Rocket Companies (RKT - Free Report) closed the most recent trading day at $10.25, moving -0.97% from the previous trading session. This change lagged the S&P 500's daily gain of 2.14%. At the same time, the Dow added 1.82%, and the tech-heavy Nasdaq lost 0.01%.
Coming into today, shares of the company had lost 15.72% in the past month. In that same time, the Business Services sector lost 10.46%, while the S&P 500 lost 5.01%.
Rocket Companies will be looking to display strength as it nears its next earnings release. In that report, analysts expect Rocket Companies to post earnings of $0.21 per share. This would mark a year-over-year decline of 76.4%. Our most recent consensus estimate is calling for quarterly revenue of $2.32 billion, down 49.37% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.15 per share and revenue of $9.58 billion, which would represent changes of -49.12% and -26.09%, respectively, from the prior year.
Any recent changes to analyst estimates for Rocket Companies should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 24.82% lower. Rocket Companies is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, Rocket Companies is holding a Forward P/E ratio of 9. This valuation marks a discount compared to its industry's average Forward P/E of 21.79.
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. Technology Services stocks are, on average, holding a PEG ratio of 2.2 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 178, 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.
To follow RKT in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Rocket Companies (RKT - Free Report) closed the most recent trading day at $10.25, moving -0.97% from the previous trading session. This change lagged the S&P 500's daily gain of 2.14%. At the same time, the Dow added 1.82%, and the tech-heavy Nasdaq lost 0.01%.
Coming into today, shares of the company had lost 15.72% in the past month. In that same time, the Business Services sector lost 10.46%, while the S&P 500 lost 5.01%.
Rocket Companies will be looking to display strength as it nears its next earnings release. In that report, analysts expect Rocket Companies to post earnings of $0.21 per share. This would mark a year-over-year decline of 76.4%. Our most recent consensus estimate is calling for quarterly revenue of $2.32 billion, down 49.37% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.15 per share and revenue of $9.58 billion, which would represent changes of -49.12% and -26.09%, respectively, from the prior year.
Any recent changes to analyst estimates for Rocket Companies should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 24.82% lower. Rocket Companies is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, Rocket Companies is holding a Forward P/E ratio of 9. This valuation marks a discount compared to its industry's average Forward P/E of 21.79.
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. Technology Services stocks are, on average, holding a PEG ratio of 2.2 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 178, 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.
To follow RKT in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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