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) Stock Moves -1.34%: What You Should Know
Read MoreHide Full Article
Rocket Companies (RKT - Free Report) closed the most recent trading day at $8.85, moving -1.34% from the previous trading session. This change was narrower than the S&P 500's daily loss of 3.63%. Meanwhile, the Dow lost 2.77%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Heading into today, shares of the company had lost 19.34% over the past month, lagging the Business Services sector's loss of 4.8% and the S&P 500's loss of 6.15% in that time.
Investors will be hoping for strength from Rocket Companies as it approaches its next earnings release, which is expected to be May 10, 2022. On that day, Rocket Companies is projected to report earnings of $0.18 per share, which would represent a year-over-year decline of 79.78%. Meanwhile, our latest consensus estimate is calling for revenue of $2.32 billion, down 49.35% from the prior-year quarter.
RKT's full-year Zacks Consensus Estimates are calling for earnings of $1.06 per share and revenue of $9.33 billion. These results would represent year-over-year changes of -53.1% and -28%, respectively.
Investors might also notice recent changes to analyst estimates for Rocket Companies. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. The Zacks Consensus EPS estimate has moved 9.89% lower within the past month. Rocket Companies is currently a Zacks Rank #5 (Strong Sell).
Investors should also note Rocket Companies's current valuation metrics, including its Forward P/E ratio of 8.48. Its industry sports an average Forward P/E of 20.15, so we one might conclude that Rocket Companies is trading at a discount comparatively.
We can also see that RKT currently has a PEG ratio of 0.85. 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 1.77 as of yesterday's close.
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 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Rocket Companies (RKT) Stock Moves -1.34%: What You Should Know
Rocket Companies (RKT - Free Report) closed the most recent trading day at $8.85, moving -1.34% from the previous trading session. This change was narrower than the S&P 500's daily loss of 3.63%. Meanwhile, the Dow lost 2.77%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Heading into today, shares of the company had lost 19.34% over the past month, lagging the Business Services sector's loss of 4.8% and the S&P 500's loss of 6.15% in that time.
Investors will be hoping for strength from Rocket Companies as it approaches its next earnings release, which is expected to be May 10, 2022. On that day, Rocket Companies is projected to report earnings of $0.18 per share, which would represent a year-over-year decline of 79.78%. Meanwhile, our latest consensus estimate is calling for revenue of $2.32 billion, down 49.35% from the prior-year quarter.
RKT's full-year Zacks Consensus Estimates are calling for earnings of $1.06 per share and revenue of $9.33 billion. These results would represent year-over-year changes of -53.1% and -28%, respectively.
Investors might also notice recent changes to analyst estimates for Rocket Companies. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. The Zacks Consensus EPS estimate has moved 9.89% lower within the past month. Rocket Companies is currently a Zacks Rank #5 (Strong Sell).
Investors should also note Rocket Companies's current valuation metrics, including its Forward P/E ratio of 8.48. Its industry sports an average Forward P/E of 20.15, so we one might conclude that Rocket Companies is trading at a discount comparatively.
We can also see that RKT currently has a PEG ratio of 0.85. 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 1.77 as of yesterday's close.
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 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.