Rocket Companies (RKT) Set to Announce Earnings on Thursday

Rocket Companies (NYSE:RKT) is set to post its quarterly earnings results 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 that wish to listen to the company’s earnings conference call can do so using this link.

Rocket Companies (NYSE:RKT) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $885.00 million during the quarter, compared to analyst estimates of $762.44 million. Rocket Companies had a negative net margin of 0.41% and a negative return on equity of 3.63%. The firm’s 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 Trading Up 0.5 %

RKT opened at $12.41 on Tuesday. The firm has a market capitalization of $24.64 billion, a P/E ratio of -77.56, a P/E/G ratio of 9.62 and a beta of 2.41. The firm’s 50 day moving average is $12.63 and its 200-day moving average is $11.47. The company has a quick ratio of 9.78, a current ratio of 9.78 and a debt-to-equity ratio of 0.92. Rocket Companies has a 52-week low of $7.17 and a 52-week high of $15.19.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RKT shares. UBS Group lifted their price target on shares of Rocket Companies from $8.50 to $10.00 and gave the stock a “sell” rating in a research note on Monday, February 26th. Bank of America boosted their price target on Rocket Companies from $7.00 to $8.00 and gave the stock an “underperform” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. restated an “underweight” rating and set a $10.50 price objective (up previously from $8.50) on shares of Rocket Companies in a research note on Thursday, January 4th. Wells Fargo & Company cut their target price on Rocket Companies from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, February 23rd. Finally, Citigroup increased their target price on Rocket Companies from $10.00 to $11.00 and gave the company a “sell” rating in a report on Wednesday, February 28th. Six analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.02.

About Rocket Companies

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.