servicing fee income' should come in at $353.59 million. The estimate indicates a change of -3.5% from the prior-year quarter.
The consensus estimate for 'Revenue- Other income' stands at $234.38 million. The estimate points to a change of +22.9% from the year-ago quarter.
The consensus among analysts is that 'Revenue- Gain on sale of loans, net' will reach $594.33 million. The estimate indicates a change of +26.6% from the prior-year quarter.
The average prediction of analysts places 'Revenue- Interest income, net' at $35.05 million. The estimate indicates a change of -7% from the prior-year quarter.
Based on the collective assessment of analysts, 'Revenue- Gain on sale of loans- Gain on sale of loans excluding fair value of MSRs, net' should arrive at $293.19 million. The estimate suggests a change of +10.6% year over year.
Analysts forecast 'Revenue- Gain on sale of loans- Fair value of originated MSRs' to reach $313.99 million. The estimate indicates a change of +53.5% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenue- Interest income- Interest income' of $74.27 million. The estimate points to a change of +11.3% from the year-ago quarter.
Over the past month, Rocket Companies shares have recorded returns of -15.1% versus the Zacks S&P 500 composite's -2% change. Based on its Zacks Rank #3 (Hold), RKT will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Ahead of Rocket Companies (RKT) Q1 Earnings: Get Ready With Wall Street Estimates for Key Metrics
Wall Street analysts forecast that Rocket Companies (RKT - Free Report) will report quarterly earnings of $0.01 per share in its upcoming release, pointing to a year-over-year increase of 116.7%. It is anticipated that revenues will amount to $1.02 billion, exhibiting an increase of 53.1% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 5% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific Rocket Companies metrics that are commonly monitored and projected by Wall Street analysts.
According to the collective judgment of analysts, 'Revenue- Loan servicing income- Servicing fee income' should come in at $353.59 million. The estimate indicates a change of -3.5% from the prior-year quarter.
The consensus estimate for 'Revenue- Other income' stands at $234.38 million. The estimate points to a change of +22.9% from the year-ago quarter.
The consensus among analysts is that 'Revenue- Gain on sale of loans, net' will reach $594.33 million. The estimate indicates a change of +26.6% from the prior-year quarter.
The average prediction of analysts places 'Revenue- Interest income, net' at $35.05 million. The estimate indicates a change of -7% from the prior-year quarter.
Based on the collective assessment of analysts, 'Revenue- Gain on sale of loans- Gain on sale of loans excluding fair value of MSRs, net' should arrive at $293.19 million. The estimate suggests a change of +10.6% year over year.
Analysts forecast 'Revenue- Gain on sale of loans- Fair value of originated MSRs' to reach $313.99 million. The estimate indicates a change of +53.5% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenue- Interest income- Interest income' of $74.27 million. The estimate points to a change of +11.3% from the year-ago quarter.
View all Key Company Metrics for Rocket Companies here>>>
Over the past month, Rocket Companies shares have recorded returns of -15.1% versus the Zacks S&P 500 composite's -2% change. Based on its Zacks Rank #3 (Hold), RKT will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>