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Rocket Companies (RKT) Outpaces Stock Market Gains: What You Should Know
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Rocket Companies (RKT - Free Report) closed at $11.92 in the latest trading session, marking a +0.76% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.52%. At the same time, the Dow lost 0.06%, and the tech-heavy Nasdaq gained 0.37%.
Coming into today, shares of the company had lost 15.56% in the past month. In that same time, the Business Services sector lost 9.97%, while the S&P 500 lost 6.51%.
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. 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. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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).
Valuation is also important, so investors should note that Rocket Companies has a Forward P/E ratio of 7.88 right now. This represents a discount compared to its industry's average Forward P/E of 22.68.
Investors should also note that RKT has a PEG ratio of 0.79 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. The Technology Services industry currently had an average PEG ratio of 1.66 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Rocket Companies (RKT) Outpaces Stock Market Gains: What You Should Know
Rocket Companies (RKT - Free Report) closed at $11.92 in the latest trading session, marking a +0.76% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.52%. At the same time, the Dow lost 0.06%, and the tech-heavy Nasdaq gained 0.37%.
Coming into today, shares of the company had lost 15.56% in the past month. In that same time, the Business Services sector lost 9.97%, while the S&P 500 lost 6.51%.
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. 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. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating 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).
Valuation is also important, so investors should note that Rocket Companies has a Forward P/E ratio of 7.88 right now. This represents a discount compared to its industry's average Forward P/E of 22.68.
Investors should also note that RKT has a PEG ratio of 0.79 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. The Technology Services industry currently had an average PEG ratio of 1.66 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.