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Rocket Companies (RKT) Stock Sinks As Market Gains: What You Should Know
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Rocket Companies (RKT - Free Report) closed at $12.37 in the latest trading session, marking a -0.08% move from the prior day. This move lagged the S&P 500's daily gain of 2.44%. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 0.28%.
Coming into today, shares of the company had lost 15.73% in the past month. In that same time, the Business Services sector lost 27.42%, while the S&P 500 lost 9.65%.
Investors will be hoping for strength from Rocket Companies as it approaches its next earnings release. The company is expected to report EPS of $0.37, down 67.54% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.65 billion, down 43.61% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Rocket Companies. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.81% lower. Rocket Companies currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Rocket Companies is currently trading at a Forward P/E ratio of 8.19. This represents a discount compared to its industry's average Forward P/E of 21.71.
Meanwhile, RKT's PEG ratio is currently 0.82. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Technology Services industry currently had an average PEG ratio of 1.42 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 170, 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Rocket Companies (RKT) Stock Sinks As Market Gains: What You Should Know
Rocket Companies (RKT - Free Report) closed at $12.37 in the latest trading session, marking a -0.08% move from the prior day. This move lagged the S&P 500's daily gain of 2.44%. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 0.28%.
Coming into today, shares of the company had lost 15.73% in the past month. In that same time, the Business Services sector lost 27.42%, while the S&P 500 lost 9.65%.
Investors will be hoping for strength from Rocket Companies as it approaches its next earnings release. The company is expected to report EPS of $0.37, down 67.54% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.65 billion, down 43.61% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Rocket Companies. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.81% lower. Rocket Companies currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Rocket Companies is currently trading at a Forward P/E ratio of 8.19. This represents a discount compared to its industry's average Forward P/E of 21.71.
Meanwhile, RKT's PEG ratio is currently 0.82. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Technology Services industry currently had an average PEG ratio of 1.42 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 170, 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.