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Rocket Companies (RKT) Dips More Than Broader Markets: What You Should Know
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Rocket Companies (RKT - Free Report) closed the most recent trading day at $17.25, moving -0.75% from the previous trading session. This change lagged the S&P 500's daily loss of 0.47%.
Heading into today, shares of the company had lost 13.19% over the past month, outpacing the Business Services sector's loss of 16.09% and lagging the S&P 500's gain of 3.38% in that time.
Wall Street will be looking for positivity from RKT as it approaches its next earnings report date.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2 per share and revenue of $11.81 billion, which would represent changes of -51.34% and -24.97%, 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 9.67% lower. RKT currently has a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that RKT has a Forward P/E ratio of 8.68 right now. This valuation marks a discount compared to its industry's average Forward P/E of 31.28.
Investors should also note that RKT has a PEG ratio of 0.87 right now. 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. RKT's industry had an average PEG ratio of 2.52 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Rocket Companies (RKT) Dips More Than Broader Markets: What You Should Know
Rocket Companies (RKT - Free Report) closed the most recent trading day at $17.25, moving -0.75% from the previous trading session. This change lagged the S&P 500's daily loss of 0.47%.
Heading into today, shares of the company had lost 13.19% over the past month, outpacing the Business Services sector's loss of 16.09% and lagging the S&P 500's gain of 3.38% in that time.
Wall Street will be looking for positivity from RKT as it approaches its next earnings report date.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2 per share and revenue of $11.81 billion, which would represent changes of -51.34% and -24.97%, 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 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. Over the past month, the Zacks Consensus EPS estimate has moved 9.67% lower. RKT currently has a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that RKT has a Forward P/E ratio of 8.68 right now. This valuation marks a discount compared to its industry's average Forward P/E of 31.28.
Investors should also note that RKT has a PEG ratio of 0.87 right now. 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. RKT's industry had an average PEG ratio of 2.52 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.