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Rocket Companies (RKT) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Rocket Companies (RKT - Free Report) closed at $12.38, marking a -1.98% move from the previous day. This change lagged the S&P 500's daily loss of 0.54%. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the company had lost 11.62% over the past month, outpacing the Business Services sector's loss of 26.13% and lagging the S&P 500's loss of 7.87% in that time.
Wall Street will be looking for positivity from Rocket Companies as it approaches its next earnings report date. The company is expected to report EPS of $0.37, down 67.54% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.65 billion, down 43.61% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Rocket Companies. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 3.81% lower within the past month. Rocket Companies is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Rocket Companies is holding a Forward P/E ratio of 8.35. For comparison, its industry has an average Forward P/E of 21.66, which means Rocket Companies is trading at a discount to the group.
Investors should also note that RKT has a PEG ratio of 0.84 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 1.43 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 33% 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.
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
In the latest trading session, Rocket Companies (RKT - Free Report) closed at $12.38, marking a -1.98% move from the previous day. This change lagged the S&P 500's daily loss of 0.54%. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the company had lost 11.62% over the past month, outpacing the Business Services sector's loss of 26.13% and lagging the S&P 500's loss of 7.87% in that time.
Wall Street will be looking for positivity from Rocket Companies as it approaches its next earnings report date. The company is expected to report EPS of $0.37, down 67.54% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.65 billion, down 43.61% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Rocket Companies. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 3.81% lower within the past month. Rocket Companies is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Rocket Companies is holding a Forward P/E ratio of 8.35. For comparison, its industry has an average Forward P/E of 21.66, which means Rocket Companies is trading at a discount to the group.
Investors should also note that RKT has a PEG ratio of 0.84 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 1.43 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.