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Rocket Companies (RKT) Stock Moves -0.1%: What You Should Know
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Rocket Companies (RKT - Free Report) closed at $19.17 in the latest trading session, marking a -0.1% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.86%.
Prior to today's trading, shares of the company had lost 11.69% over the past month. This has was narrower than the Business Services sector's loss of 12.84% and lagged the S&P 500's gain of 3.22% in that time.
RKT will be looking to display strength as it nears its next earnings release.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.14 per share and revenue of $12.85 billion, which would represent changes of -47.93% and -18.36%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for RKT. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 8.15% lower within the past month. RKT currently has a Zacks Rank of #5 (Strong Sell).
Digging into valuation, RKT currently has a Forward P/E ratio of 8.97. Its industry sports an average Forward P/E of 32.89, so we one might conclude that RKT is trading at a discount comparatively.
It is also worth noting that RKT currently has a PEG ratio of 0.9. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Technology Services stocks are, on average, holding a PEG ratio of 2.77 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 219, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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Rocket Companies (RKT) Stock Moves -0.1%: What You Should Know
Rocket Companies (RKT - Free Report) closed at $19.17 in the latest trading session, marking a -0.1% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.86%.
Prior to today's trading, shares of the company had lost 11.69% over the past month. This has was narrower than the Business Services sector's loss of 12.84% and lagged the S&P 500's gain of 3.22% in that time.
RKT will be looking to display strength as it nears its next earnings release.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.14 per share and revenue of $12.85 billion, which would represent changes of -47.93% and -18.36%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for RKT. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 8.15% lower within the past month. RKT currently has a Zacks Rank of #5 (Strong Sell).
Digging into valuation, RKT currently has a Forward P/E ratio of 8.97. Its industry sports an average Forward P/E of 32.89, so we one might conclude that RKT is trading at a discount comparatively.
It is also worth noting that RKT currently has a PEG ratio of 0.9. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Technology Services stocks are, on average, holding a PEG ratio of 2.77 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 219, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.