Rocket Companies (RKT) Set to Announce Earnings on Thursday

Rocket Companies (NYSE:RKT) is scheduled to release its earnings data after the market closes on Thursday, May 2nd. Analysts expect Rocket Companies to post earnings of $0.01 per share for the quarter. Rocket Companies has set its Q1 2024 guidance at EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $885.00 million for the quarter, compared to analyst estimates of $762.44 million. Rocket Companies had a negative return on equity of 3.63% and a negative net margin of 0.41%. The business’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period last year, the business earned ($0.12) EPS. On average, analysts expect Rocket Companies to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Rocket Companies Stock Performance

Shares of RKT stock opened at $12.55 on Thursday. The company has a market cap of $24.91 billion, a price-to-earnings ratio of -78.41, a price-to-earnings-growth ratio of 9.33 and a beta of 2.42. Rocket Companies has a 52 week low of $7.17 and a 52 week high of $15.19. The company has a quick ratio of 9.78, a current ratio of 9.78 and a debt-to-equity ratio of 0.92. The firm has a 50 day moving average of $12.58 and a 200-day moving average of $11.36.

Analyst Ratings Changes

RKT has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $10.75 price objective on shares of Rocket Companies in a research report on Wednesday, January 3rd. Citigroup raised their price objective on shares of Rocket Companies from $10.00 to $11.00 and gave the stock a “sell” rating in a research report on Wednesday, February 28th. Wedbush reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Rocket Companies in a research report on Friday, February 23rd. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $10.50 target price (up from $8.50) on shares of Rocket Companies in a report on Thursday, January 4th. Finally, Bank of America increased their target price on Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a report on Monday, March 18th. Six equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.02.

Rocket Companies Company Profile

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.