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Rocket Companies (RKT) Gains But Lags Market: What You Should Know
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In the latest trading session, Rocket Companies (RKT - Free Report) closed at $10.41, marking a +1.56% move from the previous day. This move lagged the S&P 500's daily gain of 2.24%. Elsewhere, the Dow gained 1.55%, while the tech-heavy Nasdaq added 0.5%.
Heading into today, shares of the company had lost 19.1% over the past month, lagging the Business Services sector's loss of 9.89% and the S&P 500's loss of 4.46% in that time.
Wall Street will be looking for positivity from Rocket Companies as it approaches its next earnings report date. On that day, Rocket Companies is projected to report earnings of $0.21 per share, which would represent a year-over-year decline of 76.4%. Our most recent consensus estimate is calling for quarterly revenue of $2.32 billion, down 49.37% from the year-ago period.
RKT's full-year Zacks Consensus Estimates are calling for earnings of $1.15 per share and revenue of $9.58 billion. These results would represent year-over-year changes of -49.12% and -26.09%, respectively.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 24.82% lower. Rocket Companies is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, Rocket Companies is holding a Forward P/E ratio of 8.91. For comparison, its industry has an average Forward P/E of 21.61, which means Rocket Companies is trading at a discount to the group.
It is also worth noting that RKT currently has a PEG ratio of 0.89. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Technology Services was holding an average PEG ratio of 2.31 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Gains But Lags Market: What You Should Know
In the latest trading session, Rocket Companies (RKT - Free Report) closed at $10.41, marking a +1.56% move from the previous day. This move lagged the S&P 500's daily gain of 2.24%. Elsewhere, the Dow gained 1.55%, while the tech-heavy Nasdaq added 0.5%.
Heading into today, shares of the company had lost 19.1% over the past month, lagging the Business Services sector's loss of 9.89% and the S&P 500's loss of 4.46% in that time.
Wall Street will be looking for positivity from Rocket Companies as it approaches its next earnings report date. On that day, Rocket Companies is projected to report earnings of $0.21 per share, which would represent a year-over-year decline of 76.4%. Our most recent consensus estimate is calling for quarterly revenue of $2.32 billion, down 49.37% from the year-ago period.
RKT's full-year Zacks Consensus Estimates are calling for earnings of $1.15 per share and revenue of $9.58 billion. These results would represent year-over-year changes of -49.12% and -26.09%, respectively.
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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 24.82% lower. Rocket Companies is currently a Zacks Rank #5 (Strong Sell).
Looking at its valuation, Rocket Companies is holding a Forward P/E ratio of 8.91. For comparison, its industry has an average Forward P/E of 21.61, which means Rocket Companies is trading at a discount to the group.
It is also worth noting that RKT currently has a PEG ratio of 0.89. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Technology Services was holding an average PEG ratio of 2.31 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.