We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Rocket Companies (RKT) Gains As Market Dips: What You Should Know
Read MoreHide Full Article
In the latest trading session, Rocket Companies (RKT - Free Report) closed at $9.29, marking a +0.43% move from the previous day. This change outpaced the S&P 500's 0.06% loss on the day. Elsewhere, the Dow gained 0.72%, while the tech-heavy Nasdaq added 0.39%.
Prior to today's trading, shares of the company had lost 13.95% over the past month. This has lagged the Business Services sector's loss of 2.12% and the S&P 500's gain of 0.17% 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 $0.19 per share. This would mark a year-over-year decline of 78.65%. Our most recent consensus estimate is calling for quarterly revenue of $2.37 billion, down 48.38% from the year-ago period.
RKT's full-year Zacks Consensus Estimates are calling for earnings of $1.10 per share and revenue of $9.44 billion. These results would represent year-over-year changes of -51.33% and -27.19%, respectively.
Any recent changes to analyst estimates for Rocket Companies should also be noted by investors. 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. 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.
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. Within the past 30 days, our consensus EPS projection has moved 5.86% lower. Rocket Companies is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Rocket Companies is currently trading at a Forward P/E ratio of 8.43. This represents a discount compared to its industry's average Forward P/E of 21.12.
Investors should also note that RKT has a PEG ratio of 0.84 right now. 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 was holding an average PEG ratio of 2.25 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Rocket Companies (RKT) Gains As Market Dips: What You Should Know
In the latest trading session, Rocket Companies (RKT - Free Report) closed at $9.29, marking a +0.43% move from the previous day. This change outpaced the S&P 500's 0.06% loss on the day. Elsewhere, the Dow gained 0.72%, while the tech-heavy Nasdaq added 0.39%.
Prior to today's trading, shares of the company had lost 13.95% over the past month. This has lagged the Business Services sector's loss of 2.12% and the S&P 500's gain of 0.17% 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 $0.19 per share. This would mark a year-over-year decline of 78.65%. Our most recent consensus estimate is calling for quarterly revenue of $2.37 billion, down 48.38% from the year-ago period.
RKT's full-year Zacks Consensus Estimates are calling for earnings of $1.10 per share and revenue of $9.44 billion. These results would represent year-over-year changes of -51.33% and -27.19%, respectively.
Any recent changes to analyst estimates for Rocket Companies should also be noted by investors. 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. 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.
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. Within the past 30 days, our consensus EPS projection has moved 5.86% lower. Rocket Companies is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Rocket Companies is currently trading at a Forward P/E ratio of 8.43. This represents a discount compared to its industry's average Forward P/E of 21.12.
Investors should also note that RKT has a PEG ratio of 0.84 right now. 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 was holding an average PEG ratio of 2.25 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.