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Rocket Companies (RKT) Stock Moves -1.84%: What You Should Know
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Rocket Companies (RKT - Free Report) closed at $12.81 in the latest trading session, marking a -1.84% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.12%. Elsewhere, the Dow lost 1.78%, while the tech-heavy Nasdaq added 0.48%.
Prior to today's trading, shares of the company had lost 1.58% over the past month. This has was narrower than the Business Services sector's loss of 3.8% and the S&P 500's loss of 3.91% in that time.
Investors will be hoping for strength from Rocket Companies as it approaches its next earnings release, which is expected to be February 24, 2022. On that day, Rocket Companies is projected to report earnings of $0.37 per share, which would represent a year-over-year decline of 67.54%. Our most recent consensus estimate is calling for quarterly revenue of $2.65 billion, down 43.61% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Rocket Companies. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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.
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 0.17% higher within the past month. Rocket Companies is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Rocket Companies has a Forward P/E ratio of 8.69 right now. For comparison, its industry has an average Forward P/E of 22.62, which means Rocket Companies is trading at a discount to the group.
Also, we should mention that RKT has a PEG ratio of 0.87. 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. RKT's industry had an average PEG ratio of 1.87 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 159, which puts it in the bottom 38% 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.
To follow RKT in the coming trading sessions, be sure to utilize Zacks.com.
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Rocket Companies (RKT) Stock Moves -1.84%: What You Should Know
Rocket Companies (RKT - Free Report) closed at $12.81 in the latest trading session, marking a -1.84% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.12%. Elsewhere, the Dow lost 1.78%, while the tech-heavy Nasdaq added 0.48%.
Prior to today's trading, shares of the company had lost 1.58% over the past month. This has was narrower than the Business Services sector's loss of 3.8% and the S&P 500's loss of 3.91% in that time.
Investors will be hoping for strength from Rocket Companies as it approaches its next earnings release, which is expected to be February 24, 2022. On that day, Rocket Companies is projected to report earnings of $0.37 per share, which would represent a year-over-year decline of 67.54%. Our most recent consensus estimate is calling for quarterly revenue of $2.65 billion, down 43.61% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Rocket Companies. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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.
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 0.17% higher within the past month. Rocket Companies is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Rocket Companies has a Forward P/E ratio of 8.69 right now. For comparison, its industry has an average Forward P/E of 22.62, which means Rocket Companies is trading at a discount to the group.
Also, we should mention that RKT has a PEG ratio of 0.87. 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. RKT's industry had an average PEG ratio of 1.87 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 159, which puts it in the bottom 38% 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.
To follow RKT in the coming trading sessions, be sure to utilize Zacks.com.