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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 $11.14, marking a -0.8% move from the previous day. This move lagged the S&P 500's daily loss of 0.63%. Elsewhere, the Dow lost 0.19%, while the tech-heavy Nasdaq lost 0.34%.
Prior to today's trading, shares of the company had lost 16.07% over the past month. This has lagged the Business Services sector's gain of 5.67% and the S&P 500's gain of 6.02% in that time.
Rocket Companies will be looking to display strength as it nears its next earnings release. In that report, analysts expect Rocket Companies to post earnings of $0.21 per share. This would mark a year-over-year decline of 76.4%. Our most recent consensus estimate is calling for quarterly revenue of $2.31 billion, down 49.6% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.15 per share and revenue of $9.58 billion, which would represent changes of -49.12% and -26.09%, respectively, from the prior year.
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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Rocket Companies currently has a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Rocket Companies is currently trading at a Forward P/E ratio of 9.77. This represents a discount compared to its industry's average Forward P/E of 23.02.
Meanwhile, RKT's PEG ratio is currently 0.98. 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 2.26 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 32% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Rocket Companies (RKT - Free Report) closed at $11.14, marking a -0.8% move from the previous day. This move lagged the S&P 500's daily loss of 0.63%. Elsewhere, the Dow lost 0.19%, while the tech-heavy Nasdaq lost 0.34%.
Prior to today's trading, shares of the company had lost 16.07% over the past month. This has lagged the Business Services sector's gain of 5.67% and the S&P 500's gain of 6.02% in that time.
Rocket Companies will be looking to display strength as it nears its next earnings release. In that report, analysts expect Rocket Companies to post earnings of $0.21 per share. This would mark a year-over-year decline of 76.4%. Our most recent consensus estimate is calling for quarterly revenue of $2.31 billion, down 49.6% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.15 per share and revenue of $9.58 billion, which would represent changes of -49.12% and -26.09%, respectively, from the prior year.
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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Rocket Companies currently has a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Rocket Companies is currently trading at a Forward P/E ratio of 9.77. This represents a discount compared to its industry's average Forward P/E of 23.02.
Meanwhile, RKT's PEG ratio is currently 0.98. 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 2.26 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 32% 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.